2% per annum fixed rental uplifts compounded throughout term
Rent increases to £36,964 pa in February 2025 and £40,812 pa in February 2030
Includes large customer car park to the rear
Predominantly residential location in affluent Staffordshire village
Lot 4
Auction 14th February 2019
Rent £33,480 per Annum Exclusive
Status Sold Prior
Price
Sector Supermarket
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
9 miles north of Stoke-on-Trent
29 miles south of Manchester
Roads
A34, A500, M6 (Junction 16)
Rail
Kidsgrove Railway Station
Air
Manchester Airport
Situation
The property is situated in a predominantly residential location some 9 miles north of toke-on-Trent, in the affluent village of Scholar Green. The property occupies a prominent position fronting Congleton Road North (A34), which connects Manchester to Birmingham. Scholar Green Primary School is located to the rear.
Tenure
Freehold.
Location
Miles
9 miles north of Stoke-on-Trent
29 miles south of Manchester
Roads
A34, A500, M6 (Junction 16)
Rail
Kidsgrove Railway Station
Air
Manchester Airport
Situation
The property is situated in a predominantly residential location some 9 miles north of toke-on-Trent, in the affluent village of Scholar Green. The property occupies a prominent position fronting Congleton Road North (A34), which connects Manchester to Birmingham. Scholar Green Primary School is located to the rear.
Tenure
Freehold.
Description
The property comprises a ground floor convenience store with ancillary accommodation to the rear. The property benefits from a large customer car park to the rear.
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 a ground floor convenience store with ancillary accommodation to the rear. The property benefits from a large customer car park to the rear.
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
Ground
Retail Ancillary
193.52 sq m 62.24 sq m
(2,083 sq ft) (670 sq ft)
MARTIN McCOLL LIMITED (1)
16.5 years from 21/08/2018 until 20/02/2035 on a full repairing and insuring lease
£33,480 (2)
February 2025 and 5 yearly thereafter. 2% per annum fixed rental uplifts compounded throughout the term
Total
255.76 sq m
(2,753 sq ft)
£33,480 (2)
(1) McColl’s trades from over 1,600 stores throughout the UK. For the year ending 26th November 2017, Martin McColl Limited reported a turnover of £713,391,000, pre-tax profits of £27,168,000 and a total net worth of £42,850,000 (Source: www.mccolls.co.uk and Experian Group 08/01/2019). (2) The current rent passing is £32,500 per annum. The vendor has agreed to adjust the completion monies so that the property will effectively produce £33,480 per annum from completion of the sale until the first rent review in February 2020.
