Edwards & Co Acquire Costa Coffee Drive-Thru for Private Clients
Acting on behalf of Private Clients, Edwards & Co have acquired a new build Costa Coffee Drive-Thru in Bradford.
The investment is situated adjacent to Aldi and is let to Costa Coffee on a 15-year lease, with no breaks, at an annual rent of £62,000. The lease is subject to 5 yearly rent reviews at open market value and subject to a 1% pa collar and 3% pa cap.
The property was purchased for £1,171,500, reflecting a net initial yield of 5%. Hague Nicholls represented the vendor.
Martin Hamer of Edwards & Co comments: "There has been an increase in demand for this type of opportunity with investors from across the spectrum seeking good quality, secure income. This transaction is just one of a number we are working on and we were delighted to acquire it for our clients off market."