Menai Retail Park, Caernarfon Road, Bangor
Bangor, , LL57 4SJ

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Nick Lawley

The Agent

Nick Lawley
Director

02920 346333
Caryl Howell

The Agent

Caryl Howell
Senior Surveyor

02920 346353
Brochure

Download the Brochure

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Specification

  • INVESTMENT GENERAL, INVESTMENT RETAIL, RETAIL WAREHOUSE
  • 0 sqft (0 sqm)
  • For sale
  • £6,750,000

Description

- Freehold
- Regionally dominant location for North Wales
- Modern Retail Park, comprising four retail warehouse units totalling 45,050 sq ft GIA
- Fully let to Currys PC World, Carpetright, TK Maxx and Pets at Homes
- TK Maxx regeared their lease in May 2019 at passing rent
-Total passing rent of £693,256.50 per annum (£15.39 psf)
- WAULT of 4.7 years to expiry (4.4 years to break)
Planning permission granted for new 5,000 sq ft detached unit on-site

Offers sought in the region on £6,750,000 (Six Million, Seven Hundred and Fifty Thousand Pounds) subject to contract and excluding VAT.  A purchase at this level would reflect a net initial yield of 9.55%, assuming purchasers costs of 7.53% and a low capital value of £150 per sq ft.

Cooke & Arkwright for themselves and for the vendor/lessor of this property whose agents they are give notice that: 1. These particulars do not constitute any part of an offer or contract. 2. All statements contained in these particulars are made without responsibility on the part of Cooke & Arkwright for the vendor/lessor and nothing contained in these particulars is to be relied upon as a statement or representation of fact. 3. Any intended purchaser/lessor must satisfy itself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 4. The vendor/lessor does not make or give and neither Cooke & Arkwright nor any person in their employment has any authority to make or give any representation/warranty whatsoever in relation to this property or any services. 5. All terms quoted exclusive of VAT unless otherwise stated. 6. Cooke & Arkwright is a trading name of Cooke & Arkwright Limited.