Let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
Prominent pedestrianised town centre location
VAT-free Investment
Close to Tesco, a multi storey car park and opposite Costa
M&Co in occupation since 1982
Lot 27
Auction 11th July 2018
Rent £52,000 per Annum Exclusive
Status Sold
Price £555,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On the Instructions of M&Co
Property Information
Location
Miles
3 miles north of Portsmouth, 15 miles east of Southampton, 73 miles south of London
Roads
M27, A27, A3, A3(M)
Rail
Cosham Railway Station
Air
Southampton Airport
Situation
Cosham is located 3 miles north of Portsmouth, 15 miles east of Southampton and 73 miles south of London. The town benefits from good road communications, being located close to the M27 and A27, with the A3 2 miles to the east. Cosham railway station provides services to London Waterloo. The property is located in the town centre on the pedestrianised High Street, near its junction with Wayte Street. There are a number of public car parks located close by. Occupiers close by include Costa, Subway, Superdrug, Lloyds, Greggs, Ladbrokes, Halifax, Thomas Cook and Tesco.
Tenure
Freehold.
Location
Miles
3 miles north of Portsmouth, 15 miles east of Southampton, 73 miles south of London
Roads
M27, A27, A3, A3(M)
Rail
Cosham Railway Station
Air
Southampton Airport
Situation
Cosham is located 3 miles north of Portsmouth, 15 miles east of Southampton and 73 miles south of London. The town benefits from good road communications, being located close to the M27 and A27, with the A3 2 miles to the east. Cosham railway station provides services to London Waterloo. The property is located in the town centre on the pedestrianised High Street, near its junction with Wayte Street. There are a number of public car parks located close by. Occupiers close by include Costa, Subway, Superdrug, Lloyds, Greggs, Ladbrokes, Halifax, Thomas Cook and Tesco.
Tenure
Freehold.
Description
The property comprises a ground floor shop together with first floor storage and staff accommodation. The property benefits from a rear yard to park two cars.
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 together with first floor storage and staff accommodation. The property benefits from a rear yard to park two cars.
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 First
Retail Ancillary
469 sq m 124 sq m
(5,048 sq ft) (1,335 sq ft)
MACKAYS STORES LIMITED t/a M&Co (2)
10 years from completion on a full repairing and insuring lease subject to a schedule of condition (1)
£52,000
2023
Total
593 sq m
(6,383 sq ft)
£52,000
1) Tenant’s option to determine in the fifth year. (2) For the year ended 24th February 2017, Mackays Stores Limited reported a turnover of £165,611,000, pre-tax profits of £1,100,000 and a total net worth of £36,441,000 (Source: Experian Group 12/06/2018). Mackays Stores Limited is one of the largest privatelyowned fashion retailers in the UK. Since inception in the 1960s, M&Co now trades from over 300 stores nationwide with a further 22 stores overseas.
