PRIVATE CLIENT
72 -84 Grainger Street Newcastle upon Tyne, NE1 5JQ
CITY CENTRE RETAIL PARADE INVESTMENT IN NEWCASTLE 72 -84 GRAINGER STREET, NEWCASTLE UPON TYNE, NE1 5JQ CITY CENTRE RETAIL PARADE INVESTMENT IN NEWCASTLE
Investment Summary • Fully let City Centre retail parade located in a ‘top 6’ retailing city • Current rent passing of £269,000 p.a. • Very attractive Grade II* Listed Georgian building situated on the main • Located in an established retailing destination in the City Centre which is thoroughfare between Newcastle Central Station and Elden Square experiencing considerable investment • The property comprises five retail units and a bar totalling approximately 9,964 sq ft • The property is held on a long leasehold basis for a term of 999 years from January • Tenants include Regis UK Limited and Vaulkhard Leisure Limited which trades 2005 at a peppercorn rent. as the popular and established ‘Mushroom Bar’ • Offers sought in excess of £3,000,000 (Three Million Pounds) subject to contract • Weighted average unexpired lease term of 7.13 years to expiry and 5.49 years and exclusive of VAT. A purchase at this level would reflect a net initial yield of 8.42% to break assuming usual purchaser’s costs of 6.45%
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72 -84 GRAINGER STREET, NEWCASTLE UPON TYNE, NE1 5JQ CENTRE CITY CENTRE RETAIL PARADE INVESTMENT IN NEWCASTLE
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