Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a prime roadside restaurant investment opportunity let on a new 10 year lease with no breaks.
Arranged across ground floor, the property occupies a prime pitch at the corner of London Road and Needlepin Way. Immediately opposite the access to Tesco Superstore and Lidl. Other nearby occupiers include Travelodge, Premier Inn, Costa, McDonalds and a Shell Service Station.
The property is fully let on a new 10 year lease with no breaks to Enfes Restaurant Limited and paying £86,000 per annum. The lease includes index linked rent reviews in the 5th year and annually thereafter.
The property forms part of a prime roadside retail estate adjacent to the A421 the principal arterial route outside Buckingham and linking Milton Keynes, Buckingham, Brackley and the M40.
Tenure
Freehold
Tenancy
The property is let to Enfes Restaurant Limited on a new 10 year lease expiring 2036 and paying £86,000 per annum.
The lease is on full repairing and insuring terms and includes annual index linked rent reviews, with the first review in 2031. The reviews include a "cap and collar" of 1%-4% per annum.
Enfes Restaurant Limited
The subject property is the tenants second restuarant location. We understand the current location has been trading for 6+ years with a minimum turnover of £2.2m per annum
Rent
Notes
We understand the property is elected for VAT. It is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC).