Tenants include McDonald’s Property Company Limited (t/a McDonald’s) and The Restaurant Group (UK) Limited (t/a Chiquito)
Prominent Position on A4123 at junction with A456
Approximate site area of 0.754 hectares (1.86 acres)
Large on-site car park
Six Week Completion
Lot 42
Auction 17th October 2013
Rent £99,140 per Annum Exclusive
Status Sold
Price £1,005,000
Sector Restaurant
Auction Venue The Millennium Hotel 44 Grosvenor Square Mayfair London W1K 2HP
On the Instructions of Joint LPA Receivers, Zolfo Cooper
Property Information
Location
Miles
4 miles west of Birmingham City Centre
Roads
A4123, A456, M5 (Junction 3)
Rail
Birmingham New Street Station
Air
Birmingham International Airport
Situation
The property is situated in a prominent position on the eastern side of Wolverhampton Road (A4123) at its junction with Hagley Road West (A456), one of the main arterial routes into Birmingham. Nearby occupiers include Birmingham Best Inn Hotel, Chamberlains Fish & Chips, The Amber Tavern and a number of independent retailers.
Tenure
Freehold.
Location
Miles
4 miles west of Birmingham City Centre
Roads
A4123, A456, M5 (Junction 3)
Rail
Birmingham New Street Station
Air
Birmingham International Airport
Situation
The property is situated in a prominent position on the eastern side of Wolverhampton Road (A4123) at its junction with Hagley Road West (A456), one of the main arterial routes into Birmingham. Nearby occupiers include Birmingham Best Inn Hotel, Chamberlains Fish & Chips, The Amber Tavern and a number of independent retailers.
Tenure
Freehold.
Description
The property comprises two buildings on a site of approximately 0.754 hectares (1.86 acres). Unit 1 comprises a purpose built restaurant with kitchen and ancillary to the rear and Unit 2 comprises a purpose built modern restaurant and drive thru unit. Both properties benefit from rights to park which are shared with adjoining properties.
Note: This property is being marketed for sale on behalf of CP Holder, KJ Coates and AC O’Keefe as 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 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 two buildings on a site of approximately 0.754 hectares (1.86 acres). Unit 1 comprises a purpose built restaurant with kitchen and ancillary to the rear and Unit 2 comprises a purpose built modern restaurant and drive thru unit. Both properties benefit from rights to park which are shared with adjoining properties.
Note: This property is being marketed for sale on behalf of CP Holder, KJ Coates and AC O’Keefe as 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 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
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
1
Ground
Restaurant
518.77 sq m
(5,584 sq ft)
THE RESTAURANT GROUP (UK) LIMITED (2) (t/a Chiquito) guaranteed by City Centre Restaurants plc
25 years from 03/06/1996 until 02/06/2021
£99,140
03/06/2016
2
Ground
Restaurant
217.80 sq m (3)
(2,486 sq ft) (3)
MCDONALDS PROPERTY COMPANY LIMITED (t/a McDonalds) (1)
99 years from 25/12/1995
Peppercorn
(24/12/2094)
Totals
736.57 sq m
(8,070 sq ft)
£99,140
(1) McDonald’s is the world’s largest restaurant chain with more than 34,000 restaurants worldwide and employing 1.8 million people. (Source: www.mcdonalds.co.uk 16/09/2013) (2) For the year ending 1st January 2012, The Restaurant Group (UK) Limited reported a turnover of £376,438,000, pre-tax profits of £48,796,000 and a total net worth of £61,193,000. (Source: www.riskdisk.com 16/09/2013) (3) The floor areas stated for unit 2 have been provided by the VOA (www.voa.gov.uk)
Contacts
Seller's Solicitors
DLA Piper Princes Exchange, Princes Square Leeds LS1 4BY
