McDonald’s Drive Thru, Berristow Lane, South Normanton, DE55 2JL
Franck-Steier Price has recently completed the sale of a modern drive thru investment on behalf of Tencent Holdings.
The property is located on the roundabout for the East Midlands Designer Outlet, half a mile from J28 of the M1 motorway. The property comprises a modern McDonald’s Drive Thru developed in 2012 and extending to 4,105 sq.ft with 32 car parking spaces.
The property is let to McDonald’s Restaurants Ltd for a term of 20 years from 29 September 2012 at a rent of £90,000 per annum. The lease is held on full repairing and insuring terms subject to 5 yearly reviews to open market value.
The purchase price of £1,630,000 represented a net initial yield of 5.22%, assuming costs of purchase of 5.80%.
The purchaser was Darley Properties, represented by RY Partnership.