34 Parade, Leamington Spa, Warwickshire, CV32 4DN
A Restaurant Investment in Leamington Spa
Guide price*
£1,600,000
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Auction details:
Thursday 21st July 2022 @ 09:30AM
A Freehold Prime Restaurant Investment Current Gross Income: £90,500 pa.
Property Description
The property comprises a prominent mid parade retail property trading as McDonald’s under their usual corporate fit out. There is access to the rear for deliveries via the service yard.Location
Royal Leamington Spa is a prosperous town in south Warwickshire, very well located being approximately 18 miles south east of Central Birmingham and 30 minutes from Birmingham International Airport. The town is in close proximity to the M40 (Junctions 13-15), providing rapid access to the Midlands Motorway Network. Leamington Spa additionally benefits from a high speed Chiltern Mainline Rail Services to Birmingham and London Marylebone.Birmingham International Airport is situated 19 miles north west of the town centre and provides national and international flights to over 150 destinations. The airport is accessible via the A452/A45 with a journey time of approximately 45 minutes or via a direct train service in 23 minutes.
The property occupies a prime position along The Parade in the centre of Leamington Spa Town Centre, and nearby occupiers include Tesco, WH Smith, Boots and House of Fraser.
Energy Performance Rating
See legal pack.Tenure
Freehold – Subject to the existing tenancy.Tenancy Details
The property is let in its entirety to McDonald’s Real Estate LLP on a 15 year lease from 24/06/2017 and expiring on 23/06/2032 at a passing rent of £90,500. There are no break clauses and a rent review on 24/06/2022, to open market value or a minimum of £80,000 pa.Value Added Tax
We understand that VAT is payable on this transaction.Auctioneer's Note
McDonald's is the worlds largest restuarant chain, serving over 69 million customers daily in over 100 countries. They are the second-largest private employer in the world and have the ninth highest global brand valuation, only just behind companies such as Apple and Amazon. McDonald's is one of the most recognised and respected brands in the world. Within the UK, McDonald's has more than 1,270 restaurants and employs more than 120,000 people.Viewings
Strictly by appointment with the Auctioneers.Accommodation
| Sq.m. | Sq.Ft. | |
|---|---|---|
| Total Area: | 920.96 | 4,819 |
DISCLAIMER
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
LIVE-STREAMED AUCTION
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.
*DEFINITION OF GUIDE & RESERVE PRICE
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.
COSTS AT AUCTION
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The sale of each lot is subject to an administration fee of £2,160 inc VAT (£1,800.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction. Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.
Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
