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23 Long Causeway
Peterborough PE1 1YJ

Retail Property For Sale

Investment Highlights

  • Prime City Centre Location
  • Refurbished Building
  • Self Contained Retail Premises

Executive Summary

The property comprises a self contained retail unit arranged over ground, first and second floors. The ground and first floors provide open plan sales space, with some limited back of house storage facilities and are linked by a sales staircase to the front of the sales area. The second floor provides stock and storage areas. In addition there are WC facilities at ground and first floors, and staff and kitchen facilities at first floor level. There is a further staff staircase leading to all floors at the rear of the building and a passenger lift serving all floors.
The property benefits from LED lighting, air conditioning to the sales areas and gas fired central heating to back of house areas. The building underwent full refurbishment in mid2019, including full overhaul of the roofs, fire compartmentalisation works to comply with current building regulations and a complete replacement of the passenger lift. All M&E installations have been fully certificated and are compliant with current regulations.
The lease is on full repairing and insuring terms; there is no schedule of condition Rent passing is £60,000 per annum exclusive.
A rent review due on the fifth anniversary of the term.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
5,365 SF
Building Class
B
Year Built
1980
Price
$900,740
Price Per SF
$168
Cap Rate
7.80%
NOI
$70,258
Tenancy
Single
Building Height
3 Stories
Frontage
31 FT on Long Causeway

Amenities

  • Energy Performance Rating - D
  • Storage Space
  • Listing ID: 30722594

  • Date on Market: 1/22/2024

  • Last Updated:

  • Address: 23 Long Causeway, Peterborough PE1 1YJ

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