M&S Simply Food, Hollywood Avenue, Newcastle upon Tyne
17,519 sq ft
Description
• Prominently located food store in Newcastle’s most desirable suburb, Gosforth
• Very affluent area, with 31% of households earning over £70,000 per annum—almost three times the proportion within a 60-minute drive
• Modern purpose-built supermarket comprising 17,519 sq ft
• Tenant has constructed a mezzanine floor of 6,411 sq ft included in the above area
• EPC – B, expiring 2035
• Securely let to Marks & Spencer Simply Foods Ltd on an FRI lease expiring October 2034
• 8.9 years certain
• Passing rent of £250,000 per annum
• Creditsafe rating of 100-A, Very Low Risk
• Freehold
We are instructed to seek offers in excess of £3,775,000 (Three Million Seven Hundred and Seventy Five Thousand Pounds) reflecting a Net
Initial Yield of 6.25% and purchaser’s costs of 6.52%
• Very affluent area, with 31% of households earning over £70,000 per annum—almost three times the proportion within a 60-minute drive
• Modern purpose-built supermarket comprising 17,519 sq ft
• Tenant has constructed a mezzanine floor of 6,411 sq ft included in the above area
• EPC – B, expiring 2035
• Securely let to Marks & Spencer Simply Foods Ltd on an FRI lease expiring October 2034
• 8.9 years certain
• Passing rent of £250,000 per annum
• Creditsafe rating of 100-A, Very Low Risk
• Freehold
We are instructed to seek offers in excess of £3,775,000 (Three Million Seven Hundred and Seventy Five Thousand Pounds) reflecting a Net
Initial Yield of 6.25% and purchaser’s costs of 6.52%
BUILDING HIGHLIGHTS
8.9 years unexpired
Prime Food Store
Situated close to ASDA Ltd Superstore
Comprising 17,519 sq ft
