FREEHOLD INVESTMENT FOR SALE - FULLY LET, Restaurant with Living Accommodation (Occupier Business Unaffected)

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Overview

ID: #4024
Type: Investment
Contract: Freehold
Location: Alton
Area: 1,254 sq ft plus 5 bed accommodation abovesq ft

FREEHOLD INVESTMENT FOR SALE – FULLY LET

Restaurant with Living Accommodation

(Occupier Business Unaffected)

7 Normandy Street, Alton, Hampshire, GU34 1DD

  • Let to popular Thai Restaurant t/a Thai Boutique
  • 20 year lease from 17 May 2011
  • Ground floor restaurant with 5 bed self contained living accommodation above
  • £28,600 per annum exclusive income, 5 yearly rent review
  • Town centre location
  • Easy access to mainline station and A31
  • Net Initial Yield approximately 6%

Accommodation

(measured in accordance with RICS Code of Measuring Practice)
GROUND FLOOR
Net Frontage 18′ 5.5 m
Internal Width (max) 19′ 6″ 5.9 m
Restaurant Depth 54′ 8″ 16.7 m
Restaurant Area 951 sq ft 88.4 sq m
Kitchen 258 sq ft 24 sq m
Store/Lobby 45 sq ft 4.2 sq m
Total 1,254 sq ft 116.6 sq m
Cellar 415 sq ft 38.6 sq m

First/Second Floor

Living Accommodation:  Sitting Room, Kitchen, 2 Shower Rooms, 5 Bedrooms

Rates

Interested parties are advised to contact the Rating Authority, East Hampshire District Council.

EPC

An Energy Performance Certificate has been undertaken as is available on request.  The Rating is D.

Lease

The premises are let on a 20 year lease originally to Monty’s Bistro Ltd, as assigned to the Thai Boutique.  The current rent is £28,600 per annum exclusive, subject to 5 yearly Rent Review.

Note

The tenant occupier business is not affected by the freehold investment sale.

Terms

The accommodation is available Freehold.  Price Guide £450,000.

Viewing

Strictly by appointment with Glanfield Holmlund, Telephone 01420 544117 or Email: glanfield.holmlund@talk21.com

Map

Map available on request
Misrepresentation act 1967: Whilst all the information in these particulars is believed to be correct neither the agents nor their clients guarantee its accuracy nor is it intended to form part of any contract. The areas quoted are approximate.
Finance act 1989: Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax (VAT). Any intending purchasers or lesees must satisfy themselves as to the incidence of VAT in respect to any transaction.