Property overview

The Hollies, Newport Road, Stafford, ST16 1BY

under offer

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£2,100,000
Oct 2021

High Yielding, Low Capital Value Investment with Development Potential.

 

Located on Newport Road (A518), one Stafford’s main arterial roads, 650m from Stafford Railway Station & edge of town centre. Lies next to Stafford Station Gateway, a 70 acre master planned regeneration area.

 

Property comprises four buildings totalling 26,983 sq ft on a 3.25 acre site with 150m road frontage and under 20% site coverage.

 

Currently 89% let to 5 tenants with a WAULT of 2.5 years to expiries and 1.9 years to breaks.  The combined income is currently £187,085 per annum, averaging only £7.85 per sq ft.

 

Our view of ERV, based only on the existing accommodation on site is £237,880 per annum, still only £8.82 per sq ft.

 

The site offers a variety of asset management opportunities both with existing tenants and wider redevelopment angles.

 

Opportunities include:

  • renewals with existing tenants
  • re-lettings
  • conversion
  • further part redevelopment
  • full redevelopment of entire site

 

Offers are sought in excess of £2,100,000, subject to contact. A purchase at this level reflects an initial yield of 8.38%, a reversionary yield of 10.66% and an underlying capital value of only £77.83 per sqft.

 

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St Pauls Office Investments Retail & Retail Warehousing investments