Syndicate Type: Income & Geared
Asset Type: Restaurant
Property Address: Triangle retail park, Leicester – The Dome Roundabout, Watford
Tenant: Pizza Hut Realty Ltd
Lease Expiry (Leicester): 24/06/2018
Lease Expiry (Watford): 28/09/2026
Passing rent: £163,260
The property is situated within one mile of Junction 21 of the M1 motorway, which intersects with the M69 motorway. The property is bounded by the A5460 ring road in close proximity to Fosse Park, the 10th largest retail park in the UK. Occupiers include Marks and Spencer, Next, Gap and Monsoon.
The Watford property occupies a prominent position on the Dome Roundabout adjacent to Sainsbury’s and opposite an ASDA superstore on the north side of North Western Avenue (A41). Access is provided via St Albans Road.
Comprising 3,481 sq ft (323.36 sq m), the Leicester property is a standalone unit constructed in 1992 and is of part brick and part glazed construction under a tiled roof. Provision is made to accommodate parking for 49 vehicles.
Comprising 3,477 sq ft (322.99 sq m), the Watford property was constructed in 2000 and is of a similar construction to the Leicester property save for a pitched corrugated metal roof. Provision is made to accommodate 134 customers plus a waiting area for takeaways.
The site benefits from rights to utilise a number of parking spaces within Sainsbury’s car park.