Thu, 28 Oct 2021 | COMMERCIAL PROPERTY
The building on Cardiff’s Queen Street housing the city’s branch of fast food chain Jollibee has been put up for sale, with offers of over £2.16 million being sought. The price tag reflects a 6.25 per cent net initial yield.
The site, 78 Queen Street, sits prominently in Cardiff’s city centre on the corner of Queen Street and Charles Street. The property was recently let to Jollibee on a 15-year lease, with the restaurant opening for business in July 2021.
The property has been brought to market by commercial property agency Cooke & Arkwright on behalf of current owners Savills Investment Management. Cooke & Arkwright’s Investment Director Nick Lawley is acting as the site’s sole marketing agent.
Lawley said: “78 Queen Street has been one of the best known fast food destinations in Cardiff city centre for decades and our client was delighted to secure Jollibee as tenant on a new long-term lease.”
“This investment opportunity offers an investor a long-term income stream from one of the biggest global fast food operators and at a yield that looks attractive in comparison to the returns currently offered by other asset classes.”
Filipino chain Jollibee has more than 1,400 restaurants around the world, but, despite strong consumer demand, only a limited number of locations in the UK. In addition to Cardiff, the chain has two restaurants in London at Leicester Square and Earls Court, as well as sites in Liverpool, Leeds, Leicester, Edinburgh and Reading. The firm plans to open an additional 50 UK sites by 2025.
One of the best ways to find properties below market price is to look at recent administrations
This thriving Grade II listed pub and restaurant in North Devon offers an attractive blend of local charm and tourist appeal, beautifully set in a historic village that benefits from a popular walking trail.
LEASEHOLD
An exciting opportunity to acquire a restaurant in the charming village of Hartley Wintney, Hampshire, complete with a three-bedroom flat, expansive car park, and a detached property.
LEASEHOLD
Charming town centre restaurant in Cheshire, featuring excellent indoor and outdoor spaces, is now on the market.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.