London WC2 – Simmons Bar, Milford Lane, Covent Garden – Central London Freehold Investment Opportunity
Simmons Bar, Milford Lane, Covent Garden, London WC2R 3LL
Offers in excess of £4,000,000
- Property Type:
- Net Initial Yield:
£170,000 per annum
- Freehold investment ideally situated within one kilometre of Charing Cross, Leicester Square and Covent Garden.
- Attractive bar investment opportunity in the heart of Temple, one of the main legal districts in the capital
- Ideally located within close proximity of the West End and the City of London
- Whole building let to Simmons Bars (12 venues in London) for 20 years expiring May 2037
- Passing rent £170,000 per annum
- Simmons Bars parent company guarantee for the whole lease term
- Rent deposit equivalent to six months’ gross rent in the sum of £102,000 (One hundred and two thousand pounds).
- Arranged over five floors totalling circa 3,310 sq ft (307.5 sq m)
- A purchase at this level would reflect a capital value of £1,208 per sq ft
We are instructed by the vendor as joint selling agents to seek offers in excess of £4,000,000 reflecting a net initial yield of 4.0% assuming standard purchaser’s costs.