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Halfords Marlborough Retail Park
Highfield Road, Craigavon, BT64 1AG | |
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| - The property occupies a prominent location in Central Craigavon adjacent to Tesco Extra, B&Q and Rushmere Shopping Centre & Retail Park.
- A purpose built retail warehouse unit with a gross internal area of 7,791 sq ft.
- Freehold.
- Open Class 1 retail planning permission.
- The property is let to Halfords Limited on a 20 year full repairing lease from16th February 2003 (tenant break clauses at year 11 & 16).
- Current rent passing is £89,784 per annum. The lease stipulates the property is to be reviewed to a 7,482 sq ft unit and on this basis the rent equates to £12 per sq ft.
- Opportunity to regear the lease.
- Our client is seeking offers in excess of £850,000 (Eight Hundred and Fifty Thousand Pounds) reflecting an attractive net initial yield of 9.98% excluding VAT and assuming full purchasers costs at 5.80%.
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