Let to The Restaurant Group (UK) Ltd for 25 years from 2008 until 2033 (NO BREAKS)
2018 break not exercised (1)
Rent Review October 2018
Excellent access to road communications on established office and leisure park
Nearby occupiers include David Lloyd Health Club, Costa Coffee, Holiday Inn Express, McDonald’s and a number of National HQ office occupiers
Lot 9
Auction 24th May 2018
Rent
Status Sold Post
Price
Sector Restaurant
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
2 miles south of Lichfield, 6 miles north of 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 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, Costa Coffee 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.
Location
Miles
2 miles south of Lichfield, 6 miles north of 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 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, Costa Coffee 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 comprises a modern purpose built, single storey restaurant and bar with kitchen and WCs. The property includes 13 car parking spaces.
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
The property comprises a modern purpose built, single storey restaurant and bar with kitchen and WCs. The property includes 13 car parking spaces.
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
331 sq m
(3,565 sq ft)
THE RESTAURANT GROUP (UK) LIMITED t/a Frankie & Benny’s (2) (3)
25 years from 10/10/2008 until 09/10/2033 on a full repairing and insuring lease (1)
£56,848
10/10/2018 and 5 yearly
Total
331 sq m
(3,565 sq ft)
£56,848
(1) Tenant’s break option 2018 not exercised. (2) For the year ended 1st January 2017, The Restaurant Group (UK) Limited reported a turnover of £524,136,000, pre-tax profits of £59,530,000 and a total net worth of £60,684,000 (Source: Experian Group 25/04/2018). (3) Operate from over 500 restaurants and pubs nationwide (Source: www.trgplc.com).