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Chillingham Rd 2,710 SF 100% Leased Retail Building Newcastle Upon Tyne NE6 5LJ $1,234,584 ($455.57/SF) 7.06% Cap Rate
EXECUTIVE SUMMARY
The key Investment Highlights are:
• Rare Multi-let Neighbourhood Parade in busy suburb.
• Strong tenant demand and rental growth.
• Popular suburb with young professionals, students & families.
• Current passing rent of £69,000pa with rental growth potential.
• WAULT of 7.23 years to expiry & 4.8 to breaks.
We are instructed to seek offers in excess of £925,000 which reflects a net initial yield of 7.06% after purchaser’s costs of 5.66% and a potential reversionary yield of 7.9%.
• Rare Multi-let Neighbourhood Parade in busy suburb.
• Strong tenant demand and rental growth.
• Popular suburb with young professionals, students & families.
• Current passing rent of £69,000pa with rental growth potential.
• WAULT of 7.23 years to expiry & 4.8 to breaks.
We are instructed to seek offers in excess of £925,000 which reflects a net initial yield of 7.06% after purchaser’s costs of 5.66% and a potential reversionary yield of 7.9%.
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Building Size
2,710 SF
Year Built
1900
Price
$1,234,584
Price Per SF
$455.57
Cap Rate
7.06%
NOI
$87,162
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.34
Lot Size
0.05 AC
1 1
NEARBY MAJOR RETAILERS
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Chillingham Rd
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