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2 Den Crescent 4,932 SF 100% Leased Office Building Teignmouth TQ14 8BG $1,117,292 CAD ($226.54 CAD/SF) 10% Cap Rate
INVESTMENT HIGHLIGHTS
- Substantial town centre Grade ll Listed property
- 2 two bedroom flats above in need of modernisation
- Currently tenanted by Doctors surgery on 3 floors
EXECUTIVE SUMMARY
Offers are sought in the region of £600,000 for the freehold of this well-located premises currently producing a rental income of £68,300 per annum, and with potential to increase the rents on the flats if improvement works are completed. The premises also have redevelopment potential once the Surgery relocates into new premises. This would offer an initial gross return of around 10.5% after purchase costs. We understand that VAT is not chargeable on the sale price.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Subtype
Office/Residential
Building Size
4,932 SF
Building Class
C
Year Built
1900
Price
$1,117,292 CAD
Price Per SF
$226.54 CAD
Cap Rate
10%
NOI
$111,729 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
1,233 SF
Building FAR
1.74
Lot Size
0.07 AC
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2 Den Crescent
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