Prime South East Long Income Investment

The property is situated in a busy location in the heart of St Albans’ retail and leisure core. Nearby occupiers include Fat Face, Japes Pizza, Nando’s and Hotel Chocolat.

• St Albans is one of the UK’s most affluent and desirable Cathedral Cities, located just 20 miles north west of Central London.
• Situated on Chequer Street, a core central location and established restaurant pitch.
• Let to Cokertme Limited t/a Megan’s with a guarantee from Chelsea Fine Food Limited – rated A2 by Dun & Bradstreet ‘low-moderate risk.
• Well secured on a Full Repairing & Insuring lease expiring 23rd July 2040 – 14.8 years unexpired, without break.
• July 2025 rent review settled at £125,000 per annum.
• Freehold.

Proposal

We are instructed to seek offers in excess of £1,810,000 (One Million, Eight Hundred and Ten Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive net initial yield of 6.50%, after allowing for standard purchaser’s costs of 6.22%.