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25 Southgate 2,405 SF 100% Leased Retail Building Sleaford NG34 7SY $514,067 ($213.75/SF) 9.97% Cap Rate
Investment Highlights
- The property occupies a prime position along Southgate in the centre of the market town of Sleaford.
- The retail unit benefits from a prominent shop frontage onto busy Southgate in the town centre.
- This property comprises a ground floor retail unit with three flats above.
Executive Summary
25 Southgate is let to Hass Barbers Ltd (with personal guarantee) for a term of 10 years from 1 December 2023 at a rent of £18,000 plus VAT per annum with provision for a rent review at the end of five years. The three flats are let on AST’s and produce an income of £20,400 per annum. The total rent roll for the property is £38,400per annum.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
2,405 SF
Building Class
C
Year Built
1900
Price
$514,067
Price Per SF
$213.75
Cap Rate
9.97%
NOI
$51,273
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.79
Lot Size
0.07 AC
Frontage
18’ on Southgate
Amenities
- Energy Performance Rating - C
- Storage Space
1 1
Nearby Major Retailers
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25 Southgate
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