Convenience Store let to Kenmare Estates Limited until June 2036 (No breaks)
Guaranteed by The Midcounties Co-operative Limited
Retail unit trading as Lakeside Cafe
The property benefits from around 18 car parking spaces to the front and rear
Long Term Redevelopment Potential (Subject to Consent)
Comprising a total of 6,553 sq ft on approximate site area 0.48 acres (0.19 hectares)
Low site coverage of 30%
Popular Residential suburb. 2 miles east of Worcester City Centre
Lot 13
Auction 9th May 2024
Rent £64,000 per Annum Exclusive
Status Available
Guide* £925,000+
Sector Supermarket
Auction Venue Live Streamed Auction
Property Information
Location
Miles
25 miles south-west of Birmingham, 27 miles north of Cheltenham, 60 miles north-east of Bristol
Roads
A38, A44, A449, A4440, M5 (Junction 6)
Rail
Worcester Foregate Street, Worcester Shrub Hill Train Stations
Air
Birmingham Airport
Situation
Worcester is a popular Cathedral and University City located 25 miles south-west of Birmingham, 27 miles north of Cheltenham and 60 miles north-east of Bristol. The property is prominently located on the east side of Ambleside Drive, close to its junction with Trout Beck Drive, situated in a predominantly residential area. The property benefits from excellent communication links being within close proximity to A44 and M5 (Junction 6), which links to M42 and M50 motorways. Nearby occupiers include Domino's, Coral and a number of independent traders.
Tenure
Freehold.
Location
Miles
25 miles south-west of Birmingham, 27 miles north of Cheltenham, 60 miles north-east of Bristol
Roads
A38, A44, A449, A4440, M5 (Junction 6)
Rail
Worcester Foregate Street, Worcester Shrub Hill Train Stations
Air
Birmingham Airport
Situation
Worcester is a popular Cathedral and University City located 25 miles south-west of Birmingham, 27 miles north of Cheltenham and 60 miles north-east of Bristol. The property is prominently located on the east side of Ambleside Drive, close to its junction with Trout Beck Drive, situated in a predominantly residential area. The property benefits from excellent communication links being within close proximity to A44 and M5 (Junction 6), which links to M42 and M50 motorways. Nearby occupiers include Domino's, Coral and a number of independent traders.
Tenure
Freehold.
Description
The property comprises a large site of some 0.48 acres (0.19 hectares) upon which is convenience store comprising Retail Accommodation on the ground with ancillary accommodation in the basement. The first floor has been sealed off by the tenant and is not currently accessible. The property also comprises an adjoining Retail unit currently operating as a Café. The property benefits from around 18 car parking spaces to the front and rear.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C
Description
The property comprises a large site of some 0.48 acres (0.19 hectares) upon which is convenience store comprising Retail Accommodation on the ground with ancillary accommodation in the basement. The first floor has been sealed off by the tenant and is not currently accessible. The property also comprises an adjoining Retail unit currently operating as a Café. The property benefits from around 18 car parking spaces to the front and rear.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas Approx sq m
Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
Rent Review
Unit 1
Ground Basement First
Convenience Store Ancillary Ancillary
316.60 106.70 86.00
(3,408) (1,149) (926)
KENMARE ESTATES LIMITED with a guarantee from THE MIDCOUNTIES CO-OPERATIVE LIMITED
20 years from 10/06/2016 (2)
£49,000
10/06/2026 and five yearly thereafter
Unit 2
Ground
Café/Ancillary
99.50
(1,071)
AN INDIVIDUAL (t/a The Lakeside Cafe)
5 years from 14/10/2019
£15,000
Total Approximate Floor Area.
608.80
(6,553)
£64,000
(1) For the year ending 28/01/2023, The Midcounties Co-operative Limited reported a turnover of £802,891,000, a pre-tax loss of £4,868,000 and a net worth of £120,018,000 (www.midcounties.coop/legal/corporate-info/reports--accounts/) (2) The repairing obligations are subject to limitations - please see lease in legal pack.
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.
