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Status Withdrawn Post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
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).
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
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.
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.
