Car Dealership Passfield Way 12,943 SF Retail Building Peterlee SR8 1PX $5,765,839 ($445.48/SF) 6.10% Cap Rate
EXECUTIVE SUMMARY
Long Income Supermarket Anchored Roadside Investment Passfield Way, Peterlee, County Durham, SR8 1PX
Property Highlights
• Roadside Investment opportunity recently completed.
• Let to Sainsburys, Greggs & Domino’s amongst others.
• Blend of open market and CPI reviews.
• 12,943 sq ft of accommodation plus electric charging points.
• Annual rent of £265,380 with genuine reversion.
• Asset Management opportunities to further improve income & Value.
• WAULT to expiry of 13.3 years & 12.3 to break.
We have been instructed to seek £4.25m, which will show a net initial yield of 6.1% (2.3% costs) on the basis of an SPV sale or 5.86% after standard purchase costs of 6.54%.
Property Highlights
• Roadside Investment opportunity recently completed.
• Let to Sainsburys, Greggs & Domino’s amongst others.
• Blend of open market and CPI reviews.
• 12,943 sq ft of accommodation plus electric charging points.
• Annual rent of £265,380 with genuine reversion.
• Asset Management opportunities to further improve income & Value.
• WAULT to expiry of 13.3 years & 12.3 to break.
We have been instructed to seek £4.25m, which will show a net initial yield of 6.1% (2.3% costs) on the basis of an SPV sale or 5.86% after standard purchase costs of 6.54%.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Auto Dealership
Building Size
12,943 SF
Building Class
C
Year Built
1990
Price
$5,765,839
Price Per SF
$445.48
Cap Rate
6.10%
NOI
$351,716
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.40 AC
Parking
150 Spaces (11.59 Spaces per 1,000 SF Leased)
Frontage
91’ on Donerston Grove
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Arranged over ground floor only. The unit comprise 1,250 SF.
| Space | Size | Space Use | Position | Available |
| 6 | 1,250 SF | Retail | In-Line | Now |
6
| Size |
| 1,250 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
1 of 1
NEARBY MAJOR RETAILERS
