A newly constructed Costa Coffee, featuring a drive-thru, is currently on the market for £1.8 million. The establishment is being built on Horner Way, directly across from Sainsbury’s, with an anticipated completion date in November.
Listed at £1,882,000, the property is being promoted by Edwards Property Consultants based in Manchester.
The site, which is undergoing construction, will include a drive-thru lane, 24 parking spaces (with provisions for 2 disabled parking spots and 2 electric vehicle charging stations). It is strategically situated on Horner Way (A4099), a major thoroughfare within Blackheath’s town center ring road.
The property is available with an Agreement to Lease that secures a new 15-year Full Repairing and Insuring (FRI) lease to Costa Limited, at an annual rent of £110,000. The lease agreement includes rent reviews every five years, adjusted by the Consumer Price Index (CPI), with a maximum increase of 3% and a minimum of 1%.
As a reference, investing in a Costa Coffee franchise typically costs between $200,000 to $500,000 or more.
Founded in 1971, Costa Coffee is a global coffeehouse chain with over 3,800 locations in 31 countries and a workforce of more than 18,000 employees. The company is the second-largest coffee chain worldwide and the largest in the UK. In 2019, Costa Coffee was acquired by The Coca-Cola Company for $4.9 billion.