Property overview

Euro Garages Petrol Filling Station and Starbucks Drive Thru, John Clark Way, Rushden, NN10 0FN

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£2,043,000
May 2020

FSP has recently completed the off market acquisition of a new build petrol filling station and Starbucks drive thru investment in Rushden, Northamptonshire, for LondonMetric Property plc.

The property is located to the east of Rushden town centre overlooking the A6.  The property has been let to Euro Garages Ltd for a term of 25 years from May 2020.  Euro Garages will construct the petrol filling station and Starbucks Drive Thru unit on the site.

The lease is held on full repairing and insuring terms subject to 5 yearly upward only reviews to RPI collared at 2% and capped at 4% per annum compounded.  The commencing rent is £95,000 per annum.

The property was purchased for £2,043,000 which reflects a net initial yield of 4.38%.

The property was acquired from Godwin Developments.