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69 Bedford St 4,509 SF 100% Leased Retail Building North Shields NE29 6QF $790,463 CAD ($175.31 CAD/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- High Specification Throughout
- £33,000 per year income
- Fully Let to Lloyds Bank
EXECUTIVE SUMMARY
The property comprises a prominent retail two storey building arranged as a retail unit at ground floor with associated offices and facilities at first floor and storage facilities and walk in safe within the basement. I
The property is let in its entirety to Lloyds Bank PLC at a passing rent of £33,300pa for a term of ten years from 28th February 2013 on full repairing and insuring terms. The rent increased at the recent rent review from the previous passing £32,300pa. Lloyds Bank PLC has been a tenant at the property since 1997, having previously owned the property prior to this. An extensive refurbishment of the property was undertaken by the tenant during 2016.
The property is let in its entirety to Lloyds Bank PLC at a passing rent of £33,300pa for a term of ten years from 28th February 2013 on full repairing and insuring terms. The rent increased at the recent rent review from the previous passing £32,300pa. Lloyds Bank PLC has been a tenant at the property since 1997, having previously owned the property prior to this. An extensive refurbishment of the property was undertaken by the tenant during 2016.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
4,509 SF
Building Class
B
Year Built
1970
Price
$790,463 CAD
Price Per SF
$175.31 CAD
Cap Rate
7.50%
NOI
$59,285 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Frontage
67’ on Bedford Street
AMENITIES
- Security System
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Finance and Insurance
- 3,403 SF
- -
- -
Since 1765, Lloyd's have been providing expert support and guidance to households, businesses and communities of Britain. Their expertise and understanding are built on this experience, providing financial confidence and peace of mind for their customers of every generation. At Lloyds, they are working hard to build a bank that is truly representative of modern Britain for all of their customers, communities and colleagues. Lloyds are part of the same group which includes Halifax and Bank of Scotland.
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| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
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Finance and Insurance | 3,403 SF | - | - | ||
| Vaporized | - | - | - | - |
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NEARBY MAJOR RETAILERS
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69 Bedford St
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