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33 Westgate 10,911 SF 100% Leased Retail Building Peterborough PE1 1PZ $4,928,768 CAD ($451.72 CAD/SF)
INVESTMENT HIGHLIGHTS
- Prominent Business Location
- Commercial Aspects Fully Occupied
- Solid Transport Links
EXECUTIVE SUMMARY
The property comprises a former bank premises which have been converted into two ground floor shops with 13 apartments above. The building is of traditional construction with a stone façade. The building has total site coverage. The property has been extensively refurbished and is in excellent condition. The ground floor consists of two shops, one retailing hairdressing products and the second being a chicken takeaway. To the east there is a separate entrance to the upper parts known as Walker House located on the first and second floors providing 13 apartments, 8 on the first floor and 5 on the second floor.
Offers are invited in excess of £2,650,000 to show a gross initial yield of 8%. The property is elected for VAT and therefore will be sold as a TOGC. The two shops are let on rising rents as itemised in the Schedule of Income and Tenancies. The vendor will top up the difference between the rent passing and the headline rent, so that a purchaser has the benefit upon completion of a gross income of £213,200.
Offers are invited in excess of £2,650,000 to show a gross initial yield of 8%. The property is elected for VAT and therefore will be sold as a TOGC. The two shops are let on rising rents as itemised in the Schedule of Income and Tenancies. The vendor will top up the difference between the rent passing and the headline rent, so that a purchaser has the benefit upon completion of a gross income of £213,200.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
10,911 SF
Building Class
B
Year Built
1910
Price
$4,928,768 CAD
Price Per SF
$451.72 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.91
Lot Size
0.28 AC
Parking
1 Spaces (0.09 Spaces per 1,000 SF Leased)
Frontage
35’ on Westgate
AMENITIES
- 24 Hour Access
- Courtyard
- Energy Performance Rating - C
- Air Conditioning
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NEARBY MAJOR RETAILERS
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33 Westgate
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