RO Group has acquired the freehold of a Burger King drive-thru on Sweet Briar Road, Norwich, for £1.2m.
The 1,800 sq ft property is let to BKUK Flame, a major UK Burger King franchisee, on a 15-year full repairing and insuring lease from May 2021, with more than 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.
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.”
RO Group was advised by GCW and Womble Bond Dickinson.
