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Sketchley House 9-11 Castle Gate 2,590 SF Retail Building Newark NG24 1AZ $308,406 ($119.08/SF) 9.35% Cap Rate
Investment Highlights
- Fronts on to Castle Gate
- Storage on the second floor
- Grade II Listed building
Executive Summary
Sketchley House - £230,000 NIY - 9.35%
Let to Ringrose Law Solicitors on a 10 year lease from January 2022, with a tenant break option at the end of year 5 at a passing rent of £22,000 per annum. The lease is drawn on Internal Repairing and Insuring terms.
Let to Ringrose Law Solicitors on a 10 year lease from January 2022, with a tenant break option at the end of year 5 at a passing rent of £22,000 per annum. The lease is drawn on Internal Repairing and Insuring terms.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Office
Building Size
2,590 SF
Building Class
B
Year Built
1890
Price
$308,406
Price Per SF
$119.08
Cap Rate
9.35%
NOI
$28,836
Tenancy
Single
Building Height
2 Stories
Building FAR
0.18
Lot Size
0.33 AC
Frontage
43’ on Castle Gate
Amenities
- Courtyard
- Energy Performance Rating - D
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Nearby Major Retailers
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Sketchley House | 9-11 Castle Gate
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