Entirely let to Kwik-Fit Properties Ltd (guaranteed by Kwik-Fit Holdings Limited) until 2027 (no breaks) (t/a Tyre City)
Potential long term residential redevelopment (subject to consents)
Forecourt with parking for approximately 12 cars
Prominent position fronting Stafford Street (B4210)
Total site area of approximately 0.17 hectares (0.42 acres) with a site coverage of approximately 27%
Lot 31
Auction 11th December 2019
Rent £44,395 per Annum Exclusive
Status Sold
Price £615,000
Sector Motor Trade/Petrol Station
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
9 miles north of Birmingham
41 miles west of Leicester
48 miles south-west of Nottingham
Roads
A34, A4148, M6 (Junction 10)
Rail
Walsall Rail
Air
Birmingham International Airport
Situation
The property is situated approximately half a mile north of Walsall town centre, occupying a prominent roadside pitch at the junction of Stafford Street (B4210) and Proffitt Street. The M6 Motorway (Junction 10) is approximately 1 mile to the west. Stafford Street comprises a small retail parade, as well as a number of units occupied by a range of local retailers.
Tenure
Freehold.
Location
Miles
9 miles north of Birmingham
41 miles west of Leicester
48 miles south-west of Nottingham
Roads
A34, A4148, M6 (Junction 10)
Rail
Walsall Rail
Air
Birmingham International Airport
Situation
The property is situated approximately half a mile north of Walsall town centre, occupying a prominent roadside pitch at the junction of Stafford Street (B4210) and Proffitt Street. The M6 Motorway (Junction 10) is approximately 1 mile to the west. Stafford Street comprises a small retail parade, as well as a number of units occupied by a range of local retailers.
Tenure
Freehold.
Description
The property comprises a single storey motorist centre benefitting from vehicle bays with shutter doors and forecourt with parking for approximately 12 cars. The property has a total site area of approximately 0.17 hectares (0.42 acres) with a site coverage of approximately 27%. The property may be suitable for long term residential redevelopment (subject to consents).
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D. See legal pack at acuitus.co.uk
Description
The property comprises a single storey motorist centre benefitting from vehicle bays with shutter doors and forecourt with parking for approximately 12 cars. The property has a total site area of approximately 0.17 hectares (0.42 acres) with a site coverage of approximately 27%. The property may be suitable for long term residential redevelopment (subject to consents).
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D. See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground
Motorist Centre
414.10 sq m
(4,457 sq ft)
KWIK-FIT PROPERTIES LTD guaranteed by Kwik-Fit Holdings Limited t/a Tyre City (1) (2)
30 years from 22/12/1997 until 21/12/2027 on a full repairing and insuring lease
£44,395
22/12/2022
Total
414.10 sq m
(4,457 sq ft)
£44,395
(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 29/10/2019). (2) Kwik-Fit Holdings Limited was incorporated in July 1940 and is rated by Experian as 'Very Low Risk' and for the year ending 31st March 2018, reported a pre-tax profit of negative £50,000 and total net worth of £28,510,000 (Source: Experian Group 29/10/2019).
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
