Available
Hexham – Restaurant
9A Battle Hill, Hexham, Northumberland NE46 1BAVirtual Freehold Restaurant Investment
Price
£160,000
Rent P.A.
£13,500
Yield
8.44%
Tenure
Leasehold
Lease Term
5 Years
Years Left on Lease
4y 9m
Area
1,668 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Lease renewal. Tenant in occupation since 2016.
- Let until April 2031, no breaks. Rent review in 2029 open market upward only
- Comprises ground floor restaurant with ancillary accommodation at first floor
- Located on Battle Hill, which forms part of the main vehicular route through Hexham town centre, with occupiers nearby including Post Office, HSBC, Greggs and more.
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
Comprises ground floor restaurant with ancillary accommodation at first floor, providing the following accommodation and dimensions:
Ground Floor: 40 sq m (430 sq ft)
Open plan restaurant, storage, wc
First Floor: 115 sq m (1,238 sq ft)
Kitchen. storage, office, ancillary
Total GIA: 155 sq m (1,668 sq ft)
Ground Floor: 40 sq m (430 sq ft)
Open plan restaurant, storage, wc
First Floor: 115 sq m (1,238 sq ft)
Kitchen. storage, office, ancillary
Total GIA: 155 sq m (1,668 sq ft)
Tenancy Description
The property is at present let to an Individual t/a Greek Restaurant for a term of 5 years from 8th April 2026 at a current rent of £13,500 per annum and the lease contains full repairing and insuring covenants. Rent review on 08.04.2029 open market upward only. No breaks. Lease renewal. Tenant in occupation since 2016. Lease within the Landlord and Tenant Act 1954
Tenure:
Long leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.
Tenure:
Long leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.
Tenancies & Accommodation
Location Description
The property is at present let to an Individual t/a Greek Restaurant for a term of 10 years from 8th April 2016 at a current rent of £13,500 per annum and the lease contains full repairing and insuring covenants. Rent review is outstanding from 8th April 2021. Tenant break option in 2021 NOT exercised. Lease within the Landlord and Tenant Act 1954.
