Private investor has appetite for takeaway-residential combo
A Leicester-based investor has snapped up a Coventry take-away with a flat above in a £260,000 deal.
The property sits in the middle of a retail parade on the B4109 Stoney Stanton Road, linking Coventry city centre with the main A444.
The takeaway business on the ground floor and first floor flat generates £26,000 a year in rent at present.
Commercial agents Bond Wolfe secured the freehold sale to a Leicester-based portfolio investor.
James Mattin, managing director agency at Bond Wolfe, said: “Fast food takeaways with residential upper parts are highly sought-after investments currently.
“Post-pandemic, investors see minimal risk with these types of businesses, coupled with secure income from the residential element.”
The ground floor of 577 Stoney Stanton Road is occupied by a fried chicken takeaway business on a 15 year lease, with eight years still to run, at a passing rent of £18,200.
The self-contained first floor flat is let separately at £640 per calendar month.