Sainsburys, Former Barley Mow, High Street, Wollaston, Stourbridge, DY8 4NY
Franck-Steier Price Ltd (FSP) has recently completed the sale of the former Barley Mow public house in Wollaston, Stourbridge on behalf of Marstons Pub Company.
The property has been sold to a private investor. The property is let to Sainsburys for a term of 15 years with a tenant option to break at 10.
The initial rent of £52,500 per annum equates to £11.75 per sq.ft. The property extends to 4,468 sq.ft and has a larger rear car park.
The purchase price was £792,500 which reflects a net initial yield of 6.26% assuming usual costs of purchase of 5.80%.
The purchaser was represented by Shortland Penn & Moore.