Let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
Prominent town centre location
VAT-free Investment
Part first floor used as a café
M&Co in occupation since 1982
Lot 82
Auction 11th July 2018
Rent
Status Sold
Price £430,000
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
14 miles north of Newcastle
21 miles north of Sunderland
12 miles south of Amble
6 miles east of Morpeth
Roads
A1, A1068, A189
Rail
Ashington Railway Station
Air
Newcastle Airport
Situation
Ashington is located 14 miles north of Newcastle, 21 miles north of Sunderland, 12 miles south of Amble and 17 miles north-east of Newcastle Airport. The property is located in the town centre on Station Road, close to its junction with John Street. There is a public car park to the rear of the property. Occupiers nearby include Coral, Argos, Wilko, Holland & Barrett, Boots, Savers, Greggs, Heron Foods and O2
Tenure
Freehold.
Location
Miles
14 miles north of Newcastle
21 miles north of Sunderland
12 miles south of Amble
6 miles east of Morpeth
Roads
A1, A1068, A189
Rail
Ashington Railway Station
Air
Newcastle Airport
Situation
Ashington is located 14 miles north of Newcastle, 21 miles north of Sunderland, 12 miles south of Amble and 17 miles north-east of Newcastle Airport. The property is located in the town centre on Station Road, close to its junction with John Street. There is a public car park to the rear of the property. Occupiers nearby include Coral, Argos, Wilko, Holland & Barrett, Boots, Savers, Greggs, Heron Foods and O2
Tenure
Freehold.
Description
The property comprises a ground floor shop together with first floor sales and café. The basement provides further sales and the second floor storage accommodation.
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 sales and café. The basement provides further sales and the second floor storage accommodation.
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.
10 years from completion on a full repairing and insuring lease subject to a schedule of condition (1)
£48,000
2023 (1)
Total
1,160 sq m
(12,486 sq ft)
£48,000
(1) Tenant’s option to determine in the 5th year. (2) For 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.