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1C Union St 435 SF Retail Building Andover SP10 1PA $191,048 ($439.19/SF) 8.07% Cap Rate
Investment Highlights
- Located in a busy position
- Close to several town centre car parks
- Just off Andover High Street
Executive Summary
Offers invited in the region of £140,000 which will show a purchaser a net initial yield of about 8.07% after deducting purchaser's costs at 1.75%.
Julie Wakeham & Theresa Holloway have occupied the premises since 1998 and terms for a new 6 year FRI lease from 25 March 2025 have been agreed subject to a non-downward rent review after 3 years, tenants’ option to break at the 3 year point with 6 months’ notice, security of tenure excluded at the end of the term and at a commencing rent of £11,500 pax.
Julie Wakeham & Theresa Holloway have occupied the premises since 1998 and terms for a new 6 year FRI lease from 25 March 2025 have been agreed subject to a non-downward rent review after 3 years, tenants’ option to break at the 3 year point with 6 months’ notice, security of tenure excluded at the end of the term and at a commencing rent of £11,500 pax.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Building Size
435 SF
Building Class
C
Year Built
1970
Price
$191,048
Price Per SF
$439.19
Cap Rate
8.07%
NOI
$15,418
Tenancy
Single
Building Height
1 Story
Building FAR
0.74
Lot Size
0.01 AC
Frontage
15’ on Union Street
Amenities
- Energy Performance Rating - C
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Nearby Major Retailers
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1C Union St
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