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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:
Commercial
Net Initial Yield:
4%

Income

£170,000 per annum

Description

  • 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.

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