Approximately 75% of income secured against Kwik-Fit Properties Limited and Wolseley UK Ltd
Approximate site area of 0.60 hectares (1.48 acres)
Six Week Completion Period Available
Approximately 8 miles from Junction 14 of the M1 and 1 mile from the A5
Nearby occupiers include Murco Petrol Station, Premier Convenience Store, RailCare, MK Car Store and The Radcliffe School
Lot 41
Auction 26th May 2011
Rent £92,500 per Annum Exclusive
Status Sold Post
Price
Sector Motor Trade, Petrol Station
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
4 miles north west of Milton Keynes, 15 miles south of Northampton
Roads
A422, A5, M1
Rail
Wolverton Railway Station
Air
Luton Airport
Situation
The property is prominently situated on the northern side of Stratford Road, opposite its junction with Christchurch Grove, some 0.5 miles west of the town centre. Stratford Road leads directly to the A5, the major trunk road providing access to the M1 and M6. Nearby occupiers include Murco Petrol Station, Premier Convenience Store, RailCare, MK Car Store and The Radcliffe School.
Tenure
Freehold.
Location
Miles
4 miles north west of Milton Keynes, 15 miles south of Northampton
Roads
A422, A5, M1
Rail
Wolverton Railway Station
Air
Luton Airport
Situation
The property is prominently situated on the northern side of Stratford Road, opposite its junction with Christchurch Grove, some 0.5 miles west of the town centre. Stratford Road leads directly to the A5, the major trunk road providing access to the M1 and M6. Nearby occupiers include Murco Petrol Station, Premier Convenience Store, RailCare, MK Car Store and The Radcliffe School.
Tenure
Freehold.
Description
The property comprises three ground floor trade counter/motor trade units with an extensive yard and car parking area totalling an approximate site area of 0.60 hectares (1.48 acres).
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 three ground floor trade counter/motor trade units with an extensive yard and car parking area totalling an approximate site area of 0.60 hectares (1.48 acres).
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
A
Tyre Depot
366.96 sq m
(3,950 sq ft)
KWIK-FIT PROPERTIES LIMITED (1)
25 years from 04/06/1999 until 03/06/2024
£40,000
04/06/2014
B
Trade Counter
353.03 sq m
(3,800 sq ft)
WOLSELEY UK LIMITED (2) (t/a Plumb Center/Parts Center)
15 years from 09/08/1999 until 08/08/2014
£28,500
(09/08/2014)
C
Office
264.77 sq m
(2,850 sq ft)
SAXON BRIDGE AUTOMOTIVE LTD (3)
10 years from 12/08/2009 until 11/08/2019 (4)
£24,000
(12/04/2014)
Totals
987.76 sq m
(10,600 sq ft)
£92,500
(1) For the year ending 31st December 2009, Kwik-Fit Properties Limited 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 12/04/2011) (2) Wolseley UK Ltd is a FTSE 100 company, the largest specialist trade distributor of plumbing and heating products to professional contractors and a leading supplier of building materials to the professional market. They operate from 4,400 branches in 25 countries worldwide and have 47,000 employees. (Source: www.wolseley.com 12/04/2011). (3) Established in 2005, Saxon Bridge is a Milton Keynes based family-run used car dealership and one of only two car dealerships in Milton Keynes that are Trading Standards approved. (Source: www.saxonbridge.com 12/04/2011) (4) Under the terms of the lease, both the tenant and landlord have an option to determine the lease on the fifth anniversary of the term, subject to 6 months' notice.
Contacts
Seller's Solicitors
Howard Kennedy Solicitors 1 London Bridge London SE1 9BG
