Other

The Tramway, 165-169 Victoria Road West, Thornton-Cleveleys, Blackpool

 

Price: £1,727,000 - Initial Yield:7.36%

Date: Q2 2016

Acting on behalf of a Patrizia and Oaktree Capital Management we advised on the sale of this leisure investment to a private investor for £1.727m, reflecting a net initial yield of 7.36%.

The property comprises a well let public house with open plan ground floor bar/restaurant area with first floor flat totalling 15,811 sq ft. Let to Mitchells & Butlers Retail Limited until 24th December 2033 providing 17.63 years unexpired (7.63 years until tenant break). Current rent passing is £135,000 p.a, equating to £8.53 psf overall.

Contact

Simon Lewis

Tel: 020 7493 3330
Mob: 07831 527 960
slewis@lewisellis.co.uk

David Kos

Tel: 020 7493 3330
Mob: 07709 813267
dkos@lewisellis.co.uk


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