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257-259 Prince Edward Rd
South Shields NE34 7LZ

Retail Property For Sale

Retail Space Tyne And Wear South Shields 257-259 Prince Edward Rd, South Shields, TWR NE34 7LZ

Investment Highlights

  • Net initial yield of 8.58%
  • 2018 break not exercised and 2023 Rent Review outstanding
  • Popular parade in highly visible location
  • Lease end 2 nd January 2028
  • Tenant company North East Convenience a subsidiary of James Hall & Company

Executive Summary

The property is entirely let to North East Convenience Limited (CRN:04287332) for a term of 20 years from the 3rd January 2008 at a passing rent of £22,000 per annum. The lease was assigned from Finlays in 2014. The lease is drafted on full repairing and insuring terms with a tenant break in January 2018 and rent reviews every 5th anniversary of the commencement. The 2023 rent review is outstanding.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Building Size
2,306 SF
Year Built
1950
Price
$311,915
Price Per SF
$135
Cap Rate
8.58%
NOI
$26,762
Tenancy
Single
Building Height
2 Stories
Building FAR
0.95
Lot Size
0.06 AC
Frontage
18 FT on Prince Edward Road
 

  • Listing ID: 32635636

  • Date on Market: 7/31/2024

  • Last Updated:

  • Address: 257-259 Prince Edward Rd, South Shields NE34 7LZ

The Retail Property at 257-259 Prince Edward Rd, South Shields, NE34 7LZ is currently available for sale. Contact Greig Cavey Commercial Ltd for more information.

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