21-23 Friar Gate 6,323 SF Retail Building Derby DE1 1BX $1,526,827 ($241.47/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Pub on effective FRI lease to 2039 @ £47,500 p.a
- Superbly positioned highly prominent building
- 7 resi units on AST's producing £75,840 p.a. Gross
EXECUTIVE SUMMARY
Highly prominent mixed use investment. Producing £123,220 p.a. (c£100,000 after costs). Popular Irish Pub with live music tenanted to 2038 with fixed increase to £55,000 p.a. in 2029 and a further Index Linked review in 2034. + 7 residential Lets fully refurbished in 2021. Comprising 2x apartments, 4 x studios & a 4-bed HMO. Tenanted furnished on standard AST's. Ideal location for Air BnB.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Bar
Building Size
6,323 SF
Building Class
B
Year Built
1902
Price
$1,526,827
Price Per SF
$241.47
Cap Rate
8%
NOI
$122,146
Tenancy
Single
Building Height
1 Story
AMENITIES
- 24 Hour Access
- Bus Line
- Energy Performance Rating - D
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