top of page

UNDER OFFER

Recently constructed neighbourhood retail parade with undoubted covenants

Price:

£2,250,000 (5.95% NIY)

10,501 sq ft

NEIGHBOURHOOD RETAIL INVESTMENT FOR SALE


Secure tenant mix of Co-op, Montane, Cooplands & Osprey


  • Located in Ashington, Northumberland with existing population of 28,000 (c2021) and wider County population of 319,000 (c2021)

  • Within a densely populated residential location, close to nearby schools, Ashington town centre, leisure centre, football club and Wansbeck General Hospital

  • The property comprises a new build retail parade with 45 car parking spaces, of which 8 are under offer to Osprey Charging Network

  • The building is prominently positioned on a busy main road alongside a new build housing estate of 259 units developed by Bellway

  • The property is split into three units and entirely let to undoubted covenants of Co-op, Montane, Cooplands and under offer to Osprey Charging Network

  • Total income of £142,360 per annum

  • WAULT of 8.95 years to breaks and 12.26 years to

    lease ends

  • Index linked rent reviews on over 62% of the income

  • Over 47% of the annual income is from Co-operative Group Food Limited with lease expiry in 2036 (without breaks)


We are instructed to seek offers in excess of £2,250,000 (exclusive of VAT), reflecting a net initial yield of 5.95% and a reversionary yield of 6.40%* assuming standard purchasers costs of 6.33%.

Property Details

Location Details

Ashington, Northumberland

Sector

Retail

Property PDF

Download our property listing brochure for full details of this listing.

MAKE AN ENQUIRY

An outstanding opportunity

Our property listing brochure contains full details of this listing. Prefer to chat to us about the property? Send us an email or give us a call.

Share this listing

  • Instagram
  • Facebook
  • Twitter
  • LinkedIn
  • YouTube
Property Details

Speak to us about this property in more detail.

Or access the PDF Brochure and mailing list.

bottom of page