Sold

Soho, London W1 – Rare Long-Let Freehold Investment Opportunity

26 Dean Street, Soho, London W1

Sold for £2,412,500

Property Type:
Commercial
Sub Type:
Leisure
Tenure:
Freehold
Net Initial Yield:
3.12%
Site Area:
2,325 sq.ft [216 sq.m]

Tenancy

The property is single let to Leoni’s Quo Vadis Limited (t/a Barrafina & Quo Vadis) until 25 December 2034 (14.1 years to expiry).

The lease is subject to five yearly upwards only open market rent reviews. The next rent review will be 26 December 2020.

The current passing rent totals £77,100 per annum, which reflects an average rent of
£33.16 per sq ft.

Income

£77,100 per annum

Description

  • Freehold.
  • Restaurant and ancillary accommodation totalling 2,325 sq ft (216.1 sq m) arranged over basement, ground and three uppers floors.
  • Single let to Leoni’s Quo Vadis Limited until 25  December 2034 (circa 14.1 years to expiry). Quo Vadis is a historic Soho private members club and restaurant, founded almost a 100 years ago.
  • Restaurant t/a Barrafina’s flagship London restaurant, which has retained its Michelin star since awarded in 2013.
  • Total passing rent £77,100 per annum, which reflects an average rent of £33.16 per sq ft.
  • Next open market rent review December 2020.
  • No VAT applicable.