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81 King St 4,607 SF Retail Building Knutsford WA16 6DX $2,198,446 ($477.20/SF) 5.44% Cap Rate
INVESTMENT HIGHLIGHTS
- The property comprises a high quality, well-invested bar and restaurant in a strong demographic trading location.
- Lease commenced on the 4th February 2013.
- Current passing rent £96,000 per annum.
- The freehold property is located on King Street, Knutsford and is entirely let on a FR&I lease to a National Restaurant Operator.
- Long lease expiring on the 3rd February 2038, with 13 years unexpired.
- RPI linked rent reviews every five years with 1% and 3.5% cap and collar.
EXECUTIVE SUMMARY
The investment property which is being sold with the benefit of a lease to Living Ventures Restaurants Limited (trading as Gusto Restaurants Limited) for a term of 30 years expiring on the 3rd February 2038. The current passing rent is £96,000 per annum with a rent review scheduled for the 4th February 2028 and every five years thereafter, based on an RPI index linked mechanism with a 1% and 3.5% cap and collar per annum
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Restaurant
Building Size
4,607 SF
Building Class
B
Year Built
1850
Price
$2,198,446
Price Per SF
$477.20
Cap Rate
5.44%
NOI
$119,595
Tenancy
Single
Building Height
4 Stories
Frontage
26’ on King Street
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81 King St
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