Retail Investment Opportunity - For Sale
2,000 sq ft, 100% Let, Retail Opportunity in Grindon
The property is freehold and comprises of seven individual commercial units plus a three bedroom flat. Benefiting from a diverse and robust tenant mix, including a dance studio, takeaway, convenience store, Pilates studio, and carwash—each currently let on FRI leases to reputable local businesses.
Above the main commercial units, a self-contained three-bedroom flat is also included, currently generating £8,400 per annum in rental income. Together, the combined annual rental income for the entire property stands at an impressive £64,200, reflecting a highly attractive yield of just over 10% at the asking price. The entire site spans approximately 2,495 sqm, providing ample scope for commercial activity and possible future redevelopment, subject to the necessary planning consents.
The property is surrounded by established residential neighbourhoods and can also be, in future, redeveloped into a housing estate to capitalise on the ever growing demand for new homes.
£599,000
