Let to M.K.M Building Supplies Limited until 2028 (subject to option)
Approximately 0.80 hectares (1.99 acres) with a low site coverage of approximately 17.5%
Established Trade Counter location with good access to the A1 motorway
Fixed Minimum Rental Increase in 2023
Producing £192,000 per annum exclusive (subject to note 2). Rising to a minimum of £217,245 pax in 2023
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 14
Auction 16th February 2017
Rent £192,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Trade Counter
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
10 miles south of Doncaster, 20 miles north-west of Lincoln, 25 miles east of Sheffield
Roads
A1, A638
Rail
Retford Railway Station
Air
Robin Hood Doncaster Sheffield
Situation
The property is prominently situated on the east side of Randall Park Way off Randall Way and is accessed via the A638 north road in the district of Hallcroft, an established industrial and trade park location north of Retford Town Centre. Other occupiers on the estate include Howdens Joinery, Travis Perkins and Royal Mail.
Tenure
Freehold.
Location
Miles
10 miles south of Doncaster, 20 miles north-west of Lincoln, 25 miles east of Sheffield
Roads
A1, A638
Rail
Retford Railway Station
Air
Robin Hood Doncaster Sheffield
Situation
The property is prominently situated on the east side of Randall Park Way off Randall Way and is accessed via the A638 north road in the district of Hallcroft, an established industrial and trade park location north of Retford Town Centre. Other occupiers on the estate include Howdens Joinery, Travis Perkins and Royal Mail.
Tenure
Freehold.
Description
The property comprises a substantial modern trade counter building which benefits from an eaves height of approximately 6m/20ft and two vehicle access loading doors. The site benefits from an extensive yard and extends to approximately 0.80 hectares (1.99 acres) with a low approximate site coverage of 17.5%.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial modern trade counter building which benefits from an eaves height of approximately 6m/20ft and two vehicle access loading doors. The site benefits from an extensive yard and extends to approximately 0.80 hectares (1.99 acres) with a low approximate site coverage of 17.5%.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
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
Trade Counter
1,399.66 sq m
(15,066 sq ft)
M.K.M BUILDING SUPPLIES LIMITED (1)
20 years from 28/02/2008 (3)
£192,000 (2)
28/02/2018 (28/02/2028)
Totals
1,399.66 sq m
(15,066 sq ft)
£192,000
(1) For the year ending 30th September 2015, M.K.M Building Supplies Limited reported a turnover of £251,916,000, pre-tax profits of £16,077,000 and a total net worth of £20,222,000 (Source: Riskdisk 10/01/2017). MKM is the UK’s largest independent builders merchant, with 47 branches across England and Scotland (Source: www.mkmbs.co.uk/). (2) The current rent reserved under the terms of the lease is £169,710 per annum exclusive. The lease provides for a rent review to the greater of open market rental value or £192,000 per annum exclusive on 28/02/2018 and the greater of open market rental value or £217,245 per annum exclusive on 28/02/2023. The seller will pay the buyer the difference between £169,710 per annum exclusive and £192,000 per annum exclusive from completion of the sale until 27/02/2018. Therefore the property will produce £192,000 per annum exclusive from completion of the sale. (3) The lease provides for a tenant option to determine the lease on 27/02/2023 .
