Entirely let to Co-operative Group Limited (sublet to B&M Bargains)
Lease expires 06//04/2035 (No Breaks)
Annual RPI-linked rental increases (2% pa collar and 4% pa capped)
14,670 sq ft with circa 100 car parking spaces, on 1.8 acre site
Nearby occupiers include Lidl, Greggs and Lloyds Bank
Lot 14
Auction 15th December 2022
Rent £214,251 per Annum Exclusive (with annual rental increases)
Status Withdrawn Post
Price
Sector Retail Warehouse
Auction Venue Live Streamed Auction
Property Information
Location
Miles
11 miles north-east of Chepstow, 25 miles north of Bristol, 32 miles east of Cardiff
Roads
A466, A48, M48, M4
Rail
Lydney, Chepstow Railway Station
Air
Bristol International Airport
Situation
The property is situated in Lydney town centre and is accessed via Hams Road that links to Newerne Street, the principal commercial area in town. Nearby occupiers include Lidl, Greggs and Lloyds Bank.
Tenure
Freehold.
Location
Miles
11 miles north-east of Chepstow, 25 miles north of Bristol, 32 miles east of Cardiff
Roads
A466, A48, M48, M4
Rail
Lydney, Chepstow Railway Station
Air
Bristol International Airport
Situation
The property is situated in Lydney town centre and is accessed via Hams Road that links to Newerne Street, the principal commercial area in town. Nearby occupiers include Lidl, Greggs and Lloyds Bank.
Tenure
Freehold.
Description
The property comprises a former supermarket arranged on the ground and first floors. The property benefits from approximately 100 car parking spaces on a site of about 1.8 acres.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C
Description
The property comprises a former supermarket arranged on the ground and first floors. The property benefits from approximately 100 car parking spaces on a site of about 1.8 acres.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C
Tenancy & Accommodation
Floor
Use
Gross Internal Floor Areas Approx sq m
Gross Internal Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
Annual Rental Increases
Ground/ First
Retail
1,362.90
(14,670)
CO-OPERATIVE GROUP LIMITED (t/a B&M) (1)
Approximately 16 years from 15/03/2019 expiring on 06/04/2035 on a full repairing and insuring lease
£214,251
07/09/2023 and annually thereafter (2)
Total
1,362.90
(14,670)
£214,251
(1) Co-operative Group Limited is a British consumer co-operative with a family of retail businesses including food retail, wholesale, e-pharmacy, insurance and legal services, and funeral care. The Co-operative Group has over 65,000 employees across the UK and over 2,500 food and convenience stores. For the year ending December 2021 Co-operative Group Limited registered a turnover of £11,200,000,000 and a pre-tax profit of £57,000,000 (www.co-operative.coop). The property was sublet to B&M Bargains in March 2019. (2) The lease is subject to annual RPI-linked rent reviews on 7th September each year, subject to a collar of 2% pa and cap of 4% pa.
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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