Multifunctional center, Essex, United Kingdom

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Multifunctional center, Essex, United Kingdom

783,000 £
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Total area: 693 m² Yield: 6.8%
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Features
  • Operating Incomе: 62,533 €
  • 4-floor building
  • Occupancy: 100%
  • Number of parking lots: 6
  • End of lease: 2025
  • Acquisition tax: 5.5%
  • Broker: 2.0%

Multifunctional center with a large anchor tenant.

Description

The property consists of retail units of 617 m², storage space of 76 m² on the ground floor and newly renovated apartments on the upper floors.

There is parking for 6 cars in the territory of the property.

The building is in good condition.

Type of ownership: Freehold.

Financial performance

The cost of the property is 782,500 £.

The absolute annual income is 55,700 £.

The current yield is 6.8%.

Tenants

The anchor tenant is the largest retail bank in the UK. The company's turnover for 2016 exceeds 19 billion euros. The company's share in the retail banking market is 21%.

The lease agreement is valid until 2025. The tenant presents in the building for a long time, the last renewal of the contract was in 2015.

Transaction costs

Acquisition tax is 5,5%.

The brokerage fee is 2% + 20% VAT (in total 2,4%).

Location

The property is located in Essex, in one of the suburbs of the Haverning district approximately in 29 km to the north-east of Central London.

The town has a convenient network of transport stations: metro, railway and bus stations.

The town has numerous national retailers and restaurants including: Sainsbury, Boots, Zizzi, Prezzo, Wildwood and Chimichanga.

The airport can be reached in 30 minutes by car.

Distance to major cities:

  • Brentwood — 10 km
  • Romford — 3 km

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Olga Starintseva
Real Estate Expert Tranio in Essex
+44 17 4822 0039
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