Let to Kentucky Fried Chicken (Great Britain) Limited t/a KFC until 2030 (no breaks)
Forms part of the Killingworth Shopping Centre
2015 Rent Review outstanding
Nearby occupiers include Morrisons, Matalan, McDonald’s and Wilko
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 14
Auction 30th March 2017
Rent £46,800 per Annum Exclusive
Status Sold
Price £795,000
Sector Restaurant
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of a PLC
Property Information
Location
Miles
5.5 miles north-east of Newcastle City Centre, 7 miles east of Newcastle International Airport
Roads
A19, A1058, A194
Rail
Palmersville Metro
Air
Newcastle International Airport
Situation
Killingworth is a popular commuter town some 5 miles from Newcastle City Centre. The Killingworth Shopping Centre is the principal retailing pitch, strategically located in the centre of town close to the A1056 and the A189. The centre comprises 28 retail units with 1,200 car parking spaces on site. The scheme is anchored by Morrisons and houses occupiers including Matalan, Thomas Cook, Poundworld and Wilkinsons. The property occupies a prominent corner position at the entrance to the site off E Bailey Road, adjacent to McDonald’s.
Tenure
Virtual Freehold. Held for a term of 999 years less three days from 28/01/2015 at a peppercorn rent.
Location
Miles
5.5 miles north-east of Newcastle City Centre, 7 miles east of Newcastle International Airport
Roads
A19, A1058, A194
Rail
Palmersville Metro
Air
Newcastle International Airport
Situation
Killingworth is a popular commuter town some 5 miles from Newcastle City Centre. The Killingworth Shopping Centre is the principal retailing pitch, strategically located in the centre of town close to the A1056 and the A189. The centre comprises 28 retail units with 1,200 car parking spaces on site. The scheme is anchored by Morrisons and houses occupiers including Matalan, Thomas Cook, Poundworld and Wilkinsons. The property occupies a prominent corner position at the entrance to the site off E Bailey Road, adjacent to McDonald’s.
Tenure
Virtual Freehold. Held for a term of 999 years less three days from 28/01/2015 at a peppercorn rent.
Description
The property comprises a modern purpose built, single storey drive-thru restaurant. The property benefits from on-site parking for 2 cars as well as shared rights to use the Killingworth Centre car park.
Please note McDonald’s, The Killingworth Centre is being offered as Lot 4 in this catalogue.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a modern purpose built, single storey drive-thru restaurant. The property benefits from on-site parking for 2 cars as well as shared rights to use the Killingworth Centre car park.
Please note McDonald’s, The Killingworth Centre is being offered as Lot 4 in this catalogue.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
(1) For the year ending 29th November 2015, Kentucky Fried Chicken (Great Britain) Limited reported a turnover of £465,334,000,pre-tax profits of £55,946,000 and a total net worth of £99,149,000 (Source: Experian Group 21/02/2017). KFC employs over 24,000 people and trades from over 870 restaurants throughout the UK and Ireland (Source: www.kfccareers.co.uk 21/02/2017). (2) The tenant has sublet the property to Alderforce North Limited, a franchisee of KFC.
Contacts
Seller's Solicitors
Osborne Clarke Solicitors One London Wall London EC2Y 5EB
