Kwik Fit 503 Wells Road Bristol BS14 9AL

Kwik Fit
503 Wells Road
Bristol
BS14 9AL

Freehold Tyre Depot Investment

  • Entirely let to Kwik-Fit (GB) Limited (guaranteed by Kwik-Fit Holdings Limited) until 2032
  • Tenant option to extend for a further 15 years
  • 17 years term certain
  • Located on a busy junction of the A37, a popular Bristol Suburb
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    17
  • Auction
    26th March 2015
  • Rent
    £32,460 per Annum Exclusive
  • Status
    Sold
  • Price
    £520,000
  • Sector
    Motor Trade/Petrol Station
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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  • Photos
  • Map

* 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
  • Tenant option to extend for a further 15 years
  • 17 years term certain
  • Located on a busy junction of the A37, a popular Bristol Suburb
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 17
  • Auction 26th March 2015
  • Rent
  • Status Sold
  • Price £520,000
  • Sector
    Motor Trade/Petrol Station
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
3 miles south-east of Bristol
Roads
A4, A37, A4174
Rail
Bristol Temple Meads Railway Station
Air
Bristol Airport
Situation

The property is prominently situated on a busy junction of the A37 and B3119 in a popular suburb some 3 miles south-east of Bristol City Centre.

Tenure

Freehold.

Location
Miles
3 miles south-east of Bristol
Roads
A4, A37, A4174
Rail
Bristol Temple Meads Railway Station
Air
Bristol Airport
Situation

The property is prominently situated on a busy junction of the A37 and B3119 in a popular suburb some 3 miles south-east of Bristol City Centre.

Tenure

Freehold.

Description

The property comprises a single storey tyre and exhaust centre with 4 vehicle bays. The property benefits from a site area of approximately 0.09 hectares (0.24 acres) with forecourt parking.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

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

Description

The property comprises a single storey tyre and exhaust centre with 4 vehicle bays. The property benefits from a site area of approximately 0.09 hectares (0.24 acres) with forecourt parking.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

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
291.99 sq m
(3,143 sq ft)
KWIK-FIT (GB) LIMITED (1) guaranteed by Kwik- Fit Holdings Limited (2) 25 years from 20/03/2007 until 19/03/2032 on a full repairing and insuring lease with tenant option to extend for a further 15 years £32,460 (3) 20/03/2017 (3)
and 20/03/2022
Totals  
291.99 sq m
(3,143 sq ft)
    £32,460 (3)

(1) Kwik-Fit are experts in automotive repair including tyres, MoT testing, car servicing, exhausts, brakes, and air-con. They are the leading fast-fit supplier of tyres in the country and carry stocks of over 600,000 products in over 600 Centres. (Source: www.kwik-fit.com 16/1/2015)
(2) For the year ending 31st March 2014, Kwik-Fit (GB) Limited reported a turnover of £519,087,000, pre-tax profits of £28,938,000 and a net worth of £33,650,000. (Source: www.riskdisk.com 9/09/2014). For the year ending 31st March 2014, Kwik-Fit Holdings Limited reported pre-tax profits of £95,410,000 and a total net worth of £28,518,000. (Source: www.riskdisk.com 16/1/2015)
(3) Under the terms of the lease the current rent reserved is £28,000. The lease provides for the rent to be reviewed on 20/03/2017 to the higher of open market rental value or increased by 3% per annum compounded. Therefore the rent will increase to a minimum of £32,460 per annum exclusive on 20/03/2017. The seller will pay the buyer the difference between the current rent reserved of £28,000 per annum exclusive and £32,460 per annum exclusive. Therefore the property will produce £32,460 per annum exclusive. The 2022 rent review is an upward only open market rent review.

Property Documents

  • Catalogue Page
    Updated Date
    03.03.15
    File Size
    774 KB
    View PDF
  • Site Plan
    Updated Date
    03.03.15
    File Size
    52 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

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
HBJ Gateley Exchange Tower, 19 Canning Street
Edinburgh
EH3 8EH
Scotland
Carrie Armstrong 0131 222 9456carmstrong@hbjgateley.com  Alison Newton 0141 574 2445anewton@hbjgateley.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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