McColls, High Street
Box
Corsham
Wiltshire
SN13 8NQ

Freehold Convenience Store Investment

  • Let to Martin McColl Limited with Plc guarantor
  • 16.5 year lease from 21st February 2019 (no breaks)
  • 2% per annum fixed rental uplifts compounded throughout term
  • Rent increases to £22,747 pa on 21st August 2025 and £25,115 pa on 21st August 2030
  • On-site car parking
  • Affluent location, 6 miles north-east of Bath
  • Lot
    11
  • Auction
    04/Apr/2019
  • Rent
    £20,603 per Annum Exclusive
  • Status
    Available
  • Price*
    £335,000 - £355,000
  • Sector
    Supermarket
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Auction & Property Update
  • McColls, High Street<br>Box<br>Corsham<br>Wiltshire<br>SN13 8NQ
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* More information on the term "price" can be found here

Property Information

Location
Miles
3 miles south-west of Corsham
6 miles north-east of Bath
18 miles east of Bristol
Roads
A4, A36, A46, A350, M4 (J18)
Rail
Bath Spa
Air
Bristol Airport
Situation

Box is an affluent village in Wiltshire, 3 miles south-west of Corsham and 6 miles north-east of Bath. The property is situated in a prominent location on the eastern side of High Street, in a predominantly residential area next to the bus station. The property also benefits from being located very close to Box Church of England Primary School.

Tenure

Freehold.

Description

The property is arranged on ground floor only to provide a convenience store. There is parking for approximately 3 cars adjacent to the convenience store.

VAT

VAT is applicable to this lot.

EPC

Band D

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
GroundRetail/Ancillary
261.23 sq m
(2,812 sq ft)
MARTIN McCOLL
LIMITED (1) with a
guarantee from
McCOLL''S RETAIL
GROUP PLC (2)
16.5 years from
21/02/2019 until
20/08/2035 on a
full repairing
and insuring
lease
£20,603 (3)21/08/2020 and
5 yearly
thereafter. 2%
per annum fixed
rental uplifts
compounded
throughout the
term
Total
261.23 sq m
(2,812 sq ft)
  £20,603 (3) 

(1) For the year ending 26th Novermber 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: Experian Group 06/03/2019). The first McColl’s store was opened in 1901 and is now a leading neighbourhood retailer with around 1,550 convenience stores and newsagents across England, Scotland and Wales (Source: www.mccolls.co.uk 06/03/2019).
(2) For the year ending 26th November 2017, McColl’s Retail Group Plc reported a turnover of £1,131,777,000 and pre-tax profits of £18,406,000 (Source: Experian Group 06/03/2019).
(3) The current passing rent is £20,000 per annum. The vendor has agreed to adjust the completion monies so that the property will effectively produce £20,603 per annum from completion of the sale until the first rent review in 2020.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    18.03.19
    File Size
    11 MB
    Login to View
  • Site Plan
    Updated Date
    13.03.19
    File Size
    978 KB
    View PDF
  • Catalogue Page
    Updated Date
    13.03.19
    File Size
    512 KB
    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 GoucherGeorge Goucher 020 7034 4860george.goucher@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 3250stephen@nmholdings.co.uk

Useful Links

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