McDonald’s, Leicester

 

1-3 Market Street, Leicester, East Midlands, Leicestershire, LE1 6DN

Offers in excess of
N/A
Acquired
Type - Commercial
Tenant type - Restaurant
  • Tenure: Freehold
  • Gross Rent: £109,000
  • Lease Term: 35 yrs from Mar '91
  • VAT applicable?: Y

Property Description

  • Freehold City Centre Restaurant Investment.
  • The prominent corner property is arranged on basement, ground and 3 upper floors to provide a ground and 1st floor restaurant currently trading as McDonald’s.
  • The 2nd & 3rd floor comprise of ancillary staff, storage and plant accommodation, whilst the basement provides further storage.  Property comprising of a total of 1,023 sq m (11,002 sq ft).
  • Internally refurbished about 6 months ago.

Location Description

  • The city of Leicester is one of East Midland's major commercial centres, located adjacent to the M1 Motorway (junction 21) and its junction with M69 Motorway.
  • The City also benefits from regular rail services to London and the North.
  • The property is well located on the corner of the pedestrianised Market Street, at its junction with Millstone Lane.  De Montfort University, University of Leicester, Leicester Royal Infirmary and Leicester Rail Station are all nearby.
  • There are numerous student accommodation blocks nearby, as well as bars and pubs.  Retail occupiers close by include RBS (adjacent), Nisa, Tesco Express, Fat face, White stuff, Gregg's, Subway, Caffe Nero, Holland & Barrett, Yorkshire Building Society, Santander and Max Speilmann, amongst many others.
  • Property has a large rear service yard accessed via Pocklingtons Walk.

Additional Notes

  • The entire property is let to McDonald's Restaurants Ltd for a term of 35 years from 25th March 1991 and a term of 10 years from 25th March 2026 by way of reversionary lease.
  • Rent review every 5th year (Rent review for 2016 outstanding).
  • Benefits from 24 hour opening hours.
  • The rear service yard and/or the upper floors may have potential for future development/conversion to residential use, subject to obtaining necessary consents.

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