Costa Coffee Drive Thru
Warwick Old Road
Leamington Spa
Warwickshire
CV31 3NT

Modern Drive-Thru Investment

  • Let to Costa Limited and WY & SF Limited until 2030
  • Prominent location on A425 just 0.4 miles west of Leamington Spa Rail Station
  • Located in attractive, affluent spa town
  • Adjacent to a Morrisons supermarket & petrol station
  • Lot
    7
  • Auction
    18/Oct/2018
  • Rent
    £65,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £1,000,000
  • Sector
    Restaurant
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Morrisons
  • Costa Coffee Drive Thru<br>Warwick Old Road<br>Leamington Spa<br>Warwickshire<br>CV31 3NT
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  • Photos
  • Map

Property Information

Location
Miles
18 miles south-east of Birmingham
Roads
M40, A46, A452, A445, A425
Rail
Leamington Spa Rail
Air
Birmingham International Airport
Situation

Royal Leamington Spa is an attractive and affluent town located in Warwickshire approximately 2 miles east of Warwick, 8 miles south of Coventry and 18 miles south-east of Birmingham. The property occupies a prominent position on Warwick Old Road (A425), one of the main arterial routes into Leamington Spa town centre. A Morrisons supermarket and petrol station is located adjacent to the property, with other nearby occupiers including Dreams, Pets at Home and Bensons for Beds.

Tenure

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

Description

The property comprises a modern purpose built, single storey drive-thru with indoor and outdoor seating areas. The property includes 12 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

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
GroundRestaurant/
Ancillary
157.53 sq m
(1,695 sq ft)
COSTA LIMITED
and WY & SF
LIMITED (1)
15 years from 25/06/2015
until 24/06/2030 (2) on a
full repairing and insuring
lease
£65,00025/06/2020 &
25/06/2025
Total
157.53 sq m
(1,695 sq ft)  £65,000 

(1) For the year ending 2nd March 2017, Costa Limited reported a turnover of £886,366,000, pre-tax profits of £103,387,000 and a total net worth of £616,894,000 (Source: Experian Date 07/08/2018).
(2) The lease contains a tenant option to determine if the Landlord grants rights of occupation of any part of the remaining title of the Landlord (other than the food store) to other named operators within the first eleven years of the term. The 125 year lease to be granted to the buyer on completion will contain an obligation on the seller not to do anything which would enable this option to determine to be exercised.

Property Documents

  • Site Plan
    Updated Date
    26.09.18
    File Size
    721 KB
    View PDF
  • Catalogue Page
    Updated Date
    26.09.18
    File Size
    1 MB
    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
Gwen ThomasGwen Thomas +44 (0)20 7034 4857 +44 (0)7809 363549gwen.thomas@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863georgina.roberts@acuitus.co.uk
Seller's Solicitors
Eversheds Sutherland Bridgewater Place, Water Lane
Leeds
LS11 %DR
Susan Ledger 0113 200 4674susanledger@eversheds-sutherland.com

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