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