KFC The Killingworth Centre, Killingworth Newcastle upon Tyne NE12 6HA

KFC
The Killingworth Centre, Killingworth
Newcastle upon Tyne
NE12 6HA

Modern Drive Thru Restaurant Investment

Let to Kentucky Fried Chicken (Great Britain) Limited t/a KFC until 2030 (no breaks)
Forms part of the Killingworth Shopping Centre
2015 Rent Review outstanding
Nearby occupiers include Morrisons, Matalan, McDonald’s and Wilko
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
14
Auction
30th March 2017
Rent
£46,800 per Annum Exclusive
Status
Sold
Price
£795,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a PLC

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Modern Drive Thru Restaurant Investment

Let to Kentucky Fried Chicken (Great Britain) Limited t/a KFC until 2030 (no breaks)
Forms part of the Killingworth Shopping Centre
2015 Rent Review outstanding
Nearby occupiers include Morrisons, Matalan, McDonald’s and Wilko
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 14
Auction 30th March 2017
Rent £46,800 per Annum Exclusive
Status Sold
Price £795,000
Sector
Restaurant
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a PLC

Property Information

Location

Miles: 5.5 miles north-east of Newcastle City Centre, 7 miles east of Newcastle International Airport
Roads: A19, A1058, A194
Rail: Palmersville Metro
Air: Newcastle International Airport

Situation

Killingworth is a popular commuter town some 5 miles from Newcastle City Centre. The Killingworth Shopping Centre is the principal retailing pitch, strategically located in the centre of town close to the A1056 and the A189. The centre comprises 28 retail units with 1,200 car parking spaces on site. The scheme is anchored by Morrisons and houses occupiers including Matalan, Thomas Cook, Poundworld and Wilkinsons. The property occupies a prominent corner position at the entrance to the site off E Bailey Road, adjacent to McDonald’s.

Tenure

Virtual Freehold. Held for a term of 999 years less three days from 28/01/2015 at a peppercorn rent.

Location

Miles: 5.5 miles north-east of Newcastle City Centre, 7 miles east of Newcastle International Airport
Roads: A19, A1058, A194
Rail: Palmersville Metro
Air: Newcastle International Airport

Situation

Tenure

Virtual Freehold. Held for a term of 999 years less three days from 28/01/2015 at a peppercorn rent.

Description

The property comprises a modern purpose built, single storey drive-thru restaurant. The property benefits from on-site parking for 2 cars as well as shared rights to use the Killingworth Centre car park.

Please note McDonald’s, The Killingworth Centre is being offered as Lot 4 in this catalogue.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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/ Drive Thru	179.48 sq m	(1,932 sq ft)	KENTUCKY FRIED CHICKEN (GREAT BRITAIN) LIMITED t/a KFC (1)	20 years from 16/04/2010 until 15/04/2030	£46,800	16/04/2015 16/04/2020 16/04/2025
Total		179.48 sq m	(1,932 sq ft)			£46,800

(1) For the year ending 29th November 2015, Kentucky Fried Chicken (Great Britain) Limited reported a turnover of £465,334,000,pre-tax profits of £55,946,000 and a total net worth of £99,149,000 (Source: Experian Group 21/02/2017). KFC employs over 24,000 people and trades from over 870 restaurants throughout the UK and Ireland (Source: www.kfccareers.co.uk 21/02/2017).
(2) The tenant has sublet the property to Alderforce North Limited, a franchisee of KFC.