Pizza Hut, Gloucester

 

Unit 19 Kingsway Local Centre, Thatcham Avenue, Quedgeley, Gloucestershire, GL2 2GT

Offers in excess of
N/A
Acquired
Type - Commercial
Tenant type - Restaurant
  • Tenure: Virtual Freehold
  • Gross Rent: £19,000
  • Lease Term: 20 years from Nov '14
  • VAT applicable?: Y

Property Description

  • Virtual Freehold Takeaway Investment.
  • The property is arranged on a ground floor level only to provide a shop currently trading as Pizza Hut takeaway/delivery.
  • The site extends a total of 1,003 sq ft.

Location Description

  • The city of Gloucester is located approximately 36 miles north of Bristol, 56 miles south-west of Birmingham and 13 miles west of Cheltenham.
  • The city is situated adjacent to the M5 Motorway between Junction 11 and 12.
  • The A40 provides access to Cheltenham, whilst the A417 provides access to Cirencester.
  • The property is located on the Kingsway local Centre in Quedgeley, some 5 miles south of the city centre, 2.5 miles from Junction 12 of the M5 Motorway via the A38.
  • This is a densely populated new build residential area.
  • Nearby occupiers in the Centre include Sue Ryder, Tesco Express, Premier Foodstore, a veterinary clinic and Taylors estate agents, amongst others. IN additin there is Quedgeley Parish Council, The Barn Owl pub and Kingsway Primary School.

Additional Notes

  • The entire property is at present let to CAPITALRANGE LTD (Pizza Hut Franchisee) for a term of 20 years from 28th November 2014 at a current rent of £19,000 p.a.
  • The tenant has an option to break at the tenth year
  • The lease provides rent reviews every fifth year of the term and contains full repairing and insuring covenants.
  • The property is held on a 999 year lease from 28 Feb '17 at a peppercorn rent

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