19 Sheep St 3,713 sq ft 100% Let Retail Property Wellingborough NN8 1BL £350,000 (£94.26/sq ft) 8.57% Net Initial Yield

Investment Consideration:
VAT is applicable to this property
Comprises Grade II Listed detached public house with 3-bedroom owner`s accommodation
Occupiers nearby including Castle Theatre, Museum, Estate Agents, Barber`s and more.
Property Description:
Comprises Grade II Listed detached public house with restaurant and 3-bedroom owner`s flat above, providing the following accommodation and dimensions:
Ground Floor: Open plan bar & restaurant, kitchen, snug area, wc`s
First Floor: 3 Bedrooms, lounge, kitchen/dining, bathroom
Total GIA: 345 sq m (3,713 sq ft)
Tenancy:
The property is at present let to SFM Pubs Ltd (with personal guarantee) for a term of 10 Years from 1st April 2023 at a current rent of £30,000 per annum and the lease contains full repairing and insuring covenants. Rent review on 01.04.26 and every 3 years after linked to RPI. No breaks.
Location:
This attractive Grade II listed inn is located in the heart of the large popular Northamptonshire market and commuter town of Wellingborough only a stone’s throw from the Castle Theatre and museum. Wellingborough sits on the North side of the River Nene approximately 11 miles from Northampton and is surrounded by lovely affluent and sought-after villages. The town itself is constantly expanding with housing being built all around and it is now as popular as ever with commuters as the rail line to London has now been electrified making travel even easier. The nearby road networks are excellent with the A6, A14, A45, A43, A1 and M1 all within easy reach.