Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Mortgagees in Possession
Property Information
Location
Miles
11 miles north-east of Stirling, 26 miles south-west of Perth, 36 miles north-east of Glasgow
Roads
A9, M9, M90
Rail
Dunblane
Air
Glasgow Airport
Situation
The property is situated in a prominent position fronting the busy A9 Perth to Stirling dual carriageway, approximately 4 miles north of the M9 Motorway which links Dunblane to Edinburgh. The property benefits from being adjacent to a Shell Petrol Filling Station.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Location
Miles
11 miles north-east of Stirling, 26 miles south-west of Perth, 36 miles north-east of Glasgow
Roads
A9, M9, M90
Rail
Dunblane
Air
Glasgow Airport
Situation
The property is situated in a prominent position fronting the busy A9 Perth to Stirling dual carriageway, approximately 4 miles north of the M9 Motorway which links Dunblane to Edinburgh. The property benefits from being adjacent to a Shell Petrol Filling Station.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Description
The property comprises a ground floor restaurant with approximately 52 covers, customer toilets, kitchen, preparation area and storage and freezer room. Access to the upper floor is via a hatch only and is no longer used by the tenant. Externally there is parking for approximately 40 cars and access is via a shared roadway from the A9 and a slip road.
Note
This property is being marketed for sale on behalf of Mortgagees in Possession and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Mortgagees in Possession to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Mortgagees in Possession are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
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 ground floor restaurant with approximately 52 covers, customer toilets, kitchen, preparation area and storage and freezer room. Access to the upper floor is via a hatch only and is no longer used by the tenant. Externally there is parking for approximately 40 cars and access is via a shared roadway from the A9 and a slip road.
Note
This property is being marketed for sale on behalf of Mortgagees in Possession and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Mortgagees in Possession to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Mortgagees in Possession are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
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.
Review
Ground First
Restaurant
186.36 sq m Not measured
(2,006 sq ft) Not measured
RIVERSIDE RESTAURANTS LTD (in liquidation) (1) (t/a Little Chef) (2)
35 years from 21/03/2006 until 20/06/2041 on a full repairing and insuring lease
£34,791
21/06/2015 and annually by 2.5%
Totals
186.36 sq m
(2,006 sq ft)
£34,791
(1) The seller’s solicitors have a lease between TLLC Restaurants Limited and The People’s Restaurant Group Limited (as guarantor). They understand that TLLC assigned the lease to Riverside Restaurants, who have subsequently granted a licence to occupy to Wolfson Trago, but they have no documentation in connection with this. Wolfson Trago pay the rent to the liquidators of Riverside Restaurants Ltd. (2) Wolfson Trago Limited is a wholly owned subsidiary of Kout Food Group, a Kuwaiti based conglomerate founded in 1982. In 2013, the Group expanded its portfolio in the UK with the acquisitions of Little Chef Group and South West Coffee Ltd. Kout Food Group’s current portfolio of brands in the UK includes Little Chef, Costa Coffee, Burger King, Subway, KFC and Cha Cha Moon and it employs nearly 3,000 people in the UK across over 200 stores. (Source: www.kfgkw-public.sharepoint.com)
