Retail investment in 100% prime corner location let to Pavers. Planning permission granted for resi conversion of the vacant upper parts
Summary
- 100% prime corner location
- Secured on covenant of Pavers Ltd on a new 10 year lease from June 2024
- Planning permission granted for residential conversion of the vacant upper parts
- Price : £650,000 to reflect NIY of 8.5% on the commercial income
Further Information
Price Offers in the region of £650,000
Rates Payable Upon Enquiry
Description
Retail investment in 100% prime corner location on pedestrianised St Mary Street, let to Pavers Ltd on a new 10 year lease from June 2024 at a current rent of £50,000 pax.
Planning permission has been granted for residential conversion of the vacant upper parts.
Price
We are instructed to seek offers in the region of £650,000 to reflect a Net Initial Yield of 8.5% on the commercial income and applying a nominal sum of £90,000 to the value of the upper parts.
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