Kwik Fit 6 Chesterfield Road South Mansfield Nottinghamshire NG19 7AD

Kwik Fit
6 Chesterfield Road South
Mansfield
Nottinghamshire
NG19 7AD

Freehold Tyre Depot Investment

Entirely let to Kwik-Fit (GB) Limited (guaranteed by Kwik-Fit Holdings Limited) until 2032 (no breaks)
Imminent rent review to the greater of £71,227.56 pa or OMRV in March 2017 (3)
Prominent location on busy Chesterfield Road South (A6609)
Approximate site area of 0.22 hectares (0.55 acres)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
55
Auction
30th March 2017
Rent
£71,227 per Annum Exclusive
Status
Sold
Price
£1,155,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Tyre Depot Investment

Entirely let to Kwik-Fit (GB) Limited (guaranteed by Kwik-Fit Holdings Limited) until 2032 (no breaks)
Imminent rent review to the greater of £71,227.56 pa or OMRV in March 2017 (3)
Prominent location on busy Chesterfield Road South (A6609)
Approximate site area of 0.22 hectares (0.55 acres)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 55
Auction 30th March 2017
Rent £71,227 per Annum Exclusive
Status Sold
Price £1,155,000
Sector
Motor Trade, Petrol Station
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 14 miles north of Nottingham, 22 miles south-east of Sheffield, 30 miles west of Lincoln
Roads: A6009, A60, M1 (Junction 28)
Rail: Mansfield Rail
Air: Nottingham City Airport

Situation

Mansfield is a popular market town located midwaybetween Sheffield and Nottingham, benefitting from good communication links, being just 7 miles east of the M1 Motorway (Junction 28). The property occupies a prominent roadside pitch fronting Chesterfield Road South and is a short distance from the Four Seasons Shopping Centre, which houses a number of national occupiers including Debenhams, Primark and Boots. Other nearby occupiers include Wickes, Tesco Extra and Mr Tyre

Tenure

Freehold.

Location

Miles: 14 miles north of Nottingham, 22 miles south-east of Sheffield, 30 miles west of Lincoln
Roads: A6009, A60, M1 (Junction 28)
Rail: Mansfield Rail
Air: Nottingham City Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor tyre depot with reception area and storage/staff accommodation. The property also benefits from a forecourt to park approximately ten cars, roller shutter doors and an approximate site area of 0.22 hectares (0.55 acres).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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	Tyre Depot	1,511.48 sq m	(16,270 sq ft)	KWIK-FIT (GB) LIMITED (GUARANTEED BY KWIK-FIT HOLDINGS LIMITED) (1) (2)	25 years from 20/03/2007 until 19/03/2032 on a full repairing and insuring lease	£71,227.56 (3)	20/03/2017 20/03/2022 20/03/2027
Total		1,511.48 sq m	(16,270 sq ft)			£71,227.56 (3)

(1) For the year ending 31st March 2016, Kwik-Fit (GB) Limited reported a turnover of £467,340,000, pre-tax profits of £21,308,000 and a totalnet worth of £63,648,000 (Source: Experian Group - 20/02/2017). For the year ending 31st March 2016, Kwik-Fit Holdings Limited reported a total net worth of £28,538,000 (Source: Experian Group - 20/02/2017).
(2) Please note the tenant has the option to renew the lease for a further term of 15 years from the expiry of the lease. For further information, please refer to the legal pack.
(3) For the purpose of clarification, the current rent is £61,441.52 per annum with a rent review on 20th March 2017 to the greater of £71,227.56 per annum or OMRV. This March 2017 review is imminent. The rent reviews thereafter will be reviewed to OMRV.