Well secured freehold town centre leisure investment let to Mitchells & Butlers Retail Limited

Reading is the county town of Berkshire with a large immediate population of around 175,000

Located in Reading’s main night-time pitch close to Slug & Lettuce, Pitcher & Piano and The Botanist

Large three storey property with two floors of bar and entertaining space, extending to circa 13,500 sq.ft

Fully-let to the excellent covenant of Mitchells & Butler Retail Limited until Lease expiry on 28/09/2033

Total passing rent of £172,500 per annum

Late night licence until 1pm on Friday and Saturday

Total Floor area of circa 13,500 sq.ft

Freehold 

We are instructed to seek offers in excess of £3,000,000 (Three Million Pounds) subject to contract and exclusive of VAT.

An acquisition at this level would reflect a Net Initial Yield of 5.40% allowing for purchaser’s costs of 6.45%