Restaurant, London, UK

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Restaurant, London, UK

28,978,000 €
52,879 € /m²
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  • Total area
    548 m²
  • Yield
    3.9%
  • Built in 
    2017
Details
Property parameters
  • 1 floor
Financial performance
  • Annual income: 1,056,006 €
Tenants
  • Fully let
  • End of lease: 2037
Transaction costs
  • Broker: 2.0%

A restaurant in the center of London with a long-term lease agreement.

Description

The building has a basement of 174 m².

The planning consent restricts the restaurant to 220 covers at one time.

The restaurant was opened in the spring of 2017.

Financial performance

The cost of the property is 24,500,000 £.

Absolute annual income is 950,000 £.

The current yield of 3.9%.

Tenants

The tenant is a network of Japanese restaurants, numbering more than 140 branches in 17 countries.

The lease agreement is valid through 2037. The contract provides a 12-month rent free period.

Transaction costs

The brokerage fee is 2%.

Location and nearby infrastructure

The property is located in the area of Covent Garden. This is a popular shopping area, where the Royal Opera House is also located.

The museums, theaters, a sports hall and a library are situated not far from the building.

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