Co-operative Convenience Food Store 44 Knightcott Road Banwell Somerset BS29 6HF

Co-operative Convenience Food Store
44 Knightcott Road
Banwell
Somerset
BS29 6HF

Freehold Supermarket Investment

Let to The Southern Co-operative Ltd until July 2030 (no breaks)
Five yearly RPI linked minimum rental uplift
Prominent roadside position in a densely populated residential area
Approximate site area of 0.17 hectares (0.43 acres)
Currently producing £68,000 p.a.x. Rising to minimum of £71,469 p.a.x. in 2020
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
26
Auction
22nd October 2015
Rent
£68,000 per Annum Exclusive
Status
Sold
Price
£1,120,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Supermarket Investment

Let to The Southern Co-operative Ltd until July 2030 (no breaks)
Five yearly RPI linked minimum rental uplift
Prominent roadside position in a densely populated residential area
Approximate site area of 0.17 hectares (0.43 acres)
Currently producing £68,000 p.a.x. Rising to minimum of £71,469 p.a.x. in 2020
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 26
Auction 22nd October 2015
Rent £68,000 per Annum Exclusive
Status Sold
Price £1,120,000
Sector
Supermarket/Convenience
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 5 miles east of Weston-Super-Mare, 17 miles south-west of Bristol, 27 miles west of Bath
Roads: A371, M5 (Junction 21)
Rail: Worle Rail
Air: Bristol International Airport

Situation

Banwell is a densely populated village in Somerset, some 5 miles east of Weston-Super-Mare. The property is situated in a prominent roadside location on the northern side of Knightcott Road (A371) and has good links to the M5 Motorway.

Tenure

Freehold.

Location

Miles: 5 miles east of Weston-Super-Mare, 17 miles south-west of Bristol, 27 miles west of Bath
Roads: A371, M5 (Junction 21)
Rail: Worle Rail
Air: Bristol International Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor convenience store with a self-contained first floor residential flat. The site has an approximate site area of 0.27 hectares (0.43 acres) with on-site car parking for some 20 cars.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground First	Retail/Ancillary Residential	343 sq m 65 sq m	(3,700 sq ft) (700 sq ft)	THE SOUTHERN CO-OPERATIVE LTD (1) (t/a The Cooperative Food) (2)	15 years from 14/07/2015 until 13/07/2030 on a full repairing and insuring lease	£68,000	14/07/2020 and 14/07/2025 (3)
Totals		408.7 sq m	(4,400 sq ft)			£68,000 rising to a minimum of £71,469 pa in 2020 and £75,114 pa in 2025

(1) For the year ending January 2015, The Southern Co-Operative Ltd reported a turnover of £350,505,000, pre-tax profits of £2,366,000 and a total net worth of £89,291,000. (Source: www.riskdisk.com 15/09/2015)
(2)The Co-operative Group is the UK’s fifth biggest food retailer operating across the country with almost 2,800 local, convenience and medium size stores (Source: www.co-operative.com 15/09/2015)
(3)The rent reviews are linked to the Retail Price Index subject to a minimum of 1% and a maximum of 4% compounded per annum. The rent will therefore increase to a minimum of £71,469 pa in 2020 and £75,114 pa in 2025.