Freehold Convenience Store/Petrol Station Investment
Let to Essar Oil (UK) Limited on a new 20 Year lease
No Break Option until 2039
Comprises a Petrol Station, Car Wash and a Convenience Store
Approximately 0.20 Hectare (0.497 Acre)
Rent Reviews linked to the Retail Price Index (RPI) subject to a minimum of 1% per annum compounded and a maximum of 3% per annum compounded
Adjacent to B&M Stores
Lot 20
Auction 3rd November 2022
Rent £40,000 per Annum Exclusive
Status Sold
Price £590,000
Sector Motor Trade, Petrol Station
Auction Venue Live Streamed Auction
Property Information
Location
Miles
9 Miles north-east of Huntingdon, 12 miles south-east of Peterborough, 24 miles north-west of Cambridge
Roads
A141, A14, A1(M) (Junction 15)
Air
Luton Airport, London Stansted Airport
Situation
Ramsey is a popular Cambridgeshire market town in some 10 miles north of Huntingdon. The property is situated in a largely residential area on the North side of Newtown road at its junction with Stocking Fen Road.
Tenure
Freehold.
Location
Miles
9 Miles north-east of Huntingdon, 12 miles south-east of Peterborough, 24 miles north-west of Cambridge
Roads
A141, A14, A1(M) (Junction 15)
Air
Luton Airport, London Stansted Airport
Situation
Ramsey is a popular Cambridgeshire market town in some 10 miles north of Huntingdon. The property is situated in a largely residential area on the North side of Newtown road at its junction with Stocking Fen Road.
Tenure
Freehold.
Description
The Property comprises a Petrol Filling station with 8 pumps, a convenience store and a car wash. The property also benefits from multiple car parking spaces and a site area of approximately 0.20 Hectare (0.497 Acre) with a site coverage of approximately 23%.
The property may be suitable for long term residential redevelopment subject to consents.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The Property comprises a Petrol Filling station with 8 pumps, a convenience store and a car wash. The property also benefits from multiple car parking spaces and a site area of approximately 0.20 Hectare (0.497 Acre) with a site coverage of approximately 23%.
The property may be suitable for long term residential redevelopment subject to consents.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground
Convenience store Petrol Filling station
45.22
(488)
ESSAR OIL (UK) LIMITED (CRN 07071400) (1)
20 Years from 12th September 2022 until 2042 (3)
£40,000
12th September 2027 and 5 yearly. To be reviewed in line with the Retail Price Index (2)
(1) Essar Oil (UK) Limited (CRN 07071400) was incorporated in November 2009 and Essar oil (UK) Limited completed the acquisition of the Stanlow crude oil refinery from Shell in 2011. The site produces oil products including about one sixth of Britain's transport fuels. Annually, about 4.4 billion litres of diesel and 3 billion liters of petrol and 2 billion litres of Jet fuel. Essar oil(UK) limited are part of a global group of companies.(essaroil.co.uk) (2) The lease provides for the rent to be reviewed in line with the Retail Price Index subject to a minimum of 1% per annum compounded and a maximum of 3% per annum compounded. (3) The lease provides for a tenant option to determine the lease on 12th September 2039 subject to 6 months notice in writing.
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.
