Entirely let to McDonald’s Restaurants Limited on a 35 year lease until 2035 (no breaks)
Located opposite Pentewan Road Retail Park
Prominent corner position fronting busy A390
Nearby occupiers include KFC, Travelodge, Costa Coffee, B&Q and Texaco
On-site car parking for approximately 32 cars
Lot 6
Auction 27th March 2014
Rent £78,500 per Annum Exclusive
Status Sold
Price £1,320,000
Sector Restaurant
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
33 miles east of Newquay, 39 miles west of Plymouth, 69 miles west of Torquay
Roads
A390, A391
Rail
St Austell Rail
Air
Exeter International Airport, Newquay Cornwall Airport
Situation
The property is situated in a prominent corner location fronting the roundabout where Trevanion Road (A390) meets Pentewan Road just south of St Austell town centre. The property lies adjacent to Travelodge, KFC, Costa and Bathstore and opposite B&Q which forms part of Pentewan Road Retail Park, St Austell’s premier retail park.
Tenure
Freehold.
Location
Miles
33 miles east of Newquay, 39 miles west of Plymouth, 69 miles west of Torquay
Roads
A390, A391
Rail
St Austell Rail
Air
Exeter International Airport, Newquay Cornwall Airport
Situation
The property is situated in a prominent corner location fronting the roundabout where Trevanion Road (A390) meets Pentewan Road just south of St Austell town centre. The property lies adjacent to Travelodge, KFC, Costa and Bathstore and opposite B&Q which forms part of Pentewan Road Retail Park, St Austell’s premier retail park.
Tenure
Freehold.
Description
The property comprises a modern purpose built 24-hour drive-thru restaurant and benefits from on-site parking for approximately 32 cars.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a modern purpose built 24-hour drive-thru restaurant and benefits from on-site parking for approximately 32 cars.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Restaurant/Ancillary
284.93 sq m
(3,067 sq ft)
MCDONALD’S RESTAURANTS LIMITED (1) (2)
35 years from 25/03/2000 until 24/03/2035 on a full repairing and insuring lease
£78,500
23/03/2015 and five yearly thereafter
Totals
284.93 sq m
(3,067 sq ft)
£78,500
(1) For the year ending 31st December 2012, McDonald’s Restaurants Limited reported a turnover of £1,317,594,000, pre-tax profits of £202,214,000 and a total net worth of £643,048,000. (Source: www.riskdisk.com 21/02/2014). (2)The property has been sub-let to White Rose UK Limited, a McDonald’s franchisee.
Contacts
Seller's Solicitors
Wallace LLP 1 Portland Place London W1B 1PN +44 (0)20 7636 3736
