On behalf of private clients, Cooper Rose Real Estate has acquired the freehold interest in The Bell Hotel, Orford Hill, Norwich for a price of £4.85m, reflecting a net initial yield of 5.38%, rising to 5.83% later this year.
The Bell Hotel is one of the strongest performing Wetherspoons in the UK and has recently undergone a £2.2m refurbishment.
The property is let to JD Weatherspoon plc on a lease with fixed increases until 2048 and Santander UK plc until 2020. The total current income is £278,000 per annum.
Contact Ben Rose or Giles Cooper