Sold
Stoke on Trent – Freehold Car Park Let to NCP
NCP Glass Street, Hanley, Stoke on Trent, Staffordshire, ST1 2ET
Offers in excess of £3,090,000
- Property Type:
- Commercial
- Sub Type:
- Car Park
- Tenure:
- Freehold
- Net Initial Yield:
- 6.25%
Income
£205,533 per annum
Description
City Centre surface car park providing 86 spaces
Situated adjacent to the main retail pitch
Let to National Car Parks Limited, a 5A1 covenant, for a term of 34 years and 11 months expiring 28th May 2037 (17.9 years remaining)
Freehold
The current rent passing is £205,553 per annum which equates to £2,390 per space
The lease benefits from 3% annual increases
Site area of approximately 0.61acres (0.25ha)
Prime city centre site with development potential subject to planning and usual consents
Offers are sought in excess of £3,090,000 which reflects a NIY of 6.25% subject to contract and exclusive of VAT, allowing for purchaser’s costs of 6.46%.