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Victoria House 2 Park Ln 1,361 SF Retail Building Newmarket CB8 8EN $1,025,275 CAD ($753.32 CAD/SF) 6.22% Cap Rate

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Investment Highlights

Fully Let Mixed-Use Property with an Annual Income of £34,250
Prominent Location at the Head of Sun Lane

Located in the Historic Suffolk Market Town Newmarket

Executive Summary

The property comprises of a handsome period building located at the head of Sun Lane and forms the start of a parade of retail and leisure buildings that lead to Newmarket High Street. The ground and lower ground floor is presently occupied by Studio Scribbles Ltd. The additional two bedroom apartments are on the 1st and 2nd floors, accessed by their own communal door and are let privately on AST agreements.
The shop and lower ground floor are let to Studio Scribbles Ltd. The lease started in September 2015 with an initial term of 5 years. The current rent is £14,000 per annum. Both apartments are let on assured shorthold tenancies. Flat 1 has a current rent of £790 pcm and Flat 2 has a current rent of £920 pcm. The total current annual rental income is £34,520.

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