18 - 20 Wyesham Road Monmouth Monmouthshire NP25 3JR

18 - 20 Wyesham Road
Monmouth
Monmouthshire
NP25 3JR

Freehold Retail Investment

  • Let to Martin McColl Limited
  • New reversionary lease signed until 2027 (no breaks)
  • Adjacent to Kymin View Primary and Nursery School
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    32
  • Auction
    25th May 2017
  • Rent
    £24,002 per Annum Exclusive
  • Status
    Sold
  • Price
    £301,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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* More information on the term "guide" can be found here

Freehold Retail Investment

  • Let to Martin McColl Limited
  • New reversionary lease signed until 2027 (no breaks)
  • Adjacent to Kymin View Primary and Nursery School
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 32
  • Auction 25th May 2017
  • Rent
  • Status Sold
  • Price £301,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
25 miles north-east of Newport, 32 miles north of Bristol, 30 miles west of Gloucester
Roads
A40, M24, M50
Rail
Abergavenny Rail
Air
Cardiff International Airport
Situation

The property is situated in a predominantly residential area to the east of Monmouth town centre, adjacent to Kymin View Primary and Nursery School.

Tenure

Freehold.

Location
Miles
25 miles north-east of Newport, 32 miles north of Bristol, 30 miles west of Gloucester
Roads
A40, M24, M50
Rail
Abergavenny Rail
Air
Cardiff International Airport
Situation

The property is situated in a predominantly residential area to the east of Monmouth town centre, adjacent to Kymin View Primary and Nursery School.

Tenure

Freehold.

Description

The property comprises a ground floor retail unit operating as a convenience store with residential accommodation on first and second floors which has been let on long leases, and two garages which have been demised to the retail tenant.

VAT

VAT is not 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 retail unit operating as a convenience store with residential accommodation on first and second floors which has been let on long leases, and two garages which have been demised to the retail tenant.

VAT

VAT is not 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

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review

18-20
Ground
Convenience
Store
211.35 sq m
(2,275 sq ft)
MARTIN McCOLL
LIMITED (1)
21 years (approx)
from 25/05/2006
until 20/03/2027
on a full repairing
and insuring lease
(2)
£24,000
25/05/2021
18
First/Second
Residential
Not Measured
INDIVIDUALS
999 years from
25/05/2006 until
24/05/3005
£1
 
20
First/Second
Residential
Not Measured
INDIVIDUALS
999 years from
25/05/2006 until
24/05/3005
£1
 
Total Commercial Area
 
211.35 sq m
(2,275 sq ft)
    £24,002
 

(1) For the year ending 29 November 2015, Martin McColl Limited reported a turnover of £489,336,000, pre-tax profits of £22,229,000 and a total net worth of £91,307,000 (Source: Experian Group 26/04/2017). Martin Mcoll have been in occupation since at least 2006.
(2) The current lease is for a term of 15 years expiring 24/05/2021, although, in addition, a reversionary lease is in place from 25/05/2021 until 20/03/2027. In return for signing a reversionary lease, Martin McColl Limited are currently benefitting from a concessionary rent £16,000 per annum due to expire on 24/03/2019. The seller has agreed to adjust the completion monies so that the unit will effectively produce £24,000 p.a.x. from completion of the sale.

Property Documents

  • Catalogue Page
    Updated Date
    03.05.17
    File Size
    675 KB
    View PDF
  • Site Plan
    Updated Date
    03.05.17
    File Size
    757 KB
    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
Harold Benjamin Solicitors Hill House, 67-71 Lowlands Road
Harrow
Middlesex
HA1 3EQ
020 8864 7530
Varsha Sood 020 8872 3028varsha.sood@haroldbenjamin.com

Useful Links

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

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