Nando's 300/302 Station Road Harrow Middlesex HA1 2DX

Nando's
300/302 Station Road
Harrow
Middlesex
HA1 2DX

Freehold Restaurant Investment

Entirely let to Nando's on two individual leases until 2028 and 2079
Prime position in town centre location
Busy trading pitch fronting Station Road
Nearby occupiers include Debenhams, Superdrug, Burger King and Lloyds TSB

Lot
8
Auction
8th July 2010
Rent
£70,530 per Annum
Status
Sold
Price
£1,100,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

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Freehold Restaurant Investment

Entirely let to Nando's on two individual leases until 2028 and 2079
Prime position in town centre location
Busy trading pitch fronting Station Road
Nearby occupiers include Debenhams, Superdrug, Burger King and Lloyds TSB

Lot 8
Auction 8th July 2010
Rent £70,530 per Annum
Status Sold
Price £1,100,000
Sector
Leisure
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

Property Information

Location

Miles: 8 miles south-east of Watford; 15 miles north-east of Slough; 16 miles north-west of Central London
Roads: A40 (Western Avenue), M1, M40, M25
Rail: Harrow-on-the-Hill Mainline Railway Station and Underground (Metropolitan Line)
Air: Heathrow Airport

Situation

The property is prominently situated on the eastern side of Station Road, near to its junction with the pedestrianised retail thoroughfare, St Ann's Road. Nearby occupiers include Debenhams, Superdrug, Burton Menswear and Lloyds TSB.

Tenure

Freehold.

Location

Miles: 8 miles south-east of Watford; 15 miles north-east of Slough; 16 miles north-west of Central London
Roads: A40 (Western Avenue), M1, M40, M25
Rail: Harrow-on-the-Hill Mainline Railway Station and Underground (Metropolitan Line)
Air: Heathrow Airport

Situation

Tenure

Freehold.

Description

The property comprises a GROUND AND FIRST FLOOR RESTAURANT UNIT with OFFICE AND STORAGE ACCOMMODATION on the second floor. NB Please note, road improvement works are currently underway on Station Road and are due for completion in October 2010.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

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 Second	Restaurant Office/Storage	162.28 sq m (1,747 sq ft) 38.08 sq m (410 sq ft)	NANDO'S CHICKENLAND LIMITED (1)	25 years from 22/12/2003 until 21/12/2028	£70,500	22/12/2013 and 5 yearly thereafter
First	Restaurant	99.78 sq m (1,074 sq ft)	NANDO'S CHICKENLAND LIMITED (1)	99 years from 10/03/1980 until 09/03/2079	£30	(2)
Totals		300.14 sq m (3,231 sq ft)			£70,530

(1)For the year ending 22nd February 2009, Nando's Chickenland Limited reported a turnover of 230,857,000, pre-tax profits of 7,818,000 and a total net worth of 25,303,000. (Source: www.riskdisk.com 07/06/2010) (2)Please note, under the terms of the lease the rent is 30 p.a.x. during the first 33 years of the term, increasing to 50 p.a.x. during the next 33 years of the term and then increasing to 70 p.a.x. thereafter.