Kings William IV | 83 The St
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Kings William IV 83 The St
3,400 SF Retail Building Leatherhead KT24 6BG £1,000,000 (£294/SF) 5.10% Net Initial Yield
Investment Highlights
- Public house
- Painted brick and rendered elevations beneath a pitched and hippie tile roof
- Two storey detached building
Executive Summary
Offers in excess of £1,000,000 (5.1% NIY) and a reversionary yield of 9.9%, assuming the usual purchaser's costs.
The entire property is let to Allium Pubs Limited on a 20 year lease from 15 December 2023 at a current rent of £53,750 per annum which increases to £55,000 per annum on 15 December 2024 and £105,000 per annum on 15 December 2025. The rent is subject to five yearly open market reviews and annual RPI increases with a collar of 2% and cap of 5% (except in the open market review year). A rent deposit of £26,558 is held by the landlord.
The entire property is let to Allium Pubs Limited on a 20 year lease from 15 December 2023 at a current rent of £53,750 per annum which increases to £55,000 per annum on 15 December 2024 and £105,000 per annum on 15 December 2025. The rent is subject to five yearly open market reviews and annual RPI increases with a collar of 2% and cap of 5% (except in the open market review year). A rent deposit of £26,558 is held by the landlord.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Building Size
3,400 SF
Year Built
1900
Price
£1,000,000
Price Per SF
£294
Net Initial Yield
5.10%
NOI
£51,000
Tenancy
Single
Number of Floors
2
Building FAR
0.20
Land Acres
0.39 AC
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Kings William IV | 83 The St
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