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Shroggs Rd - Units 2-4 Victoria Retail Park 25,176 SF Retail Condo Unit Offered at $3,332,657 in Halifax HX3 5HA
Investment Highlights
- Car parking
- Signage
- Prominent location
Executive Summary
The property provides versatile retail accommodation and is located in a prominent retail park in Halifax.
1 Unit Available
Unit Units 2-4
| Unit Size | 25,176 SF | Tenure | Long Leasehold |
| Price | $3,332,657 | Cap Rate | 8.50% |
| Price Per SF | $132.37 | NOI | $283,275.81 |
| Condo Use | Retail | No. Parking Spaces | 110 |
| Sale Type | Investment |
| Unit Size | 25,176 SF |
| Price | $3,332,657 |
| Price Per SF | $132.37 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Cap Rate | 8.50% |
| NOI | $283,275.81 |
| No. Parking Spaces | 110 |
Description
The subject property provides a modern and attractive retail warehouse scheme, having been constructed in 2007 by B&Q, who previously owned the Retail Park. Consequently, the Property adjoins a 63,699 sq ft B&Q. The units provides 25,176 sq ft of accommodation arranged across 3 units ranging in size from 6,311 sq ft to 10,147 sq ft. The units are of steel portal frame construction with profile metal sheet cladding and all are fitted out to the individual tenant’s specifications.
Servicing is located to the rear and the subject property benefits from 110 exclusive car parking spaces, giving an attractive ratio of 1 : 228 sq ft. Including the whole of the B&Q car park, there are 359 car parking spaces, giving a ratio of 1 : 247 sq ft across the whole scheme.
Sale Notes
INVESTMENT SALE | RETAIL WAREHOUSE PORTFOLIO | ADJOINING B&Q STORES
Park Place Retail are marketing this diverse 3 asset retail warehouse portfolio comprising Victoria Retail Park in Halifax, Armstrong Retail Park in Washington and Berse Road Retail Park in Wrexham. The portfolio has a WAULT to lease expiry of 6.3 years (5.7 years to break), a low average rental rate of £9.55 per sq ft with provable reversion at Wrexham providing for a reversionary yield profile.
Offers are requested in excess of £7,201,000, providing a low capital value of £109.00 per sq ft and the following yield profile:-
8.21% | net initial yield
8.30% | April 2028 running yield based on Wrexham fixed uplift
8.46% | June 2029 reversionary yield based on recent evidence
The properties are available on an individual basis with specific pricing detailed in the respective marketing brochures, which can be provided upon request.
Property Facts
| Total Building Size | 113,662 SF | Typical Floor Size | 88,911 SF |
| Property Type | Retail (Condo) | Year Built | 2008 |
| Property Subtype | Storefront | Lot Size | 8.44 AC |
| Building Class | C | Parking Ratio | 4.28/1,000 SF |
| Floors | 1 |
| Total Building Size | 113,662 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront |
| Building Class | C |
| Floors | 1 |
| Typical Floor Size | 88,911 SF |
| Year Built | 2008 |
| Lot Size | 8.44 AC |
| Parking Ratio | 4.28/1,000 SF |
Amenities
- Bus Line
- Security System
- Signage
- Storage Space
Nearby Major Retailers
Presented by
Shroggs Rd - Units 2-4 Victoria Retail Park
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