Prominent Freehold Roadside Drive–Thru Portfolio Let to McDonald's Restaurants Ltd with an AWULT of c. 19 Year Benefitting from Fixed Uplifts
- Five prominent freehold roadside drive-thru assets located on busy arterial roads.
- Strategically situated on roundabouts with dual road access creating premium for tenants due to increased traffic numbers.
- Properties have been recently redeveloped and in some
cases extended by the tenant.
- Securely let to McDonald’s Restaurants Ltd with an AWULT of 18.97 years unexpired.
- Highly sought after drive-thru planning consent with 24 hour trading adding significant value to the sites.
- Unique reversionary income with current passing rent of £228,800 per annum.
- Estimated rental value of £610,615 per annum.
- Leases benefit from 2% per annum fixed uplifts reviewed five yearly, with next to take place in 2022.
- Significant uplift in rental value in 2038 upon lease expiry reflecting a ground rent style income.
- We are seeking offers in excess of £7,100,000 after allowance for unadjusted purchaser’s costs of 6.8%,
which reflects a net initial yield of 3% and an ultimate reversionary yield of 8.05%.