The Hollies, Newport Road, Stafford, ST16 1BY
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.
- renewals with existing tenants
- 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.
View other sales.