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10 Quality St 1,878 SF Retail Building North Berwick EH39 4HP $1,772,305 CAD ($943.72 CAD/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- Located in the heart of North Berwick
- Unique investment opportunity in sought-after east Lothian town
- Currently let to ARCL NB Ltd
EXECUTIVE SUMMARY
The subjects are let on an FRI basis to ARCL NB Ltd at a rent of £50,000 per annum. An assignation and variation was agreed on 15 April 2024 with the lease expiring 31 October 2042. There is a £12,000 deposit held for the first two years of the lease and the next rent review is 1 November 2026 and 3 yearly thereafter.
Client is seeking offers in excess of £950,000 reflecting a NIY of 5%, assuming purchaser's costs of 5.54%
Client is seeking offers in excess of £950,000 reflecting a NIY of 5%, assuming purchaser's costs of 5.54%
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Restaurant
Building Size
1,878 SF
Building Class
B
Year Built
1970
Price
$1,772,305 CAD
Price Per SF
$943.72 CAD
Cap Rate
5%
NOI
$88,615 CAD
Tenancy
Single
Building Height
3 Stories
Building FAR
0.63
Lot Size
0.07 AC
Frontage
23’ on Quality Street
AMENITIES
- Restaurant
- Signage
- Storage Space
- Smoke Detector
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NEARBY MAJOR RETAILERS
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10 Quality St
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