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
10 Years
Years Left on Lease
8m
Area
1,668 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor restaurant with ancillary accommodation at first floor
- Rent review is outstanding from 8th April 2021
- Tenant break option in 2021 NOT exercised
- 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 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.
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.
