Leisure property specialist, Fleurets is marketing the freehold investment sale of The Ivy, Verulam Road, St Albans, let to The Ivy Collection (Troia (UK) Restaurants).
The guide price is £2.865m, reflecting a net initial yield of 5%. The existing lease has circa 27 years unexpired on the term, with a guarantee from Caprice Holdings and a passing rent of £152,500 per annum.
Elysia Wilson-Gunn of Fleurets is handling the sale of the property and commented, “The 6,308 square foot property includes three flats above the restaurant with a capital value of £454 per square foot.
'The Ivy Brasserie is an exceptional operator and therefore we expect strong levels of interest.”
