22-24 Station Rd | Ashington NE63 9UJ
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22-24 Station Rd
Ashington NE63 9UJ
Retail Property For Sale
Executive Summary
LEASE TERMS
22 Station Road is let to the Salvation Army on Internal Repairing and insuring terms at a rent of £12,000 per annum until 24 February 2026 with tenant break in February 2024
24 Station Road is let to Savers Health & Beauty Limited at £15,000 per annum on internal repairing and insuring terms until 24 December 2026 with tenant break in December 2024.
COVENANT INFORMATION
Salvation Army – According to the charities commission, Salvation Army last reported income of £281m on 31 March 2022.
Savers – Savers Health & Beauty Limited are considered to have a “very low risk” credit risk score according to
Experian and last reported accounts in 2022 – total turnover of £567m and pre-tax profits of £40m.
TENURE
We are pleased to offer our clients freehold interest with title number
PROPOSAL
We are instructed to seek offers in excess of £325,000 (Three Hundred & Twenty Five Thousand Pounds) for our client’s freehold interest. £325,000 represents a net initial yield of 8.02% assuming purchasers costs of 4.33%.
22 Station Road is let to the Salvation Army on Internal Repairing and insuring terms at a rent of £12,000 per annum until 24 February 2026 with tenant break in February 2024
24 Station Road is let to Savers Health & Beauty Limited at £15,000 per annum on internal repairing and insuring terms until 24 December 2026 with tenant break in December 2024.
COVENANT INFORMATION
Salvation Army – According to the charities commission, Salvation Army last reported income of £281m on 31 March 2022.
Savers – Savers Health & Beauty Limited are considered to have a “very low risk” credit risk score according to
Experian and last reported accounts in 2022 – total turnover of £567m and pre-tax profits of £40m.
TENURE
We are pleased to offer our clients freehold interest with title number
PROPOSAL
We are instructed to seek offers in excess of £325,000 (Three Hundred & Twenty Five Thousand Pounds) for our client’s freehold interest. £325,000 represents a net initial yield of 8.02% assuming purchasers costs of 4.33%.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
3,923 SF
Building Class
B
Year Built
1956
Price
$587,220 CAD
Price Per SF
$150 CAD
Cap Rate
8.02%
NOI
$47,095 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Amenities
- Storage Space
1 of 2
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