McColls, High Street Box Corsham Wiltshire SN13 8NQ

McColls, High Street
Box
Corsham
Wiltshire
SN13 8NQ

Freehold Convenience Store Investment

Let to Martin McColl Limited with Plc guarantor
16.5 year lease from 21st February 2019
(no breaks)
2% per annum fixed rental uplifts compounded throughout term
Rent increases to £34,121 pa on 21st August 2025 and £37,672 pa on 21st August 2030
Approximately 6,590 sq ft (includes Post Office)
in densely populated area

Lot
11
Auction
4th April 2019
Rent
Status
Sold
Price
£377,000
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 with Plc guarantor
16.5 year lease from 21st February 2019
(no breaks)
2% per annum fixed rental uplifts compounded throughout term
Rent increases to £34,121 pa on 21st August 2025 and £37,672 pa on 21st August 2030
Approximately 6,590 sq ft (includes Post Office)
in densely populated area

Lot 11
Auction 4th April 2019
Rent
Status Sold
Price £377,000
Sector
Supermarket/Convenience
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 5 miles north-west of Liverpool; 25 miles north-west of Chester
Roads: A41, M56, M53
Rail: Wallasey Grove Road Railway Station
Air: Liverpool John Lennon Airport

Situation

Wallasey is located at the northern end of the Wirral Peninsula, adjacent to Birkenhead, and forms part of the Merseyside conurbation. The property is situated in Egremont, a predominantly residential suburb of Wallasey, at the corner of Stringhey Road and Trafalgar Road, which connects to King Street and Seabank Road (A554) to the east.

Tenure

Freehold.

Location

Miles: 5 miles north-west of Liverpool; 25 miles north-west of Chester
Roads: A41, M56, M53
Rail: Wallasey Grove Road Railway Station
Air: Liverpool John Lennon Airport

Situation

Tenure

Freehold.

Description

The property comprises a convenience store, which incorporates a post office and off-licence, arranged on the ground floor only.

VAT

VAT is applicable to this lot.

EPC

Band D. Please see legal pack at www.acuitus.co.uk.

Description

The property comprises a convenience store, which incorporates a post office and off-licence, arranged on the ground floor only.

VAT

VAT is applicable to this lot.

EPC

Band D. Please see legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground	Retail/Ancillary	612.23 sq m	(6,590 sq ft)	MARTIN McCOLL LIMITED (1) with a guarantee from McCOLL’S RETAIL GROUP PLC (2)	16.5 years from 21/02/2019 until 20/08/2035 on a full repairing and insuring lease	£30,904 (3)	21/08/2020 and 5 yearly thereafter. 2% per annum fixed rental uplifts compounded throughout the term
Total		612.23 sq m	(6,590 sq ft)			£30,904

(1) For the year ending 26th Novermber 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: Experian Group 24/04/2019). The first McColl's store was opened in 1901 and is now a leading neighbourhood retailer with around 1,550 convenience stores and newsagents across England, Scotland and Wales (Source: www.mccolls.co.uk 24/04/2019).
(2) For the year ending 26th November 2017, McColl's Retail Group Plc reported a turnover of £1,131,777,000 and pre-tax profits of £18,406,000 (Source: Experian Group 24/04/2019).
(3) The current passing rent is £30,000 per annum. The vendor has agreed to adjust the completion monies so that the property will effectively produce £30,904 per annum from completion of the sale until the first rent review in 2020.