Freehold Retail Investment
Freehold Retail Investment
Swinton is a densely populated residential area 5 miles north-east of Rotherham. The property is prominently situated on the east side of Thomas Street, opposite the junction with Cresswell Road. Swinton (South Yorks) Railway Station is located
just 0.5 miles south of the property.
Freehold.
Swinton is a densely populated residential area 5 miles north-east of Rotherham. The property is prominently situated on the east side of Thomas Street, opposite the junction with Cresswell Road. Swinton (South Yorks) Railway Station is located
just 0.5 miles south of the property.
Freehold.
The property comprises a substantial building which has recently been converted to provide ground floor retail and ancillary accommodation. The property benefits from a prominent frontage to Thomas Street and car parking for approximately 11 cars.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a substantial building which has recently been converted to provide ground floor retail and ancillary accommodation. The property benefits from a prominent frontage to Thomas Street and car parking for approximately 11 cars.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|
| Ground | Retail Ancillary |
195.09 sq m 22.30 sq m |
(2,100 sq ft) (240 sq ft) |
MARTIN MCCOLL LTD (1) | 15 years from 11 November 2013 until 2028 on a full repairing and insuring lease | £30,000 (2) | 11 November 2018 and 11 November 2023 (increased in line with Retail Price Index (RPI) subject to a minimum of 1.5% and a maximum of 3.5%) (3) |
| Totals | 217.39 sq m |
(2,340 sq ft) |
£30,000 | ||||
(1) For the year ending 25th November 2012, Martin McColl Limited reported a turnover of £409,154,000, pre-tax profits of £19,671,000 and a total net worth of £115,863,000. (Source: www.riskdisk.com 06/11/2013)
(2)The tenant will benefit from a concessionary rent of £15,000 p.a.x for the first 12 months of the term from November 2013 until November 2014. The seller has agreed to adjust the completion monies so that the unit will effectively produce £30,000 p.a.x from completion of the sale.
(3)The lease provides for the rent to be increased every 5 years in line with the Retail Price Index (RPI) compounded annually subject to a minimum of 1.5% and a maximum of 3.5%.
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