Costa Drive Thru
Lichfield South Birmingham Road
Lichfield
Staffordshire
WS14 0QP

Freehold Purpose Built Drive-Thru Investment Constructed in 2016

  • Let to Costa Limited for 15 years from 2016 until 2031 (NO BREAKS)
  • Rent Reviews based on CPI with minimum uplifts in 2021 to £60,958.58 and in 2026 to £64,068.08 (2)
  • Excellent access to road communications
  • Established office and leisure park
  • Nearby occupiers include David Lloyd Health Club, Holiday Inn Express, Frankie & Benny's, McDonald’s and a number of National HQ office occupiers
  • Lot
    7
  • Auction
    07/Dec/2017
  • Rent
    £58,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £1,150,000
  • Sector
    Leisure
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Property Update
  • Costa Drive Thru<br>Lichfield South Birmingham Road<br>Lichfield<br>Staffordshire<br>WS14 0QP
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Property Information

Location
Miles
2 miles south of Lichfield, 6 miles Sutton Coldfield, 8 miles north-east of Tamworth, 13 miles north of Birmingham
Roads
A5, A38, M6 Toll Road
Rail
Lichfield City and Lichfield Trent Valley Railway Stations
Air
Birmingham International Airport
Situation

The property is situated on the well established Lichfield South Business Park, comprising 23 acres, which lies approximately 2 miles south of Lichfield City Centre on the main road to Birmingham. Lichfield South Business Park is well located for the A5 and Junction T5 of the M6 Toll Road. Adjacent occupiers include Holiday Inn Express, David Lloyd Health Club, Frankie and Benny's and McDonald’s, together with National HQ office occupiers, Voyage Care, Dimension Data and Ascom. The property benefits from the adjacent shared 142 car parking spaces.
Please see - www.lichfield-south.co.uk

Tenure

Freehold.

Description

The property, built in 2016, comprises a modern purpose built, single storey drive-thru with indoor and outdoor seating areas. The property includes 13 car parking spaces.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

Buyer's Legal Report

For the ease and convenience of prospective buyers,to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is advisable. For more information, please click here.

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews/(Reversion)
GroundDrive-Thru
167 sq m
(1,800 sq ft)
COSTA LIMITED
(1)
15 years from 30/09/2016
on a full repairing and
insuring lease
£58,0002021 & 2026
(2)
(29/09/2031)
Totals
167 sq m
(1,800 sq ft)
  £58,000 

(1) Costa Limited has 1,500 stores in the UK and is part of Whitbread Plc (Source: www.costa.co.uk). For the year ending 3rd March 2016, Costa Limited reported a turnover of £835,037,000, pre-tax profits of £117,498,000 and a total net worth of £542,180,000 (Source: Experian Group 3/11/2017).
(2) The Rent Review provisions are based on the Consumer Price Index growth with a minimum of 1% per annum and a maximum of 3% per annum, this allows for minimum increases in 2021 to £60,958.58 p.a and (subject to the 2021 rent review) a minimum increase in 2026 to £64,068.08 p.a.

Property Documents

  • Catalogue Page
    Updated Date
    15.11.17
    File Size
    841 KB
    View PDF
  • Site Plan
    Updated Date
    15.11.17
    File Size
    871 KB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Will MooreWill Moore +44 (0)20 7034 4858 +44 (0)7899 877 224will.moore@acuitus.co.uk
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Shoosmiths LLP 2 Colmore Square, 38 Queensway
Birmingham
B4 6BJ
Alex Jones 03700 864 039alex.jones@shoosmiths.co.uk

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