Little Chef Newmarket Heath, A14 Dual carriageway (Eastbound) Newmarket Suffolk CB8 0XG

  • Little Chef<br>Newmarket Heath, A14 Dual carriageway (Eastbound)<br>Newmarket<br>Suffolk<br>CB8 0XG

Little Chef
Newmarket Heath, A14 Dual carriageway (Eastbound)
Newmarket
Suffolk
CB8 0XG

Roadside Restaurant Investment

  • Let to Wolfson Trago Limited (t/a Little Chef) until 2037 (no breaks)
  • Guaranteed by KFG Quickserve Limited - a part of Kout Food Group
  • 5 yearly RPI linked rental increases (collared at 3% per annum and capped at 7.5% per annum)
  • Highly strategic location serving both A14 & A11 trunk roads
  • Adjacent to a BP petrol filling station
  • Potential for alternative
  • Rent £95,405 per annum exclusive with minimum 3% per annum compounded rental increases. Next Rent Review November 2017
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    14
  • Auction
    19th May 2016
  • Rent
    Gross: £95,405 per Annum Exclusive
  • Status
    Sold
  • Price
    £925,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Roadside Restaurant Investment

  • Let to Wolfson Trago Limited (t/a Little Chef) until 2037 (no breaks)
  • Guaranteed by KFG Quickserve Limited - a part of Kout Food Group
  • 5 yearly RPI linked rental increases (collared at 3% per annum and capped at 7.5% per annum)
  • Highly strategic location serving both A14 & A11 trunk roads
  • Adjacent to a BP petrol filling station
  • Potential for alternative
  • Rent £95,405 per annum exclusive with minimum 3% per annum compounded rental increases. Next Rent Review November 2017
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 14
  • Auction 19th May 2016
  • Rent Gross: £95,405 per Annum Exclusive
  • Status Sold
  • Price £925,000
  • Sector
    Restaurant
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
5 miles east of Cambridge, 15 miles west of Bury St Edmunds
Roads
A10, A11, A14, M11
Air
London Stansted Airport
Situation

The property is situated in a prominent position fronting the eastbound side of the busy A14 trunk road, between Junctions 36 & 37 along the Newmarket Bypass section of the road. The property benefits from being immediately adjacent to a BP petrol filling station.

Tenure

Leasehold. From The Jockey Club Estates Limited for a term of 99 years from 19th September 1983 until 18th September 2082 at a fixed ground rent of £2.50 per annum.

Location
Miles
5 miles east of Cambridge, 15 miles west of Bury St Edmunds
Roads
A10, A11, A14, M11
Air
London Stansted Airport
Situation

The property is situated in a prominent position fronting the eastbound side of the busy A14 trunk road, between Junctions 36 & 37 along the Newmarket Bypass section of the road. The property benefits from being immediately adjacent to a BP petrol filling station.

Tenure

Leasehold. From The Jockey Club Estates Limited for a term of 99 years from 19th September 1983 until 18th September 2082 at a fixed ground rent of £2.50 per annum.

Description

The property comprises a ground floor restaurant with ancillary accommodation to the rear, along with ancillary and office accommodation on the first floor. In addition, the property benefits from on-site parking for 20 cars (with additional parking for about 38 cars let to the tenant, but outside the demise being offered). The property has an approximate site area of 0.19 hectares (0.47 acres).

Six Week Completion

This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting
in respect of this sale without personal liability.

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 ancillary accommodation to the rear, along with ancillary and office accommodation on the first floor. In addition, the property benefits from on-site parking for 20 cars (with additional parking for about 38 cars let to the tenant, but outside the demise being offered). The property has an approximate site area of 0.19 hectares (0.47 acres).

Six Week Completion

This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting
in respect of this sale without personal liability.

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

First		 Restaurant
Ancillary
Ancillary
143.90 sq m
165.10 sq m
41.60 sq m
(1,549 sq ft)
(1,777 sq ft)
(448 sq ft)
 WOLFSON TRAGO
LIMITED (1)
(GUARANTEED BY KFG
QUICKSERVE LIMITED)
(2) (t/a Little Chef)		 35 years (less 3 days)
from 22/11/2002 until
18/11/2037		 £95,405
(rising to a
minimum of
£110,600 in
2017)		 2017 and 5 yearly
thereafter (linked to
RPI capped and
collared between 3%
and 7.5% per annum)
Total Commercial Area  
350.60 sq m
(3,774 sq ft)
     £95,405

1) For the year ending 31st December 2014, Wolfson Trago Limited reported a turnover of £29,436,000, pre-tax profits of £-121,000 and a total net worth of £322,000. (Source: Experian Group 18/04/2016).
(2) KFG Quickserve Limited, the guarantor, for the year ending 31st December 2014 reported a turnover of £35,093,000, pre-tax profits of £1,152,000 and a total net worth of £3,637,000. KFG Quickserve Limited is a subsidiary company of Kout Food Group, a Kuwaiti based company that operates over 200 restaurants in the UK, employing almost 3,000 people, including a number of Burger King, KFC, Subway, Costa Coffee and Little Chef franchises, as well as owning Maison Blanc (Source: www.maisonblanc.co.uk 18/04/2016). In 2013, The Kout Food Group acquired the Little Chef Group, which included 71 Little Chef sites across the UK. (Source: www.koutfood.com 18/04/2016).

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
DWF LLP Bridgwater Place
Leeds
LS11 5DY
Edell Asquez 0113 261 6066edell.asquez@dwf.law

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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