Pub for sale

Trinity Street, Coventry, West Midlands, CV1

Under Offer £3,500,000
12,170 sq. ft.

Property Description

Commercial information

  • 12,170 sq ft (1,130 sq m)

Key features

  • Fully let to J.D. Wetherspoon
  • Producing 175,000 per annum exclusive .
  • 5 yearly upward only rent reviews.
  • Prominent city centre location.

Full description

Tenure: Freehold

SITUATION
The property is situated in the heart of the city centre, occu-pying a prominent position on the corner of New Buildings, by the pedestrian entrance to the Cathedral Quarter which contains many of Coventry's most popular tourist attractions including Coventry Cathedral, St. Mary's Guildhall and Holy Trinity Church. Also ideally located for the city's central Shopping Quarter, the property is directly opposite Primark and West Orchards Shopping Centre and amongst many multiples including Nando's, McDonald's, KFC, Wilko, Greggs, Ladbrokes and Sainsbury's whilst being within a ? of a mile of Coventry University. Coventry is a major commercial city located some 18 miles east of Birmingham, 9 miles north of Warwick and enjoying easy access to the M6 (Junctions 2 and 3).

TENURE
Freehold

VAT
We are advised that VAT does not apply in this instance, however, prospective purchasers should satisfy themselves in this regard.

EPC
Available upon request.

MONEY LAUNDERING
In accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful Purchaser.

PROPERTY
An attractive medieval style building comprising a Large Public House planned on ground and first floors with internal access to 2 Self-Contained Flats plus Ancillary Accommodation on the sec-ond floor. In addition the property benefits from a Roof Terrace on the first floor.

TENANCY
The entire property is let on a full repairing and insuring lease to K/S Coventry, England (a company incorporated in Denmark) and underlet to J.D. Wetherspoon - for a term of 35 years from 18/1/1999 to 17/1/2034 , with an option to determine the lease on the 18/01/2024, at a passing rent of 175,000 per annum exclusive. The lease is subject to five yearly upward only rent reviews, the next being on 18/1/2019. A copy of the lease is available upon request via the selling agents.

GUIDE PRICE
Offered at 3,500,000 for the Freehold interest, subject to contract and the above tenancy. A purchase at this level reflects a net initial yield of 4.69%, allowing for purchasers costs of 6.5%


More information from this agent

Nearest stations

  • Coventry (0.6 mi)
  • Canley (1.8 mi)
  • Coventry Arena (2.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bond Wolfe, West Bromwich

8th Floor West Plaza, 144 High Street, West Bromwich, B70 6JJ

0121 396 0838 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Coventry (0.6 mi)
  • Canley (1.8 mi)
  • Coventry Arena (2.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bond Wolfe, West Bromwich

8th Floor West Plaza, 144 High Street, West Bromwich, B70 6JJ

0121 396 0838 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference Investment_The_Flying_Standard_2_10_Trinity_Street_Coventry. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Bond Wolfe, West Bromwich. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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