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Royal Sands development- Perico Lounge 1 Beach Drive 4,200 sq ft Retail Property Ramsgate CT11 8HF £1,400,000 (£333.33/sq ft) 6.40% Net Initial Yield
INVESTMENT HIGHLIGHTS
- The premises form part of the Royal Sands development, a new development of some 107 residences and commercial space on the beach front
- The commercial space is currently being let and will be principally occupied by food & beverage occupiers, offering a range of different cuisine
- There is approximately 16,400 sq ft of commercial space within the development and the proposed 80 bed hotel.
EXECUTIVE SUMMARY
The Long Leasehold interest is being offered for sale with a guide price of £1,400,000 (One Million, Four Hundred Thousand Pounds) which shows a net initial yield of 6.4% after allowing for purchasers costs of 6%.
TENURE
The premises will be sold with a new 999 year lease.
TENURE
The premises will be sold with a new 999 year lease.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Restaurant
Property Size
4,200 sq ft
Costar Property Class
B
Year Built
2022
Price
£1,400,000
Price per sq ft
£333.33
Yield
6.40%
NOI
£89,600
Tenancy
Single
Number of Floors
1
Plot ratio
0.25
Total Plot Size
0.39 ac
Frontage
64 ft on Beach Drive
AMENITIES
- 24 Hour Access
- Signage
- Storage Space
1 1
NEARBY MAJOR RETAILERS
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Royal Sands development- Perico Lounge | 1 Beach Drive
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