McColl's Convenience Store, 222 Congleton Road
Scholar Green
Cheshire
ST7 3HF

Freehold Convenience Store Investment

  • Let to Martin McColl Limited
  • 16.5 year lease from August 2018 (no breaks)
  • 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
    14/Feb/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
Important Auction & Property Update
  • McColl's Convenience Store, 222 Congleton Road<br>Scholar Green<br>Cheshire<br>ST7 3HF
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* More information on the term "price" can be found here

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.

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

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
GroundRetail
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.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    01.02.19
    File Size
    8 MB
    Login to View
  • Catalogue Page
    Updated Date
    22.01.19
    File Size
    545 KB
    View PDF
  • Site Plan
    Updated Date
    22.01.19
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.01.19
    File Size
    143 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George WatkinsGeorge Watkins +44 (0)20 7034 4861george.watkins@acuitus.co.uk
Associate Auctioneers
Savoy Stewart Atlantic House, 351 Oxford Street
London
W1C 2JF
Nicholas Sherling 020 7478 9113ns@savoystewart.co.uk
Seller's Solicitors
Northern & Midland Holdings Sutherland House, 70/78 West Hendon Broadway
London
NW9 7BT
Stephen Goldberg 0208 457 3258stephen@nmholdings.co.uk

Useful Links

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