5 St Peters Rd
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5 St Peters Rd
936 SF Retail Building Great Yarmouth NR30 3AU $407,605 CAD ($435 CAD/SF) 8.89% Cap Rate
Executive Summary
Investment Consideration:
Gross Initial Yield: 8.89%
Rental Income: £20,000 p.a.
VAT is NOT applicable to this property
Let until 2039. No breaks. Rent reviews linked to RPI every 5 years.
Comprises ground floor takeaway with self-contained 3-bed flat at first and second floor
Located opposite Londis, amongst a host of local traders including barbers, café and more.
Property Description:
The property comprises ground floor takeaway with self-contained 3-bedroom flat at first and second floor, providing the following accommodation and dimensions:
Ground Floor: 87 sq m (936 sq ft)
Counter, seating area, kitchen, storage, wc
First & Second Floor: 114 sq m (1,227)
Kitchen, 4 rooms, bathroom/wc
Total GIA: 201 sq m (2,163 sq ft)
Tenancy:
The entire property is at present let to Sakotis Tau Limited (with personal guarantee) for a term of 15 Years from 9th September 2024 at a current rent of £20,000 p.a. and the lease contains full repairing and insuring covenants. Rent review every 5th year linked to RPI. No breaks. Lease within Landlord & Tenant Act 1954. Deposit held of £5,000.
Location:
Great Yarmouth is a popular coastal resort, located approx. 18 miles east of Norwich, 8 miles north of Lowestoft and benefits from good road links via the A47, A143 and the A12. The property is located at the junction with Dene Side opposite Londis and amongst a host of local traders and being close to the Town Centre and Sea Front.
Gross Initial Yield: 8.89%
Rental Income: £20,000 p.a.
VAT is NOT applicable to this property
Let until 2039. No breaks. Rent reviews linked to RPI every 5 years.
Comprises ground floor takeaway with self-contained 3-bed flat at first and second floor
Located opposite Londis, amongst a host of local traders including barbers, café and more.
Property Description:
The property comprises ground floor takeaway with self-contained 3-bedroom flat at first and second floor, providing the following accommodation and dimensions:
Ground Floor: 87 sq m (936 sq ft)
Counter, seating area, kitchen, storage, wc
First & Second Floor: 114 sq m (1,227)
Kitchen, 4 rooms, bathroom/wc
Total GIA: 201 sq m (2,163 sq ft)
Tenancy:
The entire property is at present let to Sakotis Tau Limited (with personal guarantee) for a term of 15 Years from 9th September 2024 at a current rent of £20,000 p.a. and the lease contains full repairing and insuring covenants. Rent review every 5th year linked to RPI. No breaks. Lease within Landlord & Tenant Act 1954. Deposit held of £5,000.
Location:
Great Yarmouth is a popular coastal resort, located approx. 18 miles east of Norwich, 8 miles north of Lowestoft and benefits from good road links via the A47, A143 and the A12. The property is located at the junction with Dene Side opposite Londis and amongst a host of local traders and being close to the Town Centre and Sea Front.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Tenure
Freehold
Property Subtype
Fast Food
Building Size
936 SF
Building Class
C
Year Built
1990
Price
$407,605 CAD
Price Per SF
$435 CAD
Cap Rate
8.89%
NOI
$36,232 CAD
Tenancy
Single
Building Height
3 Stories
1 of 1
Nearby Major Retailers
1 of 5
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5 St Peters Rd
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