Pizza Hut, Unit 4, The Crystal Centre, Platts Road, Stourbridge DY8 4YR
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Long let suburban retail investment. Part of a highly prominent retail scheme at the junction of Platts Road and the busy A491 Audnam High Street, one of the main arterial routes into Stourbridge.
Single ground floor unit in modern terrace with communal customer car park.
The unit extends to 1,071 sq ft.
The lease was originally taken by Dhoke 1 Ltd, a Pizza Hut franchisee. The unit has operated as a Pizza Hut outlet since 2005. A lease renewal was agreed on 19 February 2021 for a term of 15 years. The lease has recently been assigned to another Pizza Hut franchisee, Exultant Ltd. The tenant has an option to break at Year 10.
The current passing rent is £21,600 per annum.
We are instructed to seek offers in excess of £315,000 which reflects an attractive net initial yield of 6.63%, after purchaser’s costs of 3.58%.
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