Kwik Fit 3 Lansdowne Road Middlesbrough TS4 2LW

Kwik Fit
3 Lansdowne Road
Middlesbrough
TS4 2LW

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 busy roundabout of the A172
  • Six Week Completion
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    35
  • Auction
    26th March 2015
  • Rent
    £79,022 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    Motor Trade/Petrol Station
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Expand
  • 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 busy roundabout of the A172
  • Six Week Completion
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 35
  • Auction 26th March 2015
  • Rent
  • Status Withdrawn Post
  • Price  
  • Sector
    Motor Trade/Petrol Station
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
35 miles south of Newcastle, 65 miles north-east of Leeds
Roads
A174, A19, A66
Rail
Middlesbrough Railway Station
Air
Durham Tees Valley Airport, Newcastle Airport
Situation

The property is prominently situated on a busy roundabout of the A172 approximately 1 mile south of the town centre. Nearby occupiers include GSF Car Parts, Riversite Van Sales, Tesco Express and Premier Convenience Stores.

Tenure

Freehold.

Location
Miles
35 miles south of Newcastle, 65 miles north-east of Leeds
Roads
A174, A19, A66
Rail
Middlesbrough Railway Station
Air
Durham Tees Valley Airport, Newcastle Airport
Situation

The property is prominently situated on a busy roundabout of the A172 approximately 1 mile south of the town centre. Nearby occupiers include GSF Car Parts, Riversite Van Sales, Tesco Express and Premier Convenience Stores.

Tenure

Freehold.

Description

The property comprises a modern single storey tyre, exhaust and MOT centre configured in an ‘L’ shape with 6 vehicle bays. The property benefits from a site area of approximately 0.13 hectares (0.32 acres) with approximately 13 car parking spaces.

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 modern single storey tyre, exhaust and MOT centre configured in an ‘L’ shape with 6 vehicle bays. The property benefits from a site area of approximately 0.13 hectares (0.32 acres) with approximately 13 car parking spaces.

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
488.20 sq m
(5,255 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 £79,022 (3) 20/03/2017
and
20/03/2022
Totals  
488.20 sq m
(5,255 sq ft)
    £79,022 (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 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 £68,165.32. 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 £79,022
per annum exclusive on 20/03/2017. The seller will pay the buyer the difference between the current rent reserved of £68,165.32 per annum exclusive and £79,022 per annum exclusive. Therefore the property will produce £79,022 per annum exclusive. The 2022 rent review is an upward only open market rent review.
(4) 258 Longlands Road, TS4 2LW is used for identification only. The actual address of the property registered under title number CE 167319 and CE 167318 is Landsdowne Road, TS4 2LW.

Property Documents

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