Let to Funeral Services Ltd part of The Co-operative Group (1)
Lease expires 2027 (2) (3)
VAT-free investment
Lot 38
Auction 28th March 2018
Rent
Status Sold
Price £132,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Mapeley
Property Information
Location
Miles
36 miles west of Chester, 76 miles west of Manchester, 26 miles north-east of Caernarfon
Roads
A470, A547, A55
Rail
Colwyn Bay Railway Station
Air
Liverpool John Lennon Airport
Situation
Colwyn Bay is a popular seaside town on the north Wales coast, 36 miles west of Chester and 26 miles north-east of Caernarfon. The property is located in the town centre on Penrhyn Road, close to its junction with Princess Drive. Colwyn Bay Railway Station is located 200 metres to the east. Nearby occupiers include Halifax, Nationwide and Santander amongst a number of local traders.
Tenure
Freehold.
Location
Miles
36 miles west of Chester, 76 miles west of Manchester, 26 miles north-east of Caernarfon
Roads
A470, A547, A55
Rail
Colwyn Bay Railway Station
Air
Liverpool John Lennon Airport
Situation
Colwyn Bay is a popular seaside town on the north Wales coast, 36 miles west of Chester and 26 miles north-east of Caernarfon. The property is located in the town centre on Penrhyn Road, close to its junction with Princess Drive. Colwyn Bay Railway Station is located 200 metres to the east. Nearby occupiers include Halifax, Nationwide and Santander amongst a number of local traders.
Tenure
Freehold.
Description
The property comprises a ground floor shop will ancillary accommodation above.
VAT
VAT is not 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 ground floor shop will ancillary accommodation above.
VAT
VAT is not 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
Ground Basement First Second
Retail Ancillary Ancillary Ancillary
79.8 sq m 18.3 sq m 43.0 sq m 45.4 sq m
(859 sq ft) (197 sq ft) (463 sq m) (489 sq ft)
FUNERAL SERVICES LIMITED t/a Co-op Colwyn Bay Funeralcare (1)
10 years from 26/04/2017 (2) on a full repairing and insuring lease subject to a schedule of condition (3)
£11,000
2022 (2)
Totals
186.5 sq m
(2,008 sq ft)
£11,000
(1) Funeral Services Limited (30808) is a registered society under the Co-op and Community Benefit Societies Act 2014 whose registered office is at 1 Angel Square, Manchester, M60 0AG. VAT registered 403 3146 04. The Co-operative Funeralcare is a trading name of Funeral Services Limited, part of The Co-operative Group (Source: www.co-operativefuneralcare.co.uk). (2) Tenant’s option to break in 2020 and 2022 upon 6 months’ prior notice. (3) Tenant has an option for a new lease for a term of 10 years beginning 26th April 2027. This option can be exercised at any time up to and including 25th January 2027.