Established convenience store in a densely populated residential area
Retail and storage accommodation of 365.11 sq m (3,930 sq ft)
Predominantly let to The Southern Co-Operative Limited until 2029 t/a The Co-operative Food
5 yearly RPI linked rent reviews
Prominent corner position with the use of 23 on site car parking spaces
Lot 15
Auction 16th June 2021
Rent £59,667 per Annum Exclusive
Status Withdrawn Post
Price
Sector Supermarket/Convenience
Auction Venue Live Streamed Auction
Property Information
Location
Miles
8 miles south-west of Bristol
11 miles north-east of Weston-Super-Mare
Roads
A38, A370, M5
Rail
Nailsea & Backwell Station
Air
Bristol Airport
Situation
Whilst the property is located in a densely populated residential area on a prominent corner at the junction of Queens Road and Hannah More Road, it also benefits from being at the entrance to the busy West End Trading Estate, approximately 1 mile west of Nailsea Town Centre.
Tenure
Freehold.
Location
Miles
8 miles south-west of Bristol
11 miles north-east of Weston-Super-Mare
Roads
A38, A370, M5
Rail
Nailsea & Backwell Station
Air
Bristol Airport
Situation
Whilst the property is located in a densely populated residential area on a prominent corner at the junction of Queens Road and Hannah More Road, it also benefits from being at the entrance to the busy West End Trading Estate, approximately 1 mile west of Nailsea Town Centre.
Tenure
Freehold.
Description
The property comprises a ground floor convenience store (t/a The Co-operative Store) and a self contained retail unit (t/a Pets Corner) which has been sold off on a long lease. The property benefits from the use of 23 on site car parking spaces.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Description
The property comprises a ground floor convenience store (t/a The Co-operative Store) and a self contained retail unit (t/a Pets Corner) which has been sold off on a long lease. The property benefits from the use of 23 on site car parking spaces.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
1
Ground
Convenience Store
365.09 sq m
(3,930 sq ft)
THE SOUTHERN CO-OPERATIVE LIMITED (1) t/a The Co-operative Food
15 years from 29/01/2014 until 28/01/2029
£59,667
5 yearly RPI linked rent reviews (Capped at 4% pa Collared at 1% pa)
2
Ground
Retail
-
CRONIN PAGE t/a Pets Corner
999 years from 05/11/2010
Peppercorn
Total
365.09 sq m
(3,930 sq ft)
£59,667
(1) The Southern Co-operative Group operates over 200 stores. For the year ending 31st January 2021, The Southern Co-operative Limited reported a turnover of £490,281,000, gross profit £145,647,000 and net assets including pension surplus of £126,612,000 (Source: www.thesouthernco-operative.co.uk 14/05/2021).
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.
Contacts
Seller's Solicitors
Rooks Rider LLP St. Magnus House, 3 Lower Thames Street London EC3R 6HD
