Tenancy & Accommodation
| Floor |
Use |
Floor Areas
Approx. sq. m. (GIA) |
Floor Areas
Approx. (sq. ft.) (GIA) |
Tenant |
Term |
Rent p.a.x. |
Rent Review |
Ground
First |
Retail
Ancillary |
282.05 |
(3,036) |
SCOTCO RESTAURANTS LTD
t/a KFC
(1) (2) |
A term of years from 29/09/2000 until 28/09/2035
(4)(5) |
£85,000 |
29/09/2025
29/09/2030
(3) |
| Total |
|
282.05 |
(3,036)
(3) |
|
|
£85,000 |
|
(1) Scotco Restaurants Ltd is a nationwide KFC Franchisee being established in 1995 and is wholly owned by EG Group Ltd. For the year ending 31/12/2022 Scotco Restaurants Ltd reported a Turnover of £161,549,258, a Pre-Tax Profit of negative £3,747,634 and a Net Worth £19,023,092 (NorthRow 26/02/2024). KFC is an international fast food restaurant chain with over 24,000 locations globally and over 1,000 in the UK (www.kfc.com).
(2) The tenant, Scotco Restaurants Ltd, is currently seeking to assign their lease to Clokken Ltd (CRN 15217100) with a guarantee from Kentucky Fried Chicken (Great Britain) Ltd (CRN 00967403). It is anticipated the lease will be assigned prior to completion of the sale, further details are available within the solicitors legal pack. For the year ending 25/12/2022 Kentucky Fried Chicken (Great Britain) Ltd (CRN 00967403) reported a Turnover of £284,274,000, a Pre-Tax Profit of £89,927,000 and a Net Worth of £330,478,000 (North Row 27/02/2024).
(3) For the purposes of the rent review the floor areas are assumed to be 2,550 sq ft. Please see the lease for further information.
(4) The lease runs for a term until 28/09/2035 by virtue of a reversionary lease from 29/09/2025 for a term of 10 years.
(5) The lease provides for a rent free period until 28/09/2024, the Seller will pay to the buyer the rent that would have been due from completion of the sale until the end of the rent free period.
