PROPERTIES

Project Ronald

Price£7,100,000

PDF DETAILS

Project Ronald

  • Price£7,100,000
  • Income£228,800 pa
  • Yield3%
  • SectorPortfolio
  • StatusAvailable
PDF DETAILS

Prominent Freehold Roadside Drive–Thru Portfolio Let to McDonald's Restaurants Ltd with an AWULT of c. 19 Year Benefitting from Fixed Uplifts

Summary

  • 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%.