Investment Properties: South Street, Worthing, BN11 3AA

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South Street, Worthing, BN11 3AA

OIEO

Freehold. Let for a term of 30 years from Mar 04 to Debenhams Retail Plc (5A1 by Dun and Bradstreet). Annual fixed uplift of 2.5% until 2019. Thereafter, the rent is reviewed 5 yearly to the higher of OMV or 2.5% pa compounded. Size: 44,898 sq ft GIA over 6 levels. Current passing rent is £374,605 pa. OIEO £6.58M / NIY of 5.4%, reversionary yield of 7.46%, and an equivalent yield of 6.81%, assuming purchasers costs of 5.8%