Multi-let Freehold Retail Investment

43-53 High Street , Northwich Cheshire, CW9 5DD

Ref 13848

Category Invest

Type Retail, High Street

Status Under Offer

Price/Rent £ 1,450,000

Size 8,940 - 8,940 sq ft
(831 - 831 sq m)

Multi-let Freehold Retail Investment

  • An opportunity to acquire a multi-let retail parade within the pedestrianised centre of Northwich, an affluent Cheshire town.
  • A parade of 5 retail units totalling approximately 8,940 sq ft over ground and first floors.
  • Rents have all been re-based currently producing £130,500pa.vvvv
  • 73% of the income is generated from national retailers being Specsavers, British Heart Foundation, and Scope.
  • Specsavers have occupied the parade for over 18 years and recently opened the adjoining unit and completed a re-fit of their units to their latest trading style.
  • British Heart Foundation have occupied their unit for over 25 years and have just agreed a new 5 year lease extension
  • WAULT of 7.18 years to expiry (3.59 years to breaks)
  • Occupiers close by include McDonalds, Lloyds TSB, Thomson Travel Agents and Holland & Barratt.
  • We are instructed to seek offers in excess of £1,450,000 (One Million Four Hundred and Fifty Thousand Pounds) offering an attractive net initial yield of 8.5% net of costs at 6.08% , subject to contract and exclusive of VAT.