Entirely let to Martin McColl Limited until 2034 (no breaks)
5 year fixed rental increases, the next in 2024
Includes a self-contained 4 bedroom flat
Lot 37
Auction 12th February 2020
Rent £28,706 per Annum Exclusive
Status Sold
Price £365,000
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place Marble Arch London W1H 7TN
Property Information
Location
Miles
10 miles south-west of Leeds
6 miles south of Bradford
5 miles north-west of Dewsbury
Roads
A643, M62 (Junctions 25 and 26)
Air
Leeds Bradford Airport
Situation
The property is situated in a predominantly residential location some 1 mile east of Cleckheaton on the north side of Spen Lane (A643), and forms part of a local neighbourhood parade of shops.
Tenure
Freehold.
Location
Miles
10 miles south-west of Leeds
6 miles south of Bradford
5 miles north-west of Dewsbury
Roads
A643, M62 (Junctions 25 and 26)
Air
Leeds Bradford Airport
Situation
The property is situated in a predominantly residential location some 1 mile east of Cleckheaton on the north side of Spen Lane (A643), and forms part of a local neighbourhood parade of shops.
Tenure
Freehold.
Description
The property comprises a ground floor convenience store with a post office together with a first floor self-contained 4 bedroom flat accessed from the side, which has been sublet.
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 comprises a ground floor convenience store with a post office together with a first floor self-contained 4 bedroom flat accessed from the side, which has been sublet.
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 First
Retail Residential
174.5 sq m
(1,878 sq ft) 4 bedroom Flat
MARTIN McCOLL LIMITED (1)
20 years from 10/02/2014 on a full repairing and insuring lease
£28,706
10/02/2024 and 10/02/2029 (2) (09/02/2034)
TotalCommercialFloor Area
175.5 sq m
(1,878 sq ft)
£28,706
(1) For the year ending 25th November 2018, Martin McColl Limited reported a turnover of £835,333,000, pre-tax profits of £34,718,000 and a total net worth of £71,797,000 (Source: Experian Group 8/01/2020). McColl's operates around 1,550 convenience stores and newsagents across England. (2) The lease provides for fixed rent increases every fifth year of the the term. In 2024, the rent will increase to £31,694 p.a.x. and in 2029 will increase to £34,993 p.a.x.
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.
