Entirely let to Malthurst Petroleum Limited until September 2025 (no breaks)
Fixed rental increase in October 2020
Strategically located on a busy London to Cambridge & King’s Lynn arterial route (A10)
Approximate site area of 0.20 hectares (0.49 acres)
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 7
Auction 23rd March 2016
Rent £83,205 per Annum Exclusive
Status Sold
Price £1,410,000
Sector Motor Trade, Petrol Station
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On Behalf of Receivers CBRE
Property Information
Location
Miles
5 miles north-east of Cambridge, 31 miles west of Bury St Edmunds, 33 miles south-east of Peterborough
Roads
A10, A14, A142, M11
Rail
Waterbeach Rail Station (direct to Cambridge Railway Station in 6 mins)
Air
Stansted Airport
Situation
The property is strategically located on the western side of the A10, a major arterial route that connects London to Cambridge and King’s Lynn. The property is situated some five miles north-east of Cambridge city centre close to Glenmure Business Park and Cambridge Research Park, which occupies some 112 acres of landscaped grounds and is currently home to approximately 20 companies employing in excess of 330 employees. Access can be achieved from both the M11 Motorway (South) and A1 (North).
Tenure
Freehold.
Location
Miles
5 miles north-east of Cambridge, 31 miles west of Bury St Edmunds, 33 miles south-east of Peterborough
Roads
A10, A14, A142, M11
Rail
Waterbeach Rail Station (direct to Cambridge Railway Station in 6 mins)
Air
Stansted Airport
Situation
The property is strategically located on the western side of the A10, a major arterial route that connects London to Cambridge and King’s Lynn. The property is situated some five miles north-east of Cambridge city centre close to Glenmure Business Park and Cambridge Research Park, which occupies some 112 acres of landscaped grounds and is currently home to approximately 20 companies employing in excess of 330 employees. Access can be achieved from both the M11 Motorway (South) and A1 (North).
Tenure
Freehold.
Description
The property comprises a petrol filling station with Spar retail store. The site provides for 3 pump islands, each containing 6 pumps and set under a freestanding canopy.
Six week completion
Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
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 petrol filling station with Spar retail store. The site provides for 3 pump islands, each containing 6 pumps and set under a freestanding canopy.
Six week completion
Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
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
Review/(Reversion)
Ground
Petrol Filling Station & Retail
133.59 sq m
(1,438 sq ft)
MALTHURST PETROLEUM LIMITED (1)
20 years from 01/10/2005 on a full repairing and insuring lease
£83,205 rising to £94,139 in October 2020
01/10/2020 (2) (30/09/2025)
Totals
133.59 sq m
(1,438 sq ft)
£83,205
(1) For the year ending 28th September 2014, Malthurst Petroleum Limited reported a turnover of £742,241,000, pre-tax profits of £13,670,000 and a total net worth of £71,719,000 (Source: Experian Group 22/02/2016). (2) The lease is subject to a fixed rental increase in October 2020 to £94,139 per annum. (3) The approximate floor areas are for the Spar retail unit only.
Contacts
Seller's Solicitors
Walker Morris LLP Kings Court, 12 King street Leeds LS1 2HL
