2-3 Great Hampton St 2,417 SF Retail Building Birmingham B18 6EL £375,000 (£155.15/SF) 8.32% Net Initial Yield

The property is held long leasehold (999 years at peppercorn rental).
The property is let to Dark Blue Café Limited on a 15-year lease from 1st April 2023.
The rent is £31,194 per annum exclusive payable monthly and is reviewable 5 yearly to open market value with break options at years 5 and 10.
Offers in excess of £390,000 are sought, subject to contract reflecting NIY of 7.78% (when assuming purchasers’ costs of 2.81%) and a low underlying Capital Value of £198.00 ft2.