Located in the heart of Plymouth on the south coast of Devon, this prime leisure investment opportunity was purchased for in excess of £4,500,000 reflecting a Net Initial Yield in excess of 9.25% after allowing for usual purchaser costs.
The property of circa 33,000sqft is let to the strong covenants of Grosvenor Casinos Limited, Marston’s Estates Limited and The Stonegate Pub Company Limited for a minimum term to 2028 with Stonegate having extended to 2038. The current income is in the region of £464,000 per annum.
This opportunity represents an excellent return on capital invested within a vibrant city.
Similar investment opportunities required within Plymouth or other locations offering similar returns.