Somerby Park, Gainsborough, DN21 1QT
| Property Type | |
| Tenure | For Sale |
| Size | 1,846 sq ft |
| Price | Offers in excess of £1,395,000 A purchase at this level reflects an initial yield of 5.75% subject to purchase costs of 5.8% The property has been elected for VAT. It is anticipated that the sale will be dealt with by way of Transfer of a Going Concern (TOGC). |
| Business Rates | Upon Enquiry |
| Energy Performance Rating | This property has been graded as A+ |
The property comprises a brand-new, purpose-built, stand-alone, Starbucks Drive-Thru restaurant of 1,846 sq ft.
The property is constructed with a mix of composite panels, timber cladding and a large glazed frontage underneath a flat roof.
Internally the unit is currently being fitted out in the Starbucks corporate style and will have contemporary customer seating and restroom areas. In addition to this there are staff offices and associated welfare and storage areas.
Externally the property has tarmacked car parking spaces, including EV charging bays, a drive thru lane and prominent signage.
Sustainability is a key focus of Starbucks’ construction approach, with the property incorporating environmentally friendly materials, water-saving fixtures, and energy efficient design elements. The building has 30 roof mounted PV Panels.
The property is let to KBeverage Limited (trading as Starbucks) by way of a 15 year FRI lease from 17/03/2025. The initial rent passing is £85,000 pa.
The tenant has a 12-month rent-free period at the beginning of the lease, which the vender will top up.
The lease is subject to 5 yearly upwardly only OMV rents reviews subject to a cap and collar of 1 & 3% compounded annually. A copy of the lease is available upon request.
The property will be sold by way of a new 999 year lease at a peppercorn rental, without review.
The lease will be an intermediate lease between the retained freehold and the occupational lease. The purchaser will have the right to use no less than 17 car parking spaces and the right to use the rest of the estate in common with others in the same way as granted to the occupational tenant.
There will be an estate service charge for the common areas, that is fully recoverable from the tenant.
The new Starbucks unit is situated to the east of Gainsborough town centre and makes up part of a modern roadside development, situated as part of the wider Somerby Park commercial development.
The property lies adjacent to the Lincolnshire Otter family pub, at the junction of and fronting the A631, Thorndike Way, Gainsborough bypass.
Somerby Park is an established commercial park and recognised as Gainsborough’s prime employment area.
As part of the wider site there is a future development plot for drive thru or similar uses which will share access and car parking with the subject property. The vendor has good occupational interest and it is expected that the plot will be developed soon.
Gainsborough is a thriving Lincolnshire market town, positioned along the River Trent, and is the administrative centre for West Lindsey District Council. Gainsborough is well serviced by Marshall’s Yard, a modern shopping destination, with
occupiers including M&S Simply Food, Next, The Range and B&M alongside complementary hotel and restaurant occupiers.
The town has good access to the motorway network with the A631 leading to the A1(M) and M18 to the west and the M180 to the north. Rail services link into the East Coast Mainline providing services to London KX, Leeds, York and Hull via Retford and Doncaster.
Major businesses located in the town include PING, EMINOX, Meditrade and Regal Manufacturing
