For Sale

Winchester – Prime Leisure Investment Let to The Ivy

The Ivy, 103-104 High Street, Winchester, SO23 9AH

Offers in excess of £6,750,000

Property Type:
Commercial
Sub Type:
Leisure
Tenure:
Freehold
Net Initial Yield:
4.45%

Income

£320,000 p.a

Description

  • Winchester is a highly desirable and attractive Cathedral City in the South of England
  • The City is regarded as one of the most affluent Promis Centres in the UK
  • The property occupies prime position on the High Street benefiting from high footfall
  • The property comprises a ground floor restaurant with basement and first to third floor office accommodation
  • Total floor area of 13,161 sq ft
  • Let on a 25 year lease to Troia (UK) Restaurants Limited with a guarantee from Caprice Holdings Limited
  • Long unexpired lease term of 21.3 years
  • Rent of £320,000 per annum reflecting a low £24.31 psf
  • Freehold
  • The upper parts are sub let to The University of Winchester until the 15th July 2023 at £150,000 per annum
  • Long term opportunity to develop the upper parts to residential, subject to vacant possession and the necessary consents