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Golden Ball 2 Cromwell Rd 2,061 sq ft Retail Property York YO1 6DU £575,000 (£278.99/sq ft) 8% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Freehold public house investment.
- Property arranged over three levels extending to 2,772 Sq Ft (258 Sq M).
- Current rent of £48,343 per annum.
- The rent is subject to five yearly open market reviews and annual RPI increases with a collar of 1% and cap of 4% (except in the open market review year).
- Business unaffected by sale.
- Entire property let to the Golden Ball Co-operative Limited.
- Site extending to 0.09 acres.
- Lease expires July 2043.
- We are instructed to invite offers in excess of £575,000 (8.0% NIY).
EXECUTIVE SUMMARY
We are instructed to invite offers in excess of £575,000 (8.0% NIY)
The entire property is let to The Golden Ball Co-Operative Limited on a 20 year lease from 28 July 2023 at a current rent of £48,343 per annum which is subject to five yearly open market reviews and annual RPI increases with a collar of 1% and cap of 4% (except in the open market review year). A rent deposit of £23,635 is held by the landlord.
The entire property is let to The Golden Ball Co-Operative Limited on a 20 year lease from 28 July 2023 at a current rent of £48,343 per annum which is subject to five yearly open market reviews and annual RPI increases with a collar of 1% and cap of 4% (except in the open market review year). A rent deposit of £23,635 is held by the landlord.
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Bar
Property Size
2,061 sq ft
Costar Property Class
C
Year Built
1879
Price
£575,000
Price per sq ft
£278.99
Yield
8%
NOI
£46,000
Tenancy
Single
Number of Floors
2
Plot ratio
0.53
Total Plot Size
0.09 ac
Frontage
25 ft on Cromwell Road
AMENITIES
- 24 Hour Access
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Golden Ball | 2 Cromwell Rd
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