Let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
Prominent town centre location
VAT-free Investment
Close to Castle Place Shopping Centre and car park
M&Co in occupation since 1988
Lot 53
Auction 11th July 2018
Rent £45,000 per Annum Exclusive
Status Sold
Price £480,000
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
8 miles south east of Bath
11 miles south of Chippenham
24 miles east of Bristol
28 miles north of Salisbury
Roads
A360, A350
Rail
Trowbridge Railway Station
Air
Bristol Airport
Situation
Trowbridge, the county town of Wiltshire, is located 8 miles south-east of Bath, 24 miles east of Bristol and 28 miles north of Salisbury. The M4 is 15 miles to the north via the A350. The property is located in the town centre on Silver Street, close to its junction with Market Place and Fore Street. Castle Place Shopping Centre is located 100 metres to the west. Occupiers close by include Santander, Coral, McColl’s, Coventry Building Society, WHSmith and Boots.
Tenure
Freehold.
Location
Miles
8 miles south east of Bath
11 miles south of Chippenham
24 miles east of Bristol
28 miles north of Salisbury
Roads
A360, A350
Rail
Trowbridge Railway Station
Air
Bristol Airport
Situation
Trowbridge, the county town of Wiltshire, is located 8 miles south-east of Bath, 24 miles east of Bristol and 28 miles north of Salisbury. The M4 is 15 miles to the north via the A350. The property is located in the town centre on Silver Street, close to its junction with Market Place and Fore Street. Castle Place Shopping Centre is located 100 metres to the west. Occupiers close by include Santander, Coral, McColl’s, Coventry Building Society, WHSmith and Boots.
Tenure
Freehold.
Description
The property comprises a ground floor shop with first floor staff and storage accommodation. The second floor is void and not currently used.
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 with first floor staff and storage accommodation. The second floor is void and not currently used.
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 Second
Sales Ancillary Void
390 sq m 275 sq m 62 sq m
(4,202 sq ft) (2,964 sq ft) (674 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)
£45,000
2023
Total
728 sq m
(7,840 sq ft)
£45,000
(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 privately owned 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.
