98 Above Bar Street Southampton Hampshire SO14 7DT

98 Above Bar Street
Southampton
Hampshire
SO14 7DT

Freehold Retail Investment

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
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Freehold Retail Investment

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

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)