East Grinstead coffee house investment heads to market
A virtual freehold property in East Grinstead, West Sussex currently let to a coffee house operator has been placed on the market with a guide price of £478,000, reflecting a net initial yield of 8.0%.
Located at Unit B in Queens Walk, the property extends to 1,700 sq ft and has recently been let to Coffee#1 on a 10-year lease, expiring January 2035 with a tenant-only break option six years in.
The asset generates a total current income of £34,000 per annum, rising to £40,000 per annum from February 2027.
It is situated below a modern newbuild development, which provides 129 residential dwellings.
Located within the heart of East Grinstead, Queens Walk is home to tenants such as Pets Corner, Carlo Lounge, Xcelerate Gyms, Iceland, Peacocks, Boots Opticians, and Card Factory.
Other retailers located on the adjacent London Road include Boots, Waterstones, Holland & Barrett, Poundland, Fatface, and White Stuff.
Situated 27 miles south of London and 21 miles north of Brighton, East Grinstead is a popular commuter town with efficient road and rail links to London, Gatwick Airport, and the wider South East.
Cited Property has been appointed to find a suitable purchaser.