Let to McDonald’s Restaurants Limited until 2025 (no breaks)
Busy retail park location
Prominent corner position on Arterial Road (A127) at its junction with Bryant Avenue
Nearby occupiers include Tesco, Harveys, DFS, Halfords, Argos, Toyota and Honda
On-site car parking for approximately 25 cars
Six Week Completion
Lot 6
Auction 17th October 2013
Rent £82,500 per Annum Exclusive
Status Sold
Price £1,635,000
Sector Restaurant
Auction Venue The Millennium Hotel 44 Grosvenor Square Mayfair London W1K 2HP
On behalf of Kevin Mersh and Matthew Nagle acting as Joint LPA Receivers at Savills
Property Information
Location
Miles
17 miles north-east of the City of London, 2 miles north-east of Romford, 4.5 miles south-west of Brentwood
Roads
Arterial Road (A127), A12, M25 (Junction 26)
Rail
Gidea Park Rail Station (approximately 30 minutes to London Liverpool Street)
Air
London City Airport, London Stansted, London Southend, London Gatwick
Situation
The property is located on the busy Gallows Corner Retail Park fronting the A127 Southend Arterial Road and Bryant Avenue. The busy Gallows Corner Roundabout is some 300 metres west and is the major A12 and A127 junction.
Neighbouring occupiers include a 24-hour Tesco Extra, Harveys, DFS, Halfords,
Argos, B&Q, Toyota, BMW and Honda.
Tenure
Freehold.
Location
Miles
17 miles north-east of the City of London, 2 miles north-east of Romford, 4.5 miles south-west of Brentwood
Roads
Arterial Road (A127), A12, M25 (Junction 26)
Rail
Gidea Park Rail Station (approximately 30 minutes to London Liverpool Street)
Air
London City Airport, London Stansted, London Southend, London Gatwick
Situation
The property is located on the busy Gallows Corner Retail Park fronting the A127 Southend Arterial Road and Bryant Avenue. The busy Gallows Corner Roundabout is some 300 metres west and is the major A12 and A127 junction.
Neighbouring occupiers include a 24-hour Tesco Extra, Harveys, DFS, Halfords,
Argos, B&Q, Toyota, BMW and Honda.
Tenure
Freehold.
Description
The property comprises a modern purpose built drive-thru restaurant with substantial car parking and benefits from access from both the A127 and Bryant Avenue. McDonald’s operate a 24-hour service from the property.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale as agents and without personal liability.
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 modern purpose built drive-thru restaurant with substantial car parking and benefits from access from both the A127 and Bryant Avenue. McDonald’s operate a 24-hour service from the property.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale as agents and without personal liability.
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
Restaurant/ Ancillary
217.76 sq m
(2,344 sq ft)
MCDONALD’S RESTAURANTS LIMITED (1)
25 years from 29/09/2000 until 2025 on a full repairing and insuring lease
£82,500
29/09/2015 and 2020
Totals
217.76 sq m
(2,344 sq ft)
£82,500
(1) For the year ending 3rd December 2011, McDonald’s Restaurants Limited reported a turnover of £1,248,549,000, pre-tax profits of £176,563,000 and a total net worth of £461,298,000. (Source: www.riskdisk.com 16/09/2013)
