TEA-RIFFIC SALE OF COSTA COFFEE IN CLIFTON
HRH Retail has successfully advised on the sale of this prime freehold retail investment for a price of £2 million reflecting a net initial yield of 6.12%.
The property is situated on Queens Road in Clifton, Bristol. The property enjoys a unique prime trading location immediately opposite the main entrance to Bristol University ensuring a very visible and high profile frontage to both students and visitors.
The ground floor and basement are let to Costa Limited on a 10 year lease from January 2017 at a rent of £130,000 per annum (approximately 7 years unexpired). The residential upper parts are sold off on a 999 year long leasehold.
HRH Retail and Savills jointly advised the vendor, a private investor. The purchaser, South Gloucestershire Council was advised by Stewart Montrose.