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Lynas House 12-16 Frederick St 10,551 SF 100% Leased Retail Building Sunderland SR1 1NA $767,444 ($72.74/SF) 12.17% Cap Rate
INVESTMENT HIGHLIGHTS
- Modern city centre offices in main professional area.
- Totalling 10,551 ft2 (980 m2).
- Attractive Net Initial Yield 10% overall.
- Opportunity for staged Vacant Possession of FF and SF.
- With development potential STP*.
- Current secure total income £67,973.
- Low Capital Value £64 ft2.
EXECUTIVE SUMMARY
Modern city centre offices in main professional area With development potential STP* Totalling 10,551 ft2 (980 m2) Current secure total income £69,973 Offers in the region of £575,000 plus VAT showing attractive Net Initial Yield of 12% overall Low Capital Value £54.50 ft2 Opportunity for staged Vacant Possession of FF and SF
Lynas House is a modern 3 storey office building located at the junction of Frederick Street and Athenaeum Street within the main professional area.
Occupiers within close proximity include TSB Bank and Grand Central and the property is within walking distance of Sunderland Station which has recently been the subject of a multimillion-pound re- development programme.
Lynas House is arranged over 3 floors and was refurbished in 2009 including replacement of all external windows and the installation of passenger lift serving the first and second floors from a self- contained access lobby.
Lynas House is a modern 3 storey office building located at the junction of Frederick Street and Athenaeum Street within the main professional area.
Occupiers within close proximity include TSB Bank and Grand Central and the property is within walking distance of Sunderland Station which has recently been the subject of a multimillion-pound re- development programme.
Lynas House is arranged over 3 floors and was refurbished in 2009 including replacement of all external windows and the installation of passenger lift serving the first and second floors from a self- contained access lobby.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$93,392
|
$8.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$93,392
|
$8.85
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $93,392 |
| Annual Per SF | $8.85 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $93,392 |
| Annual Per SF | $8.85 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Building Size
10,551 SF
Building Class
C
Year Built/Renovated
1973/2009
Price
$767,444
Price Per SF
$72.74
Cap Rate
12.17%
NOI
$93,392
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.51
Lot Size
0.16 AC
AMENITIES
- Corner Lot
- Air Conditioning
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NEARBY MAJOR RETAILERS
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Lynas House | 12-16 Frederick St
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