Central York Restaurant Investment let until 2037 (subject to option)
Attractive City Centre Grade II Listed Restaurant
Let to Five Guys JV Limited until 2037 (subject to option)
Five yearly rent reviews to RPI (minimum of 5.0% uplift)
City Centre Location within 1 minute of York Minster, a major tourist attraction
Substantial fit out carried out by tenant
Property recently extended to the rear providing further covers
Neighbouring Occupiers include Cote, Jo Malone, L'Occitane
Lot 16
Auction 30th March 2023
Rent £148,680 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Restaurant
Auction Venue Live Streamed Auction
Property Information
Location
Miles
19 miles east of Harrogate, 24 miles north-east of Leeds, 55 miles north-east of Manchester
Roads
A19, A59, A64, A1237, A1(M)
Rail
York Railway Station (1 hour 55 minutes to London Kings Cross)
Air
Leeds Bradford International Airport
Situation
York is an attractive and historic Cathedral City in North Yorkshire. York is a highly popular city attracting tourists from around the world with its famous 11th Century Minster and an eclectic mix of restaurants and medieval architecture. The property is prominently situated in the heart of York City centre on the south side of the historic Low Petergate, close to its junction with Minster Gates, the pedestrianised access point to York Minster. Neighbouring occupiers include Cote, Jo Malone, L'Occitane, several boutique hotels and local restaurants.
Tenure
Freehold.
Location
Miles
19 miles east of Harrogate, 24 miles north-east of Leeds, 55 miles north-east of Manchester
Roads
A19, A59, A64, A1237, A1(M)
Rail
York Railway Station (1 hour 55 minutes to London Kings Cross)
Air
Leeds Bradford International Airport
Situation
York is an attractive and historic Cathedral City in North Yorkshire. York is a highly popular city attracting tourists from around the world with its famous 11th Century Minster and an eclectic mix of restaurants and medieval architecture. The property is prominently situated in the heart of York City centre on the south side of the historic Low Petergate, close to its junction with Minster Gates, the pedestrianised access point to York Minster. Neighbouring occupiers include Cote, Jo Malone, L'Occitane, several boutique hotels and local restaurants.
Tenure
Freehold.
Description
The property forms part of an attractive and historic terrace of buildings, lying within the York Central Historic Core Conservation Area. Grade II Listed, it provides ground, basement, first, second and third floor accommodation. The property benefits from a glazed atrium extension to the rear which opens out on to a private rear courtyard. The tenant carried out extensive fit out works prior to occupying the property.
VAT
VAT is applicable to this lot.
Description
The property forms part of an attractive and historic terrace of buildings, lying within the York Central Historic Core Conservation Area. Grade II Listed, it provides ground, basement, first, second and third floor accommodation. The property benefits from a glazed atrium extension to the rear which opens out on to a private rear courtyard. The tenant carried out extensive fit out works prior to occupying the property.
(1) For the year ending 31/12/2021 Five Guys JV Limited reported a Turnover of £237,298,000 and a Pre-Tax Profit of £33,588,000 (NorthRow 22/02/2023). Five Guys is an American fast food restaurant chain founded in 1986 and now operating from 160 locations in the UK and over 1,700 worldwide (www.restaurant.fiveguys.co.uk). (2) The lease provides for a tenant option to determine the lease on 01/03/2032 upon giving 6 months' notice. (3) The lease provides for 5 yearly RPI-linked rent reviews subject to a minimum of 5% increase at every 5 yearly review.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
