Towngate Retail Park St James St
20,093 SF 100% Leased Retail Building Newport PO30 5HF £2,560,000 (£127.41/SF) 8.25% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Towngate Retail Park is highly prominent and sits within the main retail warehouse cluster on the island
- Let to established national retailers; Halfords, Snap Fitness and Benson For Beds
- The subject property is situated in Newport, the administrative centre of the Isle of Wight
- The property totals 20,093 sq ft producing a net rental income of £224,920 pa, reflecting a low average rent of £11.65 psf
EXECUTIVE SUMMARY
The freehold of this retail warehouse investment opportunity is available for the guide price of £2.56 million providing a yield of 8.25%.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
20,093 SF
Building Class
B
Year Built
1981
Price
£2,560,000
Price Per SF
£127.41
Net Initial Yield
8.25%
NOI
£211,200
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.34
Lot Size
1.37 AC
Parking
90 Spaces (4.48 Spaces per 1,000 SF Leased)
AMENITIES
- Security System
- Storage Space
1 of 1
NEARBY MAJOR RETAILERS
