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Binhamy Retail Park Bude Retail Park 43,338 SF 100% Leased Retail Building Stratton EX23 9TG $9,039,821 ($208.59/SF) 7.25% Cap Rate
Investment Highlights
- Established retail warehouse location.
- Securely let with an average weighted unexpired lease term of 8.7 years (8.4 years to lease break).
- Let to national occupiers B&M, Sue Ryder, Peacocks, Subway & Card Factory.
- Freehold site extending to 3.664 acres.
Executive Summary
Offers in excess of £6,740,000 (Six Million Seven Hundred and Forty Thousand Pounds), exclusive of VAT. A purchase at this level reflects a 7.25% Net Initial Yield, assuming purchaser’s costs of 6.64%.
The property comprises an attractive and modern retail park consisting of five units totalling 43,338 sq ft. The units are laid out in an L-shaped terrace around a central customer car park. There is a separate rear service yard providing rear loading to all of the units.
The units have been constructed to a high specification with glazed entrance features and prominent tenant signage areas. The buildings are of steel portal frame construction with low level brick and blockwork and profiled metal sheet cladding above.
The B&M unit has a dedicated garden centre extending to 6,132 sq ft. There are a total of 146 customer car parking spaces giving a generous parking ratio of 1:255 sq ft GIA.
The site is level and extends to approximately 3.664 acres (1.48 ha), reflecting a low site coverage of 23%.
The property comprises an attractive and modern retail park consisting of five units totalling 43,338 sq ft. The units are laid out in an L-shaped terrace around a central customer car park. There is a separate rear service yard providing rear loading to all of the units.
The units have been constructed to a high specification with glazed entrance features and prominent tenant signage areas. The buildings are of steel portal frame construction with low level brick and blockwork and profiled metal sheet cladding above.
The B&M unit has a dedicated garden centre extending to 6,132 sq ft. There are a total of 146 customer car parking spaces giving a generous parking ratio of 1:255 sq ft GIA.
The site is level and extends to approximately 3.664 acres (1.48 ha), reflecting a low site coverage of 23%.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Freestanding
Building Size
43,338 SF
Building Class
B
Year Built
2016
Price
$9,039,821
Price Per SF
$208.59
Cap Rate
7.25%
NOI
$655,387
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
3.64 AC
Parking
91 Spaces (2.1 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
- Wheelchair Accessible
- Car Charging Station
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Nearby Major Retailers
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Binhamy Retail Park | Bude Retail Park
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