Entirely let to McColl's on a lease expiring 2032 (no breaks)
RPI linked Rent Reviews
Part sublet to Lloyds Pharmacy
Includes a phone mast
Predominantly residential suburb with public car park at the rear and adjacent to a bus stop
Lot 50
Auction 24th October 2019
Rent £57,000 per Annum Exclusive
Status Sold
Price £852,000
Sector Supermarket/Convenience
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
5 miles south-east of Sheffield
5 miles south of Rotherham
9 miles north of Chesterfield
Roads
A57, M1
Rail
Woodhouse
Air
Doncaster Sheffield Airport
Situation
The property is located at the junction of Market Square and Cross Street in the heart of Woodhouse, about 5 miles south-east of Sheffield city centre. Woodhouse is a predominantly residential suburb with easy access to Sheffield city centre and the M1, 4 miles to the east. Rother Valley Country Park is 2 miles to the south and Meadowhall Shopping Centre 5 miles to the north. Nearby occupiers include Lloyds Bank, Ladbrokes and Fulton Foods, amongst a number of other traders.
Tenure
Freehold.
Location
Miles
5 miles south-east of Sheffield
5 miles south of Rotherham
9 miles north of Chesterfield
Roads
A57, M1
Rail
Woodhouse
Air
Doncaster Sheffield Airport
Situation
The property is located at the junction of Market Square and Cross Street in the heart of Woodhouse, about 5 miles south-east of Sheffield city centre. Woodhouse is a predominantly residential suburb with easy access to Sheffield city centre and the M1, 4 miles to the east. Rother Valley Country Park is 2 miles to the south and Meadowhall Shopping Centre 5 miles to the north. Nearby occupiers include Lloyds Bank, Ladbrokes and Fulton Foods, amongst a number of other traders.
Tenure
Freehold.
Description
The comprises a ground floor convenience store with first floor ancillary accommodation. Part of the ground floor is sublet to Lloyds Pharmacy. The property benefits from a telecoms mast on the roof.
VAT
VAT is applicable to this lot.
EPC
Band E. See legal pack at www.acutius.co.uk
Description
The comprises a ground floor convenience store with first floor ancillary accommodation. Part of the ground floor is sublet to Lloyds Pharmacy. The property benefits from a telecoms mast on the roof.
VAT
VAT is applicable to this lot.
EPC
Band E. See legal pack at www.acutius.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First
Retail/Ancillary Ancillary
635 sq m 232 sq m
(6,835 sq ft) (2,497 sq ft)
MARTIN McCOLL LIMITED (1) (part sublet to Lloyds Pharmacy)
20 years from 29/11/2012 expiring 28/11/2032 on a full repairing and insuring lease.
£52,000
2022 and 5 yearly (capped at 4% and collared at 2%)
Part Roof
Mast
CORNERSTONE TELECOMMUNICATIONS INFRASTRUCTURE LTD
£5,000 (2)
Total
867 sq m
(9,332 sq ft)
£57,000
(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) The lease is an underlease. The total rent payable by Cornerstone Telecommunications Infrastructure Ltd is £10,000 pa which is split equally between the landlord (Vendor) and the tenant (Martin McColl Limited) - please see the legal pack.
Contacts
Seller's Solicitors
Elliot Mather Solicitors St Marys Court, St Mary's Gate Chesterfield Derbyshire S41 7TD
