Penny Hedge Pub and Lodge, 5 Botany Way, Whitby, North Yorkshire, YO22
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Pub for sale
Key features
- 25 year income with annual RPI increases
- Surety from Marston's PLC
Description
* Freehold
* Let to Marston's Estates Limited with surety from Marston's Plc
* Marston's Plc are a £872M turnover business
* Lease expires 10 June 2050 - over 25 years income certain
* Current passing rent of £303,678 per annum
- Public House - £195,082 per annum
- Hotel - £108,596 per annum
* Annual reviews to RPI with 1% collar and 4% cap. Next review due in June 2025
* Minimum of £9,055,000 in committed rent up to lease expiry
* By 2050, at the 1% annual collar, the yield will have increased to 10.36% and, at the 4% annual cap, to 22.18%
* We are instructed to seek offers in excess of £3,565,000, subject to contract and exclusive of VAT providing an attractive 8.0% net initial yield
Brochures
Penny Hedge Pub and Lodge, 5 Botany Way, Whitby, North Yorkshire, YO22
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Whitby Station1.0 miles
- Ruswarp Station1.0 miles
- Sleights Station2.5 miles
Notes
Disclaimer - Property reference whitby. 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 Carrick Real Estate, Manchester. 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.
Map data ©OpenStreetMap contributors.