Property overview

Burger King Drive Thu, Castlegate Business Park, Castlegate Way, Dudley, DY1 4TA

sold

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£1,460,000
Sep 2019

Stoford Developments, represented by FSP, has completed the forward funding of a £1.46m leisure development at Castigate Business Park, Dudley.

The development comprises a new build drive thru restaurant with 24 car parking spaces.  The unit are let for 20 years term certain to Caspian Food Services Ltd (t/a Burger King) at a rent of £89,375 per annum.  The rent is reviewed five yearly to RPI collard at 1% and capped at 4% per annum compounded.

The purchase price represents a net initial yield of 5.75%.

L&G was represented by JLL.