Odeon Cinemas, Ethorpe Crescent, Gerrards Cross, SL9 8PNMake an enquiry
Franck-Steier Price Ltd has recently completed the acquisition an Odeon Cinema in Gerrards Cross in behalf of CBRE Global Investors.
The property is located in the centre of Gerrards Cross and comprises a two screen cinema totalling 541 seats.
The property is let to Odeon Cinemas Ltd on a 25 year lease from July 2013 at a rent of £130,000 per annum. The lease is held on full repairing and insuring terms subject to annual increases to RPI, collared at 1% and capped at 5%.
The purchase price was £2,360,000 which reflects a net initial yield of 5.21% assuming costs of 5.80%.
JLL represented the vendors, Odeon Gerrards Cross Ltd.