Entirely let to Kwik-Fit (GB) Limited (guaranteed by Kwik-Fit Holdings Limited) until 2032
Minimum fixed rental uplift to a minimum of £25,040.32 p.a.x in 2017
Located on the busy Bridge Street (A656) less than 200 metres from Castleford town centre
Six Week Completion
Lot 29
Auction 5th December 2013
Rent £21,600 per Annum Exclusive
Status Withdrawn Post
Price
Sector Motor Trade, Petrol Station
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
8 miles north-east of Wakefield, 11 miles south-east of Leeds
Roads
A656, M62 (Junction 32), M1 (Junction 42)
Rail
Castleford Rail
Air
Leeds Bradford International Airport
Situation
The property is situated in a prominent position on the southern side of Bridge Street (A656) providing direct access to the M62 Motorway (Junction 32). Castleford’s primary retailing thoroughfare on Carlton Street lies less than 220 metres to the north.
Tenure
Freehold.
Location
Miles
8 miles north-east of Wakefield, 11 miles south-east of Leeds
Roads
A656, M62 (Junction 32), M1 (Junction 42)
Rail
Castleford Rail
Air
Leeds Bradford International Airport
Situation
The property is situated in a prominent position on the southern side of Bridge Street (A656) providing direct access to the M62 Motorway (Junction 32). Castleford’s primary retailing thoroughfare on Carlton Street lies less than 220 metres to the north.
Tenure
Freehold.
Description
The property comprises a ground floor tyre depot with reception area and storage and staff accommodation. The property also benefits from a forecourt with car parking spaces for approximately 7 cars, 5 roller shutter doors and an approximate site area of 0.06 hectares (0.16 acres).
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 ground floor tyre depot with reception area and storage and staff accommodation. The property also benefits from a forecourt with car parking spaces for approximately 7 cars, 5 roller shutter doors and an approximate site area of 0.06 hectares (0.16 acres).
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
Motor Trade
334 sq m
(3,595 sq ft)
KWIK-FIT (GB) LIMITED (1) guaranteed by Kwik-Fit Holdings Limited (2)
25 years from 20/03/2007 until 19/03/2032
£21,600
20/03/2017 and 20/03/2022 (3)
Totals
334 sq m
(3,595 sq ft)
£21,600 rising to a minimum of £25,040.32 (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 29/10/2013) (2)For the year ending 31st March 2012, Kwik-Fit Holdings Limited reported pre-tax profits of £174,094,000 and a total net worth of £111,407,000. (Source: www.riskdisk.com 29/10/2013) (3)The lease provides for the 2017 review to be calculated to the higher of the market rent or 115.9274% of the passing rent (which equates to £25,040.32 p.a.x.) The subsequent review in 2022 is to be calculated to the higher of the passing rent or the market rent.
Contacts
Seller's Solicitors
Dickson Minto WS 16 Charlotte Street Edinburgh EH2 4DF
