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Royal Sands development- Perico Lounge 1 Beach Drive 4,200 SF Retail Building Ramsgate CT11 8HF $2,603,877 CAD ($619.97 CAD/SF) 6.40% Cap Rate
INVESTMENT HIGHLIGHTS
- The premises form part of the Royal Sands development, a new development of some 107 residences and commercial space on the beach front
- The commercial space is currently being let and will be principally occupied by food & beverage occupiers, offering a range of different cuisine
- There is approximately 16,400 sq ft of commercial space within the development and the proposed 80 bed hotel.
EXECUTIVE SUMMARY
The Long Leasehold interest is being offered for sale with a guide price of £1,400,000 (One Million, Four Hundred Thousand Pounds) which shows a net initial yield of 6.4% after allowing for purchasers costs of 6%.
TENURE
The premises will be sold with a new 999 year lease.
TENURE
The premises will be sold with a new 999 year lease.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Restaurant
Building Size
4,200 SF
Building Class
B
Year Built
2022
Price
$2,603,877 CAD
Price Per SF
$619.97 CAD
Cap Rate
6.40%
NOI
$166,648 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
0.39 AC
Frontage
64’ on Beach Drive
AMENITIES
- 24 Hour Access
- Signage
- Storage Space
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NEARBY MAJOR RETAILERS
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Royal Sands development- Perico Lounge | 1 Beach Drive
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