JD Wetherspoon plc has acquired the freehold interest of 77 – 81 High Street, Camberley, Surrey, from private clients of AIB Dublin, for £1,830,000.
This price reflects a net initial yield of 5.94%.
The main public house element provides some 7,572 sq ft of commercial accommodation, with a two-bedroom ‘manager’s flat,’ on the second floor. This element was let to J D Wetherspoon plc (trading as The Claude du Vall), for a term of 35 years from 29th September 2001, expiring 28th September 2036, subject to a tenant break option exercisable on 29th September 2026. The passing rent was £115,000 per annum exclusive, with the lease providing for upward only rent reviews every five years.
At the rear of the property, there is an office mews building which is included in the freehold interest. This is let to a pension provider for a term of 125 years from 26th May 2005, at a fixed rent of £100 per annum.
The private clients of AIB Dublin were represented by Capita's real estate business. JD Wetherspoon plc was represented by BNP Paribas Real Estate.
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