The RO Group acquires £1.2m drive-through restaurant
The RO Group has acquired a freehold Burger King drive-through restaurant in Norwich for £1.2m.
The 1,800 sq ft restaurant is let to BKUK Flame, a major UK Burger King franchisee, and includes both drive-through and dine-in facilities.
The property is let on a 15-year full repairing and insuring lease from May 2021, with over 10 years unexpired. The current passing rent is £65,000 per annum, subject to five-yearly upward-only open market rent reviews, with the next review due in May 2026.
Situated on the A140 outer ring road to the northwest of Norwich city centre, the property is located adjacent to a Shell petrol station, ASDA Express, and Starbucks, and directly opposite Sweet Briar Retail Park, which is home to retailers including M&S Simply Food, Currys and Costa Coffee. The restaurant also benefits from 15 dedicated car parking spaces.
Nick Cashmore, investment director at RO Real Estate, said: “We are very pleased to have added this Burger King drive thru investment to our portfolio. The property is situated in a prime trading location with 32,000 vehicles passing daily and let to an excellent covenant offering attractive reversionary potential in 2026 given the low historic passing rent. As we seek to grow our roadside portfolio this is exactly the type of drive thru asset that we will continue to target in addition to acquiring sites to develop out ourselves”.
The RO Group was advised by GCW and Womble Bond Dickinson.