Leading Merseyside commercial property agent Sutton Kersh, is marketing for sale the freehold of a substantial retail investment on Bold Street in Liverpool City Centre.
The unique art deco style three-storey building, located at 65-67 Bold Street, is currently fully occupied by popular eatery and hangout Leaf Tea Cafe Ltd on a 15year Full Repair and Insurance lease. With 5 yearly upward rent reviews only, the building has good potential for rental growth.
Benefitting from planning for A1 Retail, A3 Restaurant / Cafe and A4 Drinking Establishment, the building comprises a substantial fully glazed net frontage of 10.78m, open plan ground floor and first floor sales areas of 273sq.m and 284sq.m respectively, and music/events areas on the second floor and basement.
Currently generating a 7% yield per annum, rising to 9.5% in year 3, the freehold of the building is valued in the region of £895,000 and is subject to the current tenancy agreement.
Jonathan Owen, director of commercial agency at Sutton Kersh comments, "The building is positioned within a well established trading area currently occupied by a number of local and national multiples including Size, Tesco, Subway, Oddbins, STA Travel, FACT, and a variety of speciality retailers, restaurants and bars. Fully occupied with a 15year lease already in place and good prospects for rental growth on rent review, the building provides a good investment opportunity."