311 Holbrook Lane, Coventry, CV6 4DG

Freehold Retail Investment For Sale

Property details

Type Investment
Tenure Freehold - subject to existing tenancy.
Price Offers Invited £395,000
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Features
  • A3/A5 two storey retail investment for sale.
  • Fully let producing £26,000 per annum
  • 18 years unexpired
  • 3 yearly rent reviews (no break clauses)
  • Prominent location
  • Freehold – offers based on £395,000
Location
The property occupies a prominent mid parade position with a retail parade on Holbrook Lane, which feeds off the main A444 via Holbrook Way. The property is located approximately 1km north east of the city centre in the district of Holbrook.
Description

The property comprises a two storey retail unit, benefitting from A3/A5 consent and currently trades as a restaurant. To the ground floor there is a restaurant and kitchen with additional seating area to the first floor. The property is fully let, producing a total of £26,000 per annum.

Price
Offers based on £395,000 are invited for the freehold interest, subject to the existing tenancy. A purchase at this level would represent a net initial yield of 6.32%.
Tenancy
The property, which is let on a 15 year fully repairing and insuring lease from 16/06/2025, has just had its lease extended until 2040 at a passing rent of £26,000. A copy of the lease is available upon request.
VAT
VAT may or may not be applicable. Purchasers should satisfy themselves in this regard.
EPC
Available upon request.
Anti Money Laundering
In accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.