Starbucks Drive-Thru Liphook By-Pass, Hampshire, Hampshire, GU30 7TT, UK

Starbucks Drive Thru, Liphook

Attributes

Building area net

2,799 sf

Occupancy

100%

Asking price

$1,706,000

WAULT

12.8 years

Asset description

The property comprises an existing single storey Starbucks coffee shop that has recently been converted into a drive-thru store and undergone extensive refurbishment works and new fit out internally.

The building totals circa 2,799 sq ft and can comfortably seat 120 customers including external areas.

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Investment highlights

Prominently situated on the A3 Northbound, the main arterial route connecting the south coast to London
Established service station with Shell Garage & McDonalds
The first franchised Starbucks store in the UK
Freehold
2,799 sq ft Starbucks Coffee drive-thru
Recently converted and fully refurbished
Let to Starbucks Coffee Company
Lease for a term of 15 years from 16 September 2022, expiring 15th September 2037
Rent of £75,000 per annum reflecting £26.80 per sq ft
Five yearly upwards only CPI linked rent reviews with a cap and collar of 1% - 3% per annum compounded

We are instructed to seek offers in excess of £1,286,000 (One Million, Two Hundred and Eight Six Thousand Pounds) subject to contract and exclusive of VAT.

A purchase at this level reflects a net initial yield of 5.50%, and a potential Reversionary Yield of 6.38% (3% per annum compounded) assuming standard purchaser's costs of 5.98%.