Savills, on behalf of MVJ Capital, has sold a Starbucks drive thru unit in Swansea to a private buyer for £1.15 million, representing a net initial yield of 5.34%.
The unit on Fabian Way is let to Magic Bean co. and trades as a 24 hour Starbucks Drive Thru, constructed in 2015. The unit is located on the busy thoroughfare of the A438 just off Fabian Way, one of the main arterial routes into Swansea.
Ross Griffin, investment director at Savills Cardiff, comments:
“We are pleased to have sold the Starbucks on Fabian Way on behalf of our client in line with their ongoing investment strategy.”
Matthew Pearcey of MVJ Capital adds:
“We have owned this asset since development but the current strength in the drive-thru investment market gave us a one-off opportunity to exit at such an attractive level.”
Bromwich Hardy acted for the buyer.