MKM and Greggs , Cook Way North West Industrial Estate Peterlee County Durham SR8 2HY

MKM and Greggs , Cook Way
North West Industrial Estate
Peterlee
County Durham
SR8 2HY

Freehold Modern Trade Counter Investment

  • Let to M.K.M Building Supplies Limited and Greggs Plc
  • Approximately 0.59 hectares (1.45 acres) with a site coverage of 17%
  • Established Trade Counter location with good access to the A19 motorway
  • Benefits from an extensive yard area and on-site car parking
  • Fixed Minimum Rental Increases (2) (4)
  • Producing £160,010 per annum exclusive (Subject to notes 2&4)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    29
  • Auction
    16th February 2017
  • Rent
    £160,010 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    Trade Counter
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Modern Trade Counter Investment

  • Let to M.K.M Building Supplies Limited and Greggs Plc
  • Approximately 0.59 hectares (1.45 acres) with a site coverage of 17%
  • Established Trade Counter location with good access to the A19 motorway
  • Benefits from an extensive yard area and on-site car parking
  • Fixed Minimum Rental Increases (2) (4)
  • Producing £160,010 per annum exclusive (Subject to notes 2&4)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 29
  • Auction 16th February 2017
  • Rent
  • Status Withdrawn Post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 east of Durham, 11 miles south of Sunderland, 20 miles south of Newcastle
Roads
A19, B1320
Rail
Seaham Railway Station
Air
Newcastle Airport
Situation

The property is situated on the south side of Cook Way, accessed via the A19 and B1320, and forms part of the main estate road of the North West Industrial Estate. The property is also within two miles of the main Castle Dene shopping centre and town centre amenities of Peterlee.

Tenure

Freehold.

Location
Miles
10 miles east of Durham, 11 miles south of Sunderland, 20 miles south of Newcastle
Roads
A19, B1320
Rail
Seaham Railway Station
Air
Newcastle Airport
Situation

The property is situated on the south side of Cook Way, accessed via the A19 and B1320, and forms part of the main estate road of the North West Industrial Estate. The property is also within two miles of the main Castle Dene shopping centre and town centre amenities of Peterlee.

Tenure

Freehold.

Description

The property comprises two modern units. Unit 1 benefits from an eaves height of approximately 6m/20ft, an extensive mezzanine level, and two vehicle access loading doors. Unit 2 benefits from its own car park as well as a single pitch roof with an eaves height of approximately 4m/14ft. The total site extends to approximately 0.59 hectares (1.45 acres) with an approximate site coverage of 17%. Other occupiers on the estate include Barclays Bank, Caterpillar, Profins, and Saica.

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 two modern units. Unit 1 benefits from an eaves height of approximately 6m/20ft, an extensive mezzanine level, and two vehicle access loading doors. Unit 2 benefits from its own car park as well as a single pitch roof with an eaves height of approximately 4m/14ft. The total site extends to approximately 0.59 hectares (1.45 acres) with an approximate site coverage of 17%. Other occupiers on the estate include Barclays Bank, Caterpillar, Profins, and Saica.

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

Unit Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
1 Trade
Counter
930.22 sq m
(10,012 sq ft)
M.K.M BUILDING
SUPPLIES LIMITED
(1)
15 years from
19/04/2007
£140,809 (2) 19/04/2017
(18/04/2022)
2 Bakery
89.10 sq m
(959 sq ft)
GREGGS PLC (3) 15 years from
26/02/2007
£19,201 (4) 26/02/2017 (4)
(25/02/2022)
Totals  
1,019.32 sq m
(10,971 sq ft)
    £160,010  

(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 UKs 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 £124,455 per annum exclsuive. The lease provides for a rent review to the greater of open market rental value or £140,809 per annum exclusive on 19/04/2017. The seller will pay the buyer the difference between £124,455 per annum exclusive and £140,809 per annum exclusive from completion of the sale until 18/04/2017. Therefore Unit 1 of the property will produce £140,809 per annum exclusive from the completion of sale.
(3) For the year ending 2nd January 2016 Greggs Plc reported a turnover of £835,749,000, pre tax profits of £73,028,000 and a total net worth of £256,026,000. (Source: Riskdisk 11/01/2017).
(4) As to unit 2, t he current rent reserved under the terms of the lease is £16,971 per annum exclusive. The lease provides for fixed minimum increases in rent to the greater of open market rental value or £19,201 per annum exclusive on 26/02/ 2017.

Property Documents

  • Site Plan
    Updated Date
    25.01.17
    File Size
    63 KB
    View PDF
  • Catalogue Page
    Updated Date
    25.01.17
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Peter CunliffePeter Cunliffe +44 (0)20 7034 4850peter.cunliffe@acuitus.co.uk
Seller's Solicitors
Osborne Clarke Solicitors 2 Temple Back East, Temple Quay
Bristol
BS1 6EG
Kozeta Smith +44(0)117 917 4400kozeta.smith@osborneclarke.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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