Belmont Buildings High St 1,144 SF Retail Building Crowborough TN6 2QB $466,566 CAD ($407.84 CAD/SF) 6.40% Cap Rate

Investment Consideration:
Gross Initial Yield: 6.40%
Rental Income: £16,000 p.a.
VAT is applicable to this property
Let until 2038 (No Breaks). Rent review (open market) every 5th year
Comprises ground floor restaurant with ancillary accommodation at first floor
Occupiers close by Boots, Santander, NatWest, Barclays and WHSmith amongst others.
Property Description:
A mid terraced building comprising ground floor restaurant with ancillary accommodation at first floor (internally accessed), providing the following accommodation and dimensions:
Ground Floor: 58 sq m (624 sq ft)
Open plan restaurant (60 covers)
First Floor: 48 sq m (520 sq ft)
Full Kitchen, Storage, Customer and Staff WCs
Tenancy:
The property is at present let to Tiger Family Ltd (with personal guarantor) for a term of 20 years from 4th September 2018 at a current rent of £16,000 per annum and the lease contains full repairing and insuring covenants. Rent review (open market) every fifth year. Deposit held of £4,000.
Location:
Located in Crowborough town centre adjacent to Morrisons and The Original Factory Shop, close to WHSmith, Santander, Boots Pharmacy, Costa Coffee and a host of local traders. Crowborough lies approx. 21 miles north east of Brighton, 24 miles south of Croydon and benefits from good road links via the A26.