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
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.
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
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.
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.
