AVAILABLE
Freehold Retail & Residential Investment Opportunity in Newcastle City Centre
Price:
£950,000 (7.62% NIY)
3,968 sq ft
INVESTMENT SUMMARY
Newcastle city centre Freehold opportunity
Located in the heart of Newcastle city centre
Close to universities and prime city centre shops and amenities
Comprising one ground floor retail unit and three 4-bed apartments
Fully let with total passing rent of £76,490 per annum with pre-agreed increase to £81,572 pa next year
Ground floor let to hot food takeaway restaurant t/a Dream Burger until 2048 (no breaks)
Residential tenants are paying an average of only £86.53 pppw (25/26) and £94.67 pppw (26/27), providing excellent scope for future rental growth
We are instructed to seek offers in excess of £950,000 (Nine Hundred and Fifty Thousand Pounds) reflecting a net initial yield of 7.62% and a reversionary yield of 8.12% assuming standard purchasers costs of 5.69%
Property Details
Location Details
Newcastle City Centre
Sector
Retail, Residential
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An outstanding opportunity
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