Commercial property with a gastropub in the central Liverpool
The property is a unique investment opportunity situated on the ground floor of the Grade-II* listed historic Tower Building in the Dock Town Area of Liverpool, which forms part of the World Heritage Site. The profit-generating asset is currently on lease to a strong covenant, a well-established pub and eatery for the term of 30 years. Tower Building was built in 1908 and has a long history of office use until in 2006 it was converted into high-end residential apartments.
- Floor area (GIA): 187 sqm
- Covenant is a well-established restaurant with a historic presence in Liverpool
- Remaining FRI lease term: 12 years (from 2014 to 2031 with 5-year periodic upward only rent reviews)
- Guiding price: £ 165,000 (c. 7% NIY)
- Current rent income per annum: £ 23,000 + VAT
- Leasehold for 999 years with peppercorn rent