Sale of 5 prime drive-thru investments
June 12, 2018
Coffer Corporate Leisure has completed the investment sale of the Drive-Thru Portfolio, a unique portfolio of five prime ‘drive thru’ investments.
All five assets are established and purpose-built drive-thru restaurants which trade well; they benefit from prominent and strong locations on major arterial roads enjoying large catchments.
Four of the properties trade as KFC, let to Scotco Midlands Ltd who are a subsidiary of the UK’s largest KFC franchisee. These properties are in prime locations in Runcorn, Chorlton, Northwich and a newly developed site in Kidderminster.
One of the properties trades as a Starbucks Drive Thru, let to Queensway Coffee Houses Ltd, which constitutes the other half of the newly developed site in Kidderminster. Total combined passing rent is £388,000 per annum.
Coffer Corporate Leisure acted on behalf of the vendor, a private client.
Mayfair Capital acquired this investment for c£6.5million, further details of this disposal remain confidential.
Mark Sheehan, Coffer Corporate Leisure, commented, “there is strong demand for acquisitions of this type nationwide”.