Description
The site extends to approximately 0.611 acres (0.247 hectares) of predominantly grassed land, bounded by the A35, The Grove, and fencing. The land is relatively flat, positioned within a generally level landscape.

The site currently benefits from an outline planning permission for a drive thru and EV charging bays. The planning permission will comprise a 2,150 sq. ft restaurant with appropriate drive thru lane surrounding and a EV charging hub with 12 bays.

Traffic Count
Department for Transport Daily Traffic Counts are provided below for the most recent year:-

A35 - 27,048

Planning
Planning permission has been granted, (Ref: 8/24/0749/CONDR). A s73 has been submitted and due to be granted shortly (Q1 2025), following which a reserved matters application will be submitted. The Landowner anticipates achieving Practical Completion by the end of 2025.

Covenant Strength
Wendy's is the third largest burger operator in the world and was founded in 1969. Wendy’s have over 7,000 restaurants internationally and started their UK expansion in 2021, where they now have 40 restaurants. Their goal is to reach more than 1,500 restaurants outside of the U.S.

NFH restaurants operates Wendy’s locations including Southend, Chelmsford, Brighton, Guildford, and is under offer in other locations such as Gosport, Lakeside and Southampton. The covenant is therefore in a period of growth but can be considered capable of meeting their lease obligations for the duration of the term.

SSE is a leading generator of renewable electricity in the UK and Ireland and one of the largest electricity network companies in the UK. The SSE Covenant is therefore undoubted.

Tenure & Guide
Offers are invited in the order of £2,995,000 (representing a 5.71% NIY) for the freehold interest subject to the 2 occupational leases by way of forward commitment with purchasers costs of 6.52%. A 5% deposit will be payable on exchange with completion upon practical completion of the units and lease completions (scheduled for Q4 2025). Rent free will be absorbed by the vendor by way of a rent top up or price adjustment reflective of the completion date.

VAT
Vat is applicable but it is assumed that the sale can be treated as a TOGC and therefore VAT will be waivered.

EPC
No buildings are present on site. The EPC’s will be assessed upon completion of the development.

Anti-Money Laundering Regulations
In accordance with Anti-Money Laundering Regulations, the preferred purchaser will be required to provide identification and proof of address, prior to exchange.

Viewing
For a formal viewing strictly by appointment with Savills.