Log In/Sign Up
Your email has been sent.
62-63 St. Marys Butts 5,816 SF Retail Building Reading RG1 2LG $2,522,154 ($433.66/SF) 5.85% Cap Rate
Investment Highlights
- Entire building let to Axman Limited T/A Coconut Bar & Kitchen
- Net Initial Yield of 4.72% assuming normal purchaser’s costs
- Current Rental Income of £85,000 pax
Executive Summary
The freehold investment is available at a price of £1,695,000 subject to contract and exclusive of VAT, which equates to a net initial yield of approximately 4.72% after assuming normal purchasers costs.
The entire property has been let to AXMAN LIMITED T/A COCONUT BAR AND RESTAURANT on a full repairing and insuring lease for a term of 20 years commencing from the 18th October 2013 being subject to five yearly upward only rent reviews at a rent of £85,000 per annum exclusive. The Tenants are required to pay a rent deposit equivalent to six months rent plus VAT (£45,000). This however, has been used to pay the rent during COVID-19.
The entire property has been let to AXMAN LIMITED T/A COCONUT BAR AND RESTAURANT on a full repairing and insuring lease for a term of 20 years commencing from the 18th October 2013 being subject to five yearly upward only rent reviews at a rent of £85,000 per annum exclusive. The Tenants are required to pay a rent deposit equivalent to six months rent plus VAT (£45,000). This however, has been used to pay the rent during COVID-19.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Restaurant
Building Size
5,816 SF
Building Class
C
Year Built
2005
Price
$2,522,154
Price Per SF
$433.66
Cap Rate
5.85%
NOI
$147,546
Tenancy
Single
Building Height
3 Stories
Building FAR
1.34
Lot Size
0.10 AC
Parking
2 Spaces (0.34 Spaces per 1,000 SF Leased)
Frontage
27’ on St Marys Butts St
Amenities
- Bus Line
- Commuter Rail
- Restaurant
- Security System
- Signage
- Wheelchair Accessible
- Accent Lighting
- Energy Performance Rating - D
- Automatic Blinds
- Storage Space
- Car Charging Station
- Recessed Lighting
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
1 1
Nearby Major Retailers
1 of 3
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
62-63 St. Marys Butts
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.