Freehold Retail and Residential Investment
Freehold Retail and Residential Investment
The property is situated in a predominantly residential location some 1 mile east of Cleckheaton on the north side of Spen Lane (A643), and forms part of a local neighbourhood parade of shops.
Freehold.
The property is situated in a predominantly residential location some 1 mile east of Cleckheaton on the north side of Spen Lane (A643), and forms part of a local neighbourhood parade of shops.
Freehold.
The property comprises a ground floor convenience store with a post office together with a first floor self-contained 4 bedroom flat accessed from the side, which has been sublet.
VAT is not applicable to this lot.
10 Week Completion Available
Available from the legal pack at acuitus.co.uk
The property comprises a ground floor convenience store with a post office together with a first floor self-contained 4 bedroom flat accessed from the side, which has been sublet.
VAT is not applicable to this lot.
10 Week Completion Available
Available from the legal pack at acuitus.co.uk
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reversions/ (Reversion) |
|
|---|---|---|---|---|---|---|---|
| Ground |
Retail |
174.5 sq m |
(1,878 sq ft) |
MARTIN McCOLL LIMITED (1) |
20 years from 10/02/2014 on a full repairing and insuring lease |
£28,706 | 10/02/2024 and 10/02/2029 (2) (09/02/2034) |
| First | Residential | 4 bedroom Flat | |||||
| TotalCommercialFloor Area |
174.50 sq m |
(1,878 sq ft) |
£28,706 | ||||
(1) For the year ending 25th November 2018, Martin McColl Limited reported a turnover of £835,333,000, pre-tax profits of £34,718,000 and a total net worth of £71,797,000 (Source: Experian Group 8/01/2020). McColl's operates around 1,550 convenience stores and newsagents across England.
(2) The lease provides for fixed rent increases every fifth year of the the term. In 2024, the rent will increase to £31,694 p.a.x. and in 2029 will increase to £34,993 p.a.x.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
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