Sainsburys, Former Barley Mow, High Street, Wollaston, Stourbridge, DY8 4NY
Franck-Steier Price has recently completed the sale of the former Barley Mow public house in Wollaston, Stourbridge on behalf of Marstons Pub Company.
The property has been sold to a private investor. The property is let to Sainsburys for a term of 15 years with a tenant option to break at 10.
The initial rent of £52,500 per annum equates to £11.75 per sq.ft. The property extends to 4,468 sq.ft and has a larger rear car park.
The purchase price was £792,500 which reflects a net initial yield of 6.26% assuming usual costs of purchase of 5.80%.
The purchaser was represented by Shortland Penn & Moore.