Cube RE acquires Suffolk drive-through restaurant
Cube Real Estate, on behalf of The Hathaway Opportunity Fund, has acquired a drive-through restaurant in Newmarket, Suffolk.
Located on Oaks Drive, the property is let to BKUK Flame Ltd, trading as Burger King with 11 years unexpired on the lease.
The restaurant is situated adjacent to Studlands Retail Park, which The Hathaway Opportunity Fund already holds in its property investment portfolio.
Jonathan Butcher, senior asset manager at Cube, said: “The acquisition of this investment extends our ownership in the area, adding to the offer at Studlands Retail Park which remains fully let following the recent additions of The Range and Tapi Carpets to this thriving retail destination.”
Recent changes to the park include the assignment of the existing Homebase lease to The Range, while Tapi Carpets has taken on Carpetright’s former unit and is now open and trading following refurbishment works.
Other occupiers at Studlands Retail Park include Halfords, Pets at Homes, Costa Coffee, and Tesla, which leases the electric vehicle charging points.
Jonathan Butcher, senior asset manager at Cube, said: “These two new tenants at Studlands Retail Park add perfectly to the existing offer. And with the new, adjacent housing development coming to fruition, footfall will continue to increase at the scheme which is fully let across the five units.”
HRH Retail advised the vendor. Cube RE was represented by Morgan Williams.