McColl's Convenience Store, 222 Congleton Road Scholar Green Cheshire ST7 3HF

McColl's Convenience Store, 222 Congleton Road
Scholar Green
Cheshire
ST7 3HF

Freehold Convenience Store Investment

Let to Martin McColl Limited
16.5 year lease from August 2018 (no breaks)
2% per annum fixed rental uplifts compounded throughout term
Rent increases to £36,964 pa in February 2025 and £40,812 pa in February 2030
Includes large customer car park to the rear
Predominantly residential location in affluent Staffordshire village

Lot
4
Auction
14th February 2019
Rent
£33,480 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Convenience Store Investment

Let to Martin McColl Limited
16.5 year lease from August 2018 (no breaks)
2% per annum fixed rental uplifts compounded throughout term
Rent increases to £36,964 pa in February 2025 and £40,812 pa in February 2030
Includes large customer car park to the rear
Predominantly residential location in affluent Staffordshire village

Lot 4
Auction 14th February 2019
Rent £33,480 per Annum Exclusive
Status Sold Prior
Price
Sector
Supermarket/Convenience
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 9 miles north of Stoke-on-Trent; 29 miles south of Manchester
Roads: A34, A500, M6 (Junction 16)
Rail: Kidsgrove Railway Station
Air: Manchester Airport

Situation

The property is situated in a predominantly residential location some 9 miles north of toke-on-Trent, in the affluent village of Scholar Green. The property occupies a prominent position fronting Congleton Road North (A34), which connects Manchester to Birmingham. Scholar Green Primary School is located to the rear.

Tenure

Freehold.

Location

Miles: 9 miles north of Stoke-on-Trent; 29 miles south of Manchester
Roads: A34, A500, M6 (Junction 16)
Rail: Kidsgrove Railway Station
Air: Manchester Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor convenience store with ancillary accommodation to the rear. The property benefits from a large customer car park to the rear.

VAT

VAT is applicable to this lot.

EPC

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

Description

The property comprises a ground floor convenience store with ancillary accommodation to the rear. The property benefits from a large customer car park to the rear.

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	Retail Ancillary	193.52 sq m 62.24 sq m	(2,083 sq ft) (670 sq ft)	MARTIN McCOLL LIMITED (1)	16.5 years from 21/08/2018 until 20/02/2035 on a full repairing and insuring lease	£33,480 (2)	February 2025 and 5 yearly thereafter. 2% per annum fixed rental uplifts compounded throughout the term
Total		255.76 sq m	(2,753 sq ft)			£33,480 (2)

(1) McColl’s trades from over 1,600 stores throughout the UK. For the year ending 26th November 2017, Martin McColl Limited reported a turnover of £713,391,000, pre-tax profits of £27,168,000 and a total net worth of £42,850,000 (Source: www.mccolls.co.uk and Experian Group 08/01/2019).
(2) The current rent passing is £32,500 per annum. The vendor has agreed to adjust the completion monies so that the property will effectively produce £33,480 per annum from completion of the sale until the first rent review in February 2020.