McColl's Convenience Store, 3, 5 & 7 Rural Lane Wisewood Sheffield South Yorkshire S6 4BH

McColl's Convenience Store, 3, 5 & 7 Rural Lane
Wisewood
Sheffield
South Yorkshire
S6 4BH

Freehold Convenience Store and Retail Residential Investment

Majority Let to Martin McColl Ltd until 2032
2% per annum compounded fixed rental increases
Includes three self-contained residential flats
No VAT applicable
Six Week Completion
Rent rises to £32,472.96 p.a.x. in 2017

Lot
7
Auction
13th February 2014
Rent
£30,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Convenience Store and Retail Residential Investment

Majority Let to Martin McColl Ltd until 2032
2% per annum compounded fixed rental increases
Includes three self-contained residential flats
No VAT applicable
Six Week Completion
Rent rises to £32,472.96 p.a.x. in 2017

Lot 7
Auction 13th February 2014
Rent £30,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 3 miles north-west of Sheffield city centre, 31 miles south of Leeds, 37 miles east of Manchester
Roads: A61, A57, M1 (Junction 34)
Rail: Sheffield Railway Station
Air: Manchester Airport

Situation

The property is located in a prominent position in a neighbourhood parade in the popular residential area of Wisewood. The property is situated to the west of Rural Lane at its junction with Ben Lane.

Tenure

Freehold.

Location

Miles: 3 miles north-west of Sheffield city centre, 31 miles south of Leeds, 37 miles east of Manchester
Roads: A61, A57, M1 (Junction 34)
Rail: Sheffield Railway Station
Air: Manchester Airport

Situation

Tenure

Freehold.

Description

The property comprises retail and ancillary accommodation on the ground floor with three self-contained residential flats on the first floor. The property benefits from a double frontage, an on-site Post Office and a cash machine.

VAT

VAT is not applicable to this lot.

EPC

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

Description

VAT

VAT is not 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	Review
Ground First	Retail/Ancillary 2 Bedroom Residential Flat	175.96 sq m Not Measured	(1,894 sq ft) Not Measured	MARTIN McCOLL LIMITED (1)	20 years from 19/11/2012 until 2032 on full repairing and insuring leases (2) (3)	£30,000	18/11/2017 and 5 yearly (fixed rental increases by 2% per annum compounded)
First	Residential	Not Measured		MKD PROPERTIES LTD	999 years from 19/11/2012	Peppercorn
First	Residential	Not Measured		INDIVIDUALS	200 years from 07/11/1996	Peppercorn
Totals		175.96 sq m	(1,894 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 13/01/2014)
(2)The lease provides for 5 yearly rent reviews with fixed rental increases at 2% per annum compounded.
(3)The commercial element of the property and one flat is let to Martin McColl Limited by way of two co-terminous leases each for a term of 20 years from 19th November 2012 on FRI terms. The passing rent on each lease is £15,000 per annum giving a total income of £30,000 per annum exclusive.