Property overview

Please find enclosed details of a prime, modern drive thru investment opportunity we have been instructed to market. The salient details are:

• Newly constructed drive-thru unit
• GIA of 1,800 sq. ft. (167 sq. m.)
• Let to Costa Limited
• 13.75 years to expiry
• Initial income of £70,000 per annum, which equates to a reversionary rent of £38.89 per sq. ft. Prime regional coffee drive thru rents now stand at £50.00 per sq. ft.
• 5 yearly RPI-linked rent reviews collared and capped at 1% – 3%, annually compounded
• Freehold

Offers sought in excess of £1,200,000 subject to contract and exclusive of VAT. The purchase price would equate to a Net Initial Yield of 5.50%, assuming standard purchaser’s costs of 5.96%.