Papa John’s, Midsomer Norton
55 High St, Midsomer Norton, Radstock BA3 2DQ, UKBasic Facts
| Property ID: 14698 | Brochure Link: Download Brochure |
| Post Updated: 2022-04-19 11:20:25 | Status: Sold |
| Type: Restaurant | Tenure: Virtual Freehold |
| Area: 1286 sq ft | Gross Rent: £ 20,000 |
| Gross Yield %: 6.2 | Lease Term: 15 years from Oct '21 |
| Lease Term Expiry Date: 21/10/36 | Years left on Lease: 12.5 |
| VAT applicable: No |
Property Description
- Virtual Freehold Blue-Chip Takeaway Investment.
- The property is arranged on ground with approx. area 1286 sq ft.
- Property benefits from car parking spaces in front of building.
Location Description
- Midsomer Norton is located near the Mendip Hills, some 10 miles south-west of Bath, 10 miles north-east of Wells and 16 miles south east of Bristol.
- The town benefits from good road communications being served by the A362 and the A367, and from being approx 3 miles from the A37 and the A39 trunk road.
- The property is situated in the town centre on the east side of the High Street, close to its junction with Radstock Road (A362).
- Occupiers nearby include a Lidl supermarket, Domino’s Pizza, The Entertainer and M & Co amongst many other local businesses.
Tenancy and Additional Notes
- Ground floor let to Papa John’s (GB) Ltd for 15 years from 22nd October 2021 FR&I for a current rent of £20,000 p.a.
- RPI linked reviews every 5th year (min 1% & max 3%), the next rent review is in 2026.
- Six week completion available.
- Virtual Freehold. Held on a lease for 999 years from 10.06.2021 at a peppercorn rent.
Features
Blue-chip tenant
Customer car parking
Finance available
Lease term: 10 - 15 years
Market Town
Suitable for a SIPP
Under £500k
Virtual Freehold
