The Barrel | Bromsgrove St
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The Barrel Bromsgrove St
2,486 SF 100% Leased Retail Building Kidderminster DY10 1PW $3,442,000 CAD ($1,385 CAD/SF) 6.42% Cap Rate
Investment Highlights
- Fully refurbished Vat free freehold investment opportunity.
- Comprising restaurant, 12 self-contained apartments, and 9 self-storage units.
- Town centre location close to retail and railway station.
- Currently producing £129,540 per annum, rising to £154,540 per annum once fully let.
Executive Summary
Tenure
Freehold with vacant possession.
Tenancy
Ground Floor restaurant – Let to The Monarch Spice for a term of 10 years from May 2023 at a passing rent of £18,000 per annum.
Self-contained apartments – All let on AST’s at a collective rent of £111,540 per annum.
Basement storage units – Now being offered to let at an estimated rental value of £25,000 per annum.
The passing rent is £129,540 per annum, which will rise to £154,540 per annum once the storage units have been let. A full breakdown of the rental income is available upon request.
Price
Offers based on £1,900,000, equating to a net initial yield of 6.42% and a reversionary yield of 7.66%.
Freehold with vacant possession.
Tenancy
Ground Floor restaurant – Let to The Monarch Spice for a term of 10 years from May 2023 at a passing rent of £18,000 per annum.
Self-contained apartments – All let on AST’s at a collective rent of £111,540 per annum.
Basement storage units – Now being offered to let at an estimated rental value of £25,000 per annum.
The passing rent is £129,540 per annum, which will rise to £154,540 per annum once the storage units have been let. A full breakdown of the rental income is available upon request.
Price
Offers based on £1,900,000, equating to a net initial yield of 6.42% and a reversionary yield of 7.66%.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Restaurant
Building Size
2,486 SF
Building Class
B
Year Built
1920
Price
$3,442,000 CAD
Price Per SF
$1,385 CAD
Cap Rate
6.42%
NOI
$220,976 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.08
Lot Size
0.70 AC
Frontage
Amenities
- Corner Lot
- Storage Space
1 of 1
Nearby Major Retailers
1 of 2
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
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The Barrel | Bromsgrove St
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