Freehold Retail Investment with Fixed Rental Increases
Let to Martin McColl Limited until 2032
2% per annum compounded rental increases
Prominent and well located retail site & within 600m of 3 school
Neighbouring occupiers include KFC, Boots Pharmacy and William Hill
Orell town centre car park is located immediately at the rear of the property
Vat-Free Investment
Lot 29
Auction 28th October 2020
Rent £27,602 per Annum Exclusive
Status Withdrawn Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
2 miles west of Wigan
18 miles north-east of Liverpool
20 miles east of Manchester
Roads
A557, M6, M58
Rail
Orrell Railway Station
Air
Manchester International Airport
Situation
Orrell is approximately 2 miles west of Wigan town centre at the junction of the M6 and the M58 motorways. The property is prominently situated on the east side of Fleet Street, close to the busy junction with Ormskirk Road (A577), with neighbouring occupiers including KFC, Boots Pharmacy and William Hill.
Tenure
Freehold.
Location
Miles
2 miles west of Wigan
18 miles north-east of Liverpool
20 miles east of Manchester
Roads
A557, M6, M58
Rail
Orrell Railway Station
Air
Manchester International Airport
Situation
Orrell is approximately 2 miles west of Wigan town centre at the junction of the M6 and the M58 motorways. The property is prominently situated on the east side of Fleet Street, close to the busy junction with Ormskirk Road (A577), with neighbouring occupiers including KFC, Boots Pharmacy and William Hill.
Tenure
Freehold.
Description
The property comprises a detached building with retail accommodation on the ground floor and ancillary accommodation in the basement. Orrell town centre car park is located immediately behind the property.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See Legal pack at www.acuitus.co.uk
Description
The property comprises a detached building with retail accommodation on the ground floor and ancillary accommodation in the basement. Orrell town centre car park is located immediately behind the property.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See Legal pack at www.acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground Basement
Retail Ancillary
103.86 sq m 84.91 sq m
(1,118 sq ft) (914 sq ft)
MARTIN MCCOLL LIMITED (1) (Not in occupation)
20 years from 16/04/2012 until 2032 on a full repairing and insuring lease (2)
£27,602
16/04/2022 and 5 yearly (fixed rental increases at 2% per annum compounded)
Total
188.77 sq m
(2,032 sq ft)
£27,602
(1) For the year ending 25 November 2018, Martin McColl Limited reported a turnover of £835,333,000, pre-tax profits of £34,718,000 and shareholders funds of £218,271,000 (Source: SmartSearch 26/08/2020) With around 1,400 convenience stores and newsagents across England, Scotland and Wales (Source: www.mccolls.co.uk) (2) The lease provides for 5 yearly rent reviews with fixed rental increases at 2% per annum compounded.
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.
