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161-183 High Street & 2 Ivy Road, Gosforth, Newcastle upon Tyne

  • Prominent freehold retail investment
  • WAULT of 11.5 years to expiry and 9.8 years to breaks
  • 47% of the income secured to The Gym Limited on new 15 year lease, with shareholders’ funds of £49m
  • Newcastle upon Tyne’s most affluent suburb
  • A number of new lettings have taken place at re-based rents, which allow for excellent rental growth prospects
  • Total initial income of £268,600 per annum with a reversionary income of £309,950 per annum once fully let at market rent

We are instructed to seek offers in excess of £3,250,000 which provides a net initial yield of 7.81%, a reversionary yield of 9.01% and an equivalent yield of 8.74% after deducting purchaser’s costs of 5.8%.