44a Selby Road Wykebeck Leeds West Yorkshire LS9 0JH

44a Selby Road
Wykebeck
Leeds
West Yorkshire
LS9 0JH

Freehold Convenience Store Investment

Let to Martin McColl Limited
16.5 year lease from May 2018 (no breaks)
2% per annum fixed rental uplifts compounded throughout term
Rent increases to £45,495 pa in November 2024 and £50,230 pa in November 2029
Recently re-fitted large store – approximately 9,743 sq ft
Predominantly residential location 3 miles east of Leeds city centre

Lot
42
Auction
18th October 2018
Rent
£41,206 per Annum Exclusive
Status
Sold
Price
£687,500
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Important Update Interested?

Expand
Photos
Map

Freehold Convenience Store Investment

Let to Martin McColl Limited
16.5 year lease from May 2018 (no breaks)
2% per annum fixed rental uplifts compounded throughout term
Rent increases to £45,495 pa in November 2024 and £50,230 pa in November 2029
Recently re-fitted large store – approximately 9,743 sq ft
Predominantly residential location 3 miles east of Leeds city centre

Lot 42
Auction 18th October 2018
Rent £41,206 per Annum Exclusive
Status Sold
Price £687,500
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 3 miles east of Leeds city centre; 11 miles east of Bradford
Roads: A61, A63, A64, M1
Rail: Cross Gates Railway Station
Air: Leeds/Bradford Airport

Situation

Wykebeck is a predominantly residential suburb of Leeds some three miles east of Leeds city centre. The property occupies a prominent position fronting Selby Road, with a number of independent retailers being located close by.

Tenure

Freehold.

Location

Miles: 3 miles east of Leeds city centre; 11 miles east of Bradford
Roads: A61, A63, A64, M1
Rail: Cross Gates Railway Station
Air: Leeds/Bradford Airport

Situation

Tenure

Freehold.

Description

The property comprises a recently refitted ground floor convenience store with ancillary accommodation on the first floor (void).

VAT

VAT is applicable to this lot.

EPC

Description

The property comprises a recently refitted ground floor convenience store with ancillary accommodation on the first floor (void).

VAT

VAT is applicable to this lot.

EPC

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground Ground First	Retail Ancillary Void	275.36 sq m 263.10 sq m 366.69 sq m	(2,964 sq ft) (2,832 sq ft) (3,947 sq ft)	MARTIN McCOLL LIMITED (1)	16.5 years from 18/05/2018 until 17/11/2032 on a full repairing and insuring lease	£41,206 (2) rising to £45,495 in November 2024 rising to £50,230 in November 2029	November 2019 and 5 yearly thereafter. 2% per annum fixed rental uplifts compounded throughout the term
Total		905.15 sq m	(9,743 sq ft)			£41,206 (2)

(1) McColl’s trade from over 1,600 stores throughout the UK. For the year ending 27th November 2016, Martin McColl Limited reported a turnover of £518,736,000, pre-tax profits of £25,631,000 and a total net worth of £111,606,000 (Source: www.mccolls.co.uk and Experian Group 10/08/2018).
(2) The current rent passing is £40,000 per annum. The vendor has agreed to adjust the completion monies so that the property will effectively produce £41,206 per annum from completion of the sale until the first rent review in November 2019.