Apple Portfolio - 7 Licensed Retail Investments

On the instructions of the Joint Fixed Charge Receivers, Phil Bowers and Neville Kahn, of Deloitte LLP, Fleurets is instructed to sell 7 high street licensed retail properties, comprising the Apple Portfolio.

Please follow the link below to download a copy of the full brochure.

The portfolio has the following key attributes that I would like to draw to your attention:

  • Strong covenants including JD Wetherspoon, Fuller Smith & Turner, City of Sunderland, Scottish & Newcastle Ltd and ASK Restaurants Ltd.
  • All properties held freehold.
  • No vacant accommodation.
  • Total current rent passing of £1,070,152 per annum, with fixed uplifts included within several leases let to J D Wetherspoon Plc (three) and Rileys Leisure Limited (one).
  • Average weighted unexpired lease term of 19.5 years and 14.3 years to break options.

 

Download Brochure

 

Our clients have instructed us to seek offers in excess of £12,250,000 (Twelve Million Two Hundred and Fifty Thousand Pounds) subject to contract for the freehold interests in the properties. A purchase at this level would reflect a net initial yield of 8.25% assuming normal purchasers costs of 5.8%.

If you require further information, please do not hesitate to contact either me or our joint agent, John Rodgers, Drivers Jonas Deloitte, on 020 7303 3278 (johnrodgers@djdeloitte.co.uk).

We look forward to hearing from you if the portfolio is of interest.

Graeme Bunn
Director
graeme.bunn@fleurets.com
Tel: 020 7280 4740