Let to Kwik-Fit Properties Ltd, guaranteed by Kwik-Fit Holdings Ltd, until 2024
Prominent city centre position at the junction of Wolverhampton's ring road close to the University of Wolverhampton
Outstanding February 2009 rent review
Approximately 1,058.3 sq m (11,391 sq ft)
Nearby occupiers include Topps Tiles, Focus, Harvey's, JJB Sports and Build Center
Six Week Completion Period Available
Lot 16
Auction 22nd February 2011
Rent £111,599 per Annum Exclusive
Status Withdrawn Post
Price
Sector Motor Trade/Petrol Station
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
17 miles north-west of Birmingham
6 miles north of Dudley
9 miles west of Walsall
Roads
A449, A4150, M6, M54, M5
Rail
Wolverhampton
Air
Birmingham International Airport
Situation
The property is prominently situated on the east side of the busy A449 (Stafford Street) at its junction with the A4150 (Wolverhampton Ring Road). Stafford Street is the main arterial route linking the city centre with the M54 motorway (Junction 2). The property is situated in a busy commercial area close to Peel Retail Park and nearby occupiers including Topps Tiles, Focus, Harvey's, JJB Sports and Build Center.
Tenure
Freehold.
Location
Miles
17 miles north-west of Birmingham
6 miles north of Dudley
9 miles west of Walsall
Roads
A449, A4150, M6, M54, M5
Rail
Wolverhampton
Air
Birmingham International Airport
Situation
The property is prominently situated on the east side of the busy A449 (Stafford Street) at its junction with the A4150 (Wolverhampton Ring Road). Stafford Street is the main arterial route linking the city centre with the M54 motorway (Junction 2). The property is situated in a busy commercial area close to Peel Retail Park and nearby occupiers including Topps Tiles, Focus, Harvey's, JJB Sports and Build Center.
Tenure
Freehold.
Description
The property comprises a single storey TYRE/EXHAUST/MOT SERVICE FACILITY with five roller shutter doors and wide frontage to Stafford Street and a concertina door to the side. The accommodation comprises a vehicle service and MOT area, reception, staff and WC facilities and forecourt parking for some 6 cars. The site extends to approximately 0.35 acres (0.14 hectares).
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 single storey TYRE/EXHAUST/MOT SERVICE FACILITY with five roller shutter doors and wide frontage to Stafford Street and a concertina door to the side. The accommodation comprises a vehicle service and MOT area, reception, staff and WC facilities and forecourt parking for some 6 cars. The site extends to approximately 0.35 acres (0.14 hectares).
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
1,058.3 sq m
(11,391 sq ft)
KWIK-FIT PROPERTIES LTD (guaranteed by KWIK-FIT HOLDINGS LTD) (1)
30 years from 04/02/1994 until 2024 on a full repairing and insuring lease (2)
£111,599.48
04/02/2009 and 5 yearly
Totals
1,058.3 sq m
(11,391 sq ft)
£111,599.48
(1) For the year ending 31st December 2009, Kwik-Fit Properties Ltd reported a turnover of £70,000, pre-tax profits of £678,000 and a total net worth of £10,099,000. (Source: www.riskdisk.com 25/01/2011) For the year ending 31st December 2009, Kwik-Fit Properties Ltd reported pre-tax profits of £2,302,000 and a net worth of £376,427,000. (Source: www.riskdisk.com 25/01/2011) (2) Under the terms of the lease, while the occupational tenant is Kwik-Fit Properties Limited the occupational tenant insures.
