8 South Muirhead Road Cumbernauld North Lanarkshire G67 1AX

8 South Muirhead Road
Cumbernauld
North Lanarkshire
G67 1AX

Heritable Restaurant Investment

Entirely let to Pizza Hut (UK) Limited on a 25 Year Lease until 19/10/2028
Prominent roadside position in established leisure area
Nearby occupiers include KFC, Burger King, Asda supermarket, Premier Inn, McDonalds, Domino’s Pizza and Beefeater
On site shared car parking for approximately 61 cars
Six Week Completion

Lot
16
Auction
27th March 2014
Rent
£72,500 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Heritable Restaurant Investment

Entirely let to Pizza Hut (UK) Limited on a 25 Year Lease until 19/10/2028
Prominent roadside position in established leisure area
Nearby occupiers include KFC, Burger King, Asda supermarket, Premier Inn, McDonalds, Domino’s Pizza and Beefeater
On site shared car parking for approximately 61 cars
Six Week Completion

Lot 16
Auction 27th March 2014
Rent £72,500 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Leisure
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 13 miles north-east of Glasgow; 14 miles south of Stirling; 39 miles west of Edinburgh
Roads: M80, M73
Rail: Cumbernauld Station (Scotrail)
Air: Glasgow International Airport

Situation

The property is situated in a prominent roadside location within the established South Muirhead Road leisure area. The property is accessed from the A8001 Central Way which connects with the M80 linking Cumbernauld with Glasgow.

Tenure

Heritable. (Scottish Equivalent of Freehold).

Location

Miles: 13 miles north-east of Glasgow; 14 miles south of Stirling; 39 miles west of Edinburgh
Roads: M80, M73
Rail: Cumbernauld Station (Scotrail)
Air: Glasgow International Airport

Situation

Tenure

Heritable. (Scottish Equivalent of Freehold).

Description

The property comprises a modern single storey restaurant which has been purpose built and fitted out in Pizza Hut’s corporate style. The property also benefits from approximately 61 on site car parking spaces shared with the neighbouring KFC restaurant, Kashmir Cottage and 1a Wok.

VAT

VAT is applicable to this lot.

Viewings

Interested parties must register their details with the Auctioneers and provide identification on site.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Viewings

Interested parties must register their details with the Auctioneers and provide identification on site.

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	297.95 sq m	(3,205 sq ft)	PIZZA HUT (UK) LIMITED (1)	25 years from 20/10/2003 until 19/10/2028 on a full repairing and insuring lease	£72,500	20/10/2018 and 5 yearly thereafter (2)
Totals		297.95 sq m	(3,205 sq ft)			£72,500

(1) For the year ending 02/12/2011, Pizza Hut (UK) Limited reported a turnover of £268,692,000, pre-tax profits of £1,329,000 and a total net worth of £54,786,000. (Source: www.riskdisk.com 22/01/2014)
(2)There is an outstanding rent review dated 30.10.2013.