Let to Kwik-Fit (GB) Limited until 2030 (no breaks)
Open Market Rent Reviews in 2020 and 2025
Approximately 0.13 hectares (0.32 acres) with 13 car parking spaces
Long term residential redevelopment potential (subject to consents)
Neighbouring occupiers include Johnsons the Cleaners and Bathstore
Lot 10
Auction 24th October 2019
Rent £90,000 per Annum Exclusive
Status Sold
Price £1,375,000
Sector Motor Trade/Petrol Station
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
45 miles north-west of Birmingham
45 miles south of Manchester
37 miles south-east of Chester
Roads
M6, A50, A52, A53
Rail
Stoke-on-Trent Railway Station
Air
Birmingham Airport
Manchester Airport
Situation
The property is prominently located on the south side of busy Brunswick Street (A52) and between North Street and Hanover Street, some 500 metres east of Newcastle-under-Lyme town centre. The A52 is a main arterial route between Stoke-on-Trent and Newcastle-under-Lyme. Nearby occupiers include Johnsons the Cleaners and Bathstore.com.
Tenure
Freehold.
Location
Miles
45 miles north-west of Birmingham
45 miles south of Manchester
37 miles south-east of Chester
Roads
M6, A50, A52, A53
Rail
Stoke-on-Trent Railway Station
Air
Birmingham Airport
Manchester Airport
Situation
The property is prominently located on the south side of busy Brunswick Street (A52) and between North Street and Hanover Street, some 500 metres east of Newcastle-under-Lyme town centre. The A52 is a main arterial route between Stoke-on-Trent and Newcastle-under-Lyme. Nearby occupiers include Johnsons the Cleaners and Bathstore.com.
Tenure
Freehold.
Description
The property, a single storey motorist centre, comprises integral office and ancillary accommodation and benefits from an eaves height of approximately 5m/17ft, five roller shutter doors and car parking to the front and side of the property for approximately 13 cars. The property also benefits from a site area of approximately 0.13 hectares (0.32 acres).
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Available from the legal pack at acuitus.co.uk
Description
The property, a single storey motorist centre, comprises integral office and ancillary accommodation and benefits from an eaves height of approximately 5m/17ft, five roller shutter doors and car parking to the front and side of the property for approximately 13 cars. The property also benefits from a site area of approximately 0.13 hectares (0.32 acres).
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Available from the legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/(Reversion)
Ground
Motorist Centre
730.76 sq m
(7,863 sq ft)
KWIK-FIT (GB) LIMITED (1)
25 years from 15/03/2005 on a full repairing and insuring lease (2)
£90,000
15/03/2020 and 15/03/2025 (14/03/2030)
Total
730.76 sq m
(7,863 sq ft)
£90,000
(1) Kwik Fit are experts in automotive repair including tyres, MOT testing, car servicing, exhausts, brakes and air-con. They are the leading fast-fit suppliers of tyres in the country and carry stocks of over 600,000 products in over 600 centres in the UK (Source: www.kwik-fit.com 25/09/2019). For the year ending 31st March 2018, Kwik-Fit (GB) Limited reported a turnover of £481,661,000, pre-tax profits of £54,371,000 and a total net worth of £125,764,000 (Source: Experian 25/09/2019). (2) The lease is subject to a schedule of condition.
