Peak District Investment Sold
SMC, acting jointly with Saxton Mee, has sold Penny Pot Cafe at Edale in the Peak District National Park. The cafe is located close to the station and the main car park in this busy 'honeypot' location which is popular with tourists and outdoor enthusiasts alike. Penny Pot Cafe is let to the National Trust on a 15 year lease from 16 March 2009, but with a tenant's break in March 2019. The lease is full repairing (subject to a schedule of condition). The passing rent is £15,000 pa. The investment was sold for £220,000 which represents a net intial yield of 6.6% after allowing for purchaser's costs. The purchaser was a local individual.