Kwik Fit 6 Chesterfield Road South Mansfield Nottinghamshire NG19 7AD

Kwik Fit
6 Chesterfield Road South
Mansfield
Nottinghamshire
NG19 7AD

Freehold Tyre Depot Investment

  • Entirely let to Kwik-Fit (GB) Limited (guaranteed by Kwik-Fit Holdings Limited) until 2032 (no breaks)
  • Imminent rent review to the greater of £71,227.56 pa or OMRV in March 2017 (3)
  • Prominent location on busy Chesterfield Road South (A6609)
  • Approximate site area of 0.22 hectares (0.55 acres)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    55
  • Auction
    30th March 2017
  • Rent
    £71,227 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,155,000
  • Sector
    Motor Trade/Petrol Station
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
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* More information on the term "guide" can be found here

Freehold Tyre Depot Investment

  • Entirely let to Kwik-Fit (GB) Limited (guaranteed by Kwik-Fit Holdings Limited) until 2032 (no breaks)
  • Imminent rent review to the greater of £71,227.56 pa or OMRV in March 2017 (3)
  • Prominent location on busy Chesterfield Road South (A6609)
  • Approximate site area of 0.22 hectares (0.55 acres)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 55
  • Auction 30th March 2017
  • Rent
  • Status Sold
  • Price £1,155,000
  • Sector
    Motor Trade/Petrol Station
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
14 miles north of Nottingham, 22 miles south-east of Sheffield, 30 miles west of Lincoln
Roads
A6009, A60, M1 (Junction 28)
Rail
Mansfield Rail
Air
Nottingham City Airport
Situation

Mansfield is a popular market town located midwaybetween Sheffield and Nottingham, benefitting from good communication links, being just 7 miles east of the M1 Motorway (Junction 28). The property occupies a prominent roadside pitch fronting Chesterfield Road South and is a short distance from the Four Seasons Shopping Centre, which houses a number of national occupiers including Debenhams, Primark and Boots. Other nearby occupiers include Wickes, Tesco Extra and Mr Tyre

Tenure

Freehold.

Location
Miles
14 miles north of Nottingham, 22 miles south-east of Sheffield, 30 miles west of Lincoln
Roads
A6009, A60, M1 (Junction 28)
Rail
Mansfield Rail
Air
Nottingham City Airport
Situation

Mansfield is a popular market town located midwaybetween Sheffield and Nottingham, benefitting from good communication links, being just 7 miles east of the M1 Motorway (Junction 28). The property occupies a prominent roadside pitch fronting Chesterfield Road South and is a short distance from the Four Seasons Shopping Centre, which houses a number of national occupiers including Debenhams, Primark and Boots. Other nearby occupiers include Wickes, Tesco Extra and Mr Tyre

Tenure

Freehold.

Description

The property comprises a ground floor tyre depot with reception area and storage/staff accommodation. The property also benefits from a forecourt to park approximately ten cars, roller shutter doors and an approximate site area of 0.22 hectares (0.55 acres).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor tyre depot with reception area and storage/staff accommodation. The property also benefits from a forecourt to park approximately ten cars, roller shutter doors and an approximate site area of 0.22 hectares (0.55 acres).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews
Ground
Tyre Depot
1,511.48 sq m
(16,270 sq ft)
KWIK-FIT (GB) LIMITED
(GUARANTEED BY
KWIK-FIT HOLDINGS
LIMITED) (1) (2)

25 years from
20/03/2007 until
19/03/2032 on a full
repairing and insuring
lease
£71,227.56
(3)
20/03/2017
20/03/2022
20/03/2027
Total  
1,511.48 sq m
(16,270 sq ft)
    £71,227.56
(3)

 

(1) For the year ending 31st March 2016, Kwik-Fit (GB) Limited reported a turnover of £467,340,000, pre-tax profits of £21,308,000 and a totalnet worth of £63,648,000 (Source: Experian Group - 20/02/2017). For the year ending 31st March 2016, Kwik-Fit Holdings Limited reported a total net worth of £28,538,000 (Source: Experian Group - 20/02/2017).
(2) Please note the tenant has the option to renew the lease for a further term of 15 years from the expiry of the lease. For further information, please refer to the legal pack.
(3) For the purpose of clarification, the current rent is £61,441.52 per annum with a rent review on 20th March 2017 to the greater of £71,227.56 per annum or OMRV. This March 2017 review is imminent. The rent reviews thereafter will be reviewed to OMRV.

Property Documents

  • Site Plan
    Updated Date
    31.10.19
    File Size
    734 KB
    View PDF
  • Catalogue Page
    Updated Date
    31.10.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Harrop White Vallance and Dawson 9/11 Albert Street
Mansfield
Nottinghamshire
NG18 1EA
Charles Dawson 01623 629 221info@harropwhite.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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