Starbucks Drive Thru, Liphook Services, A3 Northbound

Location

The property forms part of the well-established Liphook Service Station that is excellently situated within a prominently position fronting the northbound carriage way with immediate and direct access from the A3 bypass. 

The alternative nearest Service station on the A3 northbound is north of Guilford, situated in Ripley, located over 22 miles from Liphook. The property is situated opposite Shell Garage and adjacent to a new McDonalds, opening in November 2022.

Description

The property is an existing single storey Starbucks coffee shop building totaling circa 2,799 sq ft and providing circa 70 seats internally.

The landlord will undertake approved external and structural works required to create the Drive-Thru Kiosk area to the rear of the existing building. The works are currently underway and will be completed shortly. During this period, the tenant will simultaneously refurbish and undertake interior fit out works on the unit to facilitate use of the Drive-Thru lane. Plans of the works and design drawing are available upon request. 

The Gross Internal floor area of the property is approximately 2,799 sq ft and the site area is 0.64 acres (0.26 hectares) and includes 20 car parking spaces, four of which are designated electric vehicle charging bays.

·       Prominently situated on the A3 Northbound, the main arterial route connecting the south coast to London

·       Established service station with Shell Garage & McDonalds

·       The first franchised Starbucks store in the UK

·       Freehold

·       2,799 sq ft Starbucks Coffee drive-thru

·       Let to 23.5 Degrees Limited (Starbucks first original UK franchised business partner)

·       New lease for a term of 15 years

·       Rent of £75,000 per annum reflecting £26.80 per sq ft

·       Five yearly upwards only CPI linked rent reviews with a cap and collar of 1% - 3% per annum compounded

·       Separate lease to Osprey Charging Network Ltd for two EV charging points at an additional rent of £5,000 per annum

·       Offers in excess of £1,500,000 (One Million Five Hundred Thousand Pounds) subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 5.03% (assuming purchaser’s costs of 6.10%)