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Kings Head The Street 5,579 sq ft Retail Property Gosfield CO9 1TP £1,050,000 (£188.21/sq ft) 7.55% Net Initial Yield
Investment Highlights
- Car park
- The Kings Head is situated at the intersection between Church Road and The Street in a predominantly residential area.
- Four bedroom managers accommodation at first floor.
Executive Summary
We are instructed to invite offers in excess of £1,050,000 (7.55% NIY)
The entire property is let to The Wild Pub Company Limited on a 5 year lease from 28 August 2024 at a current rent of £34,584 per annum and an annual tie release fee of
£49,264, which are both subject to annual reviews reflecting the change in the RPI over the preceding 12 months, subject to a minimum increase of 2% and a maximum
increase of 6%. A rent deposit of £8,420 is held by the landlord. The lease is contracted out of the security of tenure provisions of the Landlord and Tenant Act 1954.
The entire property is let to The Wild Pub Company Limited on a 5 year lease from 28 August 2024 at a current rent of £34,584 per annum and an annual tie release fee of
£49,264, which are both subject to annual reviews reflecting the change in the RPI over the preceding 12 months, subject to a minimum increase of 2% and a maximum
increase of 6%. A rent deposit of £8,420 is held by the landlord. The lease is contracted out of the security of tenure provisions of the Landlord and Tenant Act 1954.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Bar
Property Size
5,579 sq ft
Costar Property Class
C
Year Built
1450
Price
£1,050,000
Price per sq ft
£188.21
Yield
7.55%
NOI
£79,275
Tenancy
Single
Number of Floors
2
Plot ratio
0.46
Total Plot Size
0.28 ac
Frontage
31 ft on The Street
Amenities
- 24 Hour Access
- Restaurant
- Wheelchair Accessible
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