Let on a recent 20 year lease to Martin McColl Limited
2% per annum compounded fixed uplifts
Prominent site with car parking and garages
Includes a three bedroom hous
Six Week Completion Available
Opposite Boots Pharmacy
Lot 35
Auction 18th October 2012
Rent £26,000 per Annum Exclusive
Status Sold
Price £375,000
Sector Supermarket/Convenience
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
13 miles north of Boston, 22 miles south of Lincoln
Roads
A1, A17, A153
Rail
Sleaford Rail Station (direct to Nottingham and Peterborough)
Air
Nottingham East Midlands Airport
Situation
Coningsby is a market town some 20 miles south of Lincoln city centre. The property is located in a prominent trading position on Silver Street, opposite a Boots Pharmacy. Other notable nearby occupiers include The Post Office and Lloyds Bank.
Tenure
Freehold.
Location
Miles
13 miles north of Boston, 22 miles south of Lincoln
Roads
A1, A17, A153
Rail
Sleaford Rail Station (direct to Nottingham and Peterborough)
Air
Nottingham East Midlands Airport
Situation
Coningsby is a market town some 20 miles south of Lincoln city centre. The property is located in a prominent trading position on Silver Street, opposite a Boots Pharmacy. Other notable nearby occupiers include The Post Office and Lloyds Bank.
Tenure
Freehold.
Description
The property comprises a modern, single storey convenience store, substantial car park, two garages and a three bedroom house.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a modern, single storey convenience store, substantial car park, two garages and a three bedroom house.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Retail
116.87 sq m
(1,258 sq ft)
Entirely let toMARTINMCCOLLLIMITED (1)
20 years from 21/02/2011 on a full repairing and insuring lease (2)
£26,000
20/02/2016 and 5-yearly thereafter (fixed rental uplifts at 2% per annum compounded)
Residential
Three Bedroom House
Car Park
Approximately 10 spaces
Garages
49.98 sq m
(538 sq ft)
Totals
166.85 sq m
(1,796 sq ft)
£26,000
(1) For the year ending 27th November 2011, Martin McColl Limited reported a turnover of £380,485,000 a pre-tax profit of £18,068,000 and a total net worth of £100,676,000. (Source www.riskdisk.com 04/09/2012) (2)The lease provides for a 5 yearly upward only rent reviews with fixed uplifts at 2% per annum compounded throughout. (3)The tenant has sublet the three bedrrom house.
