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Multi-million pound The Ivy St Albans site for sale

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.”