Coventry takeaway site sold as part of £260,000 deal

A Coventry takeaway with a flat above has been sold for £260,000.

The site of Hickory Chickory on 577 Stoney Stanton Road has been purchased by a Leicester investor along with the flat above.

The pair were put on the market by commercial agents Bond Wolfe.

James Mattin, managing director agency at Bond Wolfe, said: “Fast food takeaways with residential upper parts are highly sought-after investments currently.

“Post-pandemic, investors see minimal risk with these types of businesses, coupled with secure income from the residential element.”

The property sits in the middle of a retail parade on the busy B4109 Stoney Stanton Road, linking Coventry city centre with the main A444.

The Coventry takeaway business is on the ground floor and the first floor flat generates £26,000 per annum in rent at present.

The fried chicken takeaway business has eight years of a 15-year lease remaining, with a passing rent of £18,200, while the self-contained first-floor flat is let separately at £640 per calendar month.