Mc Colls Convenience Store 36 Cliff Road Newquay TR7 2ND

Mc Colls Convenience Store
36 Cliff Road
Newquay
TR7 2ND

Virtual Freehold Retail Investment

Let on a recent 16-year lease to Martin McColl Limited
2% per annum compounded fixed rental uplifts
Prominent location in the town centre, some 50 metres from the station
Significant commercial centre and popular tourist destination
Nearby occupiers include Travelodge, Burger King and a significant hotel and leisure presence
Six Week Completion Available

Lot
45
Auction
18th October 2012
Rent
£32,000 per Annum Exclusive
Status
Sold
Price
£430,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Virtual Freehold Retail Investment

Let on a recent 16-year lease to Martin McColl Limited
2% per annum compounded fixed rental uplifts
Prominent location in the town centre, some 50 metres from the station
Significant commercial centre and popular tourist destination
Nearby occupiers include Travelodge, Burger King and a significant hotel and leisure presence
Six Week Completion Available

Lot 45
Auction 18th October 2012
Rent £32,000 per Annum Exclusive
Status Sold
Price £430,000
Sector
Supermarket/Convenience
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: Newquay town centre, 16 miles north of Truro, 40 miles west of Plymouth
Roads: A1, A17, A153
Rail: Newquay Rail Station
Air: Newquay Cornwall Airport

Situation

The property is situated in Newquay town centre, some 50 metres from the station. The town is a major tourist destination in the UK and the property benefits from close proximity to the established hotel and leisure presence located nearby.

Tenure

Virtual Freehold.

Location

Miles: Newquay town centre, 16 miles north of Truro, 40 miles west of Plymouth
Roads: A1, A17, A153
Rail: Newquay Rail Station
Air: Newquay Cornwall Airport

Situation

Tenure

Virtual Freehold.

Description

The property comprises a ground floor retail unit with ancillary accommodation in a prominent corner position. Ample parking is available opposite the property and the nearby surrounding streets.

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 ground floor retail unit with ancillary accommodation in a prominent corner position. Ample parking is available opposite the property and the nearby surrounding streets.

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 Ground	Retail Ancillary	151.06 sq m 64.19 sq m	(1,626 sq ft) (691 sq ft)	MARTIN MCCOLLLIMITED (1)	16 years from 09/03/2011 until 08/03/2027 on a full repairing and insuring lease (2)	£32,000	08/03/2016 and 5 yearly thereafter (fixed uplifts at 2% per annum compounded)
Totals		215.25 sq m	(2,317 sq ft)			£32,000

(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.