KFC Drive Thru Neats Court Retail Park, Thomsett Way Queenborough Kent ME11 5AR

KFC Drive Thru
Neats Court Retail Park, Thomsett Way
Queenborough
Kent
ME11 5AR

Modern Drive-Thru Investment

Let to Scotco Restaurants Limited (t/a KFC) on a 20 year lease until August 2033 (subject to option)
Forms part of the newly developed Neats Court Retail Park
Prominent location adjacent to the A249 trunk road
Nearby occupiers include Morrisons, Iceland and Poundland
On-site parking for approximately 35 cars
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
5
Auction
21st May 2015
Rent
£66,750 per Annum Exclusive
Status
Sold
Price
£895,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Morrisons

Interested?

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Modern Drive-Thru Investment

Let to Scotco Restaurants Limited (t/a KFC) on a 20 year lease until August 2033 (subject to option)
Forms part of the newly developed Neats Court Retail Park
Prominent location adjacent to the A249 trunk road
Nearby occupiers include Morrisons, Iceland and Poundland
On-site parking for approximately 35 cars
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 5
Auction 21st May 2015
Rent £66,750 per Annum Exclusive
Status Sold
Price £895,000
Sector
Restaurant
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Morrisons

Property Information

Location

Miles: 16 miles north-east of Maidstone, 25 miles north-west of Canterbury, 50 miles east of Central London
Roads: A249, A250, M2 (Junction 5), M20 (Junction 7)
Rail: Queenborough Railway Station
Air: Gatwick Airport, Heathrow Airport

Situation

The property is situated in a prominent position on the newly developed Neats Court Retail Park on the northern side of Thomsett Way adjacent to the A249 trunk road. The A249 is the main road through the Isle of Sheppey linking it with London via the M2 (Jct 5) and M20 (Jct 7). Nearby occupiers include Morrisons, Iceland and Poundland.

Tenure

Long Leasehold. Held for a term of 125 years from completion at a peppercorn rent.

Location

Miles: 16 miles north-east of Maidstone, 25 miles north-west of Canterbury, 50 miles east of Central London
Roads: A249, A250, M2 (Junction 5), M20 (Junction 7)
Rail: Queenborough Railway Station
Air: Gatwick Airport, Heathrow Airport

Situation

Tenure

Long Leasehold. Held for a term of 125 years from completion at a peppercorn rent.

Description

The property comprises a modern purpose built drive-thru restaurant with parking for approximately 35 cars. There is an electricity substation on site.

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 available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Reviews
Ground	Restaurant/Ancillary	246.46 sq m	(2,653 sq ft)	SCOTCO RESTAURANTS LIMITED (t/a KFC) (1)	20 years from 02/08/2013 until 01/08/2033 on a full repairing and insuring lease (2)	£66,750	02/08/2018 and five yearly
Totals		246.46 sq m	(2,653 sq ft)			£66,750

(1) For the year ending 1st December 2013, Scotco Restaurants Limited reported a turnover of £30,187,357, pre-tax profits of £2,365,116 and a total net worth of £6,212,365. (Source: www.riskdisk.com 21/04/2015)
(2)The lease provides an option to determine on 2nd August 2028.