Entirely let to Caspian Food Services Limited, guaranteed by Caspian UK Holdings Limited (t/a Burger King), until 2023
Prominent position on main retailing thoroughfare
Directly opposite Marlands Shopping Centre
Nearby occupiers include Lloyds TSB, Starbucks, Greggs, Ann Summers and
Dollond and Aitchison
Lot 19
Auction 6th December 2012
Rent £110,000 per Annum Exclusive
Status Sold
Price £1,050,000
Sector Restaurant
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
19 miles north-west of Portsmouth, 75 miles south-west of London Roads: A33, M3, M27
Rail
Southampton Central Station
Air
Southampton International Airport
Situation
The property is situated in a prominent location on the eastern side of Above Bar Street, Southampton’s prime retailing thoroughfare. Marlands Shopping Centre, which houses retailers such as Matalan, Disney and Poundland, is located directly opposite the property with West Quay Shopping Centre a short distance away. Other nearby occupiers include Lloyds TSB, Starbucks, Greggs, Ann Summers and Dollond and Aitchison.
Tenure
Freehold.
Location
Miles
19 miles north-west of Portsmouth, 75 miles south-west of London Roads: A33, M3, M27
Rail
Southampton Central Station
Air
Southampton International Airport
Situation
The property is situated in a prominent location on the eastern side of Above Bar Street, Southampton’s prime retailing thoroughfare. Marlands Shopping Centre, which houses retailers such as Matalan, Disney and Poundland, is located directly opposite the property with West Quay Shopping Centre a short distance away. Other nearby occupiers include Lloyds TSB, Starbucks, Greggs, Ann Summers and Dollond and Aitchison.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with office and storage accommodation over first and second floors.
NB. The partners of Reid Rose Gregory disclose an interest in the property.
VAT
VAT is not 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 retail unit with office and storage accommodation over first and second floors.
NB. The partners of Reid Rose Gregory disclose an interest in the property.
VAT
VAT is not 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 Ground First Second
Retail Storage Office/Storage Office/Storage
378.48 sq m 27.87 sq m 91.14 sq m 16.26 sq m
(4,074 sq ft) (300 sq ft) (981 sq ft) (175 sq ft)
CASPIAN FOOD SERVICES LTD (1) guaranteed by Caspian UK Holdings Limited (t/a Burger King) (2)
25 years from 24/06/1998 until 23/06/2023 on a full repairing and insuring lease
£110,000
24/06/2013 and five yearly thereafter
Totals
513.75 sq m
(5,530 sq ft)
£110,000
(1) Caspian Food Services Ltd are the largest Burger King franchisers in the UK, trading from over 55 restaurants. (www.flame-grilled.co.uk) For the year ending 1st January 2012, Caspian Food Services Limited reported a turnover of £32,345,000, pre-tax profits of £472,000 and a total net worth of £9,933,000. (Source: www.riskdisk.com 08/11/2012)
Contacts
Associate Auctioneers
Reid Rose Gregory 1 Woodstock Street Mayfair London W1C 2AJ
