INCOME-PRODUCING COMMERCIAL PREMISES

Description

Income-producing commercial premises for sale at Calle Almendro 22, with a second access from Costanilla de San Pedro 11, in the heart of Madrid de los Austrias, one of the areas most visited by tourists arriving in the capital. The premises house one of the most iconic nightlife venues in Madrid's historic centre, open for more than 40 years. They have a smoke extraction system, a Special Bar Licence and a capacity of 186 people. The space is laid out over a 122 m² mezzanine and a 114 m² semi-basement, totalling 236 m². The tenant is Berlín Cabaret, under a contract signed on 1 August 2019 for a 15-year term. Rent is 7,597.80 € per month, updated annually in line with the general CPI, with uplifts of CPI + 10 points at the end of years 5 and 10. A 2-month deposit (13,400 €) is held, service charges of 101.93 €/month are borne by the landlord and the property is exempt from property tax. Yield of 5.40%.