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October 2019

The Rex Centre, Maskew Avenue, Peterborough, PE1 2AS

Screenshot 2019-10-14 at 11.04.24

under offer

The property comprises a modern self-contained two unit trade counter scheme located in an established retail and trade location.  The site adjoins A15 close to its junction with A47, 1.5 miles north of the city centre.  Two purpose built trade counter units extending to a total of 8,464 sq.ft 0n a site of 0.47 acres.  Let to the excellent covenants of Sally Salon Services Ltd and Multi-Tile Ltd (t/a Topps Tiles).  WAULT of 7.3 years to expiries and 2.3 years to break.  Multi-Tile elease has annual RPI linked rent reviews with a collar of 3% and cap of 5%.  Combined passing rent of £120,369 per annum, increasing to a minimum of £122,307 per annum in December 2019 and £124,304 per annum in December 2020.  Offers sought in excess of £1,620,000 which reflects a net initial yield of 7.00% reverting to 7.11% in December 2019 and 7.23% in December 2020.

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