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54-56 Mutley Plain 13,396 SF Retail Building Plymouth PL4 6LF $1,646,022 CAD ($122.87 CAD/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Good road links
- Close proximity to local amenities
- Good transport links
EXECUTIVE SUMMARY
Offers in the region of £885,000 (Eight Hundred and Eighty Five Thousand Pounds) to reflect an attractive Net Initial Yield of 6%.
The entire property is let to Co-Operative Foodstores Limited for a term of 15 years from 28th November 2019 at a current rent of £56,102 per annum exclusive. The lease is drawn on full repairing terms and is subject to upwards only rent reviews every 5 years in line with annual increases in CPI, with a collar and cap arrangement set at 1% - 3%. There are no break clauses in the lease.
The entire property is let to Co-Operative Foodstores Limited for a term of 15 years from 28th November 2019 at a current rent of £56,102 per annum exclusive. The lease is drawn on full repairing terms and is subject to upwards only rent reviews every 5 years in line with annual increases in CPI, with a collar and cap arrangement set at 1% - 3%. There are no break clauses in the lease.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
13,396 SF
Building Class
B
Year Built
1903
Price
$1,646,022 CAD
Price Per SF
$122.87 CAD
Cap Rate
6%
NOI
$98,761 CAD
Tenancy
Single
Building Height
4 Stories
Building FAR
1.67
Lot Size
0.18 AC
Frontage
89’ on Mutley Plain
AMENITIES
- Signage
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NEARBY MAJOR RETAILERS
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54-56 Mutley Plain
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