Co-operative Convenience Store & Total Petrol Filling Station Hailsham Road Polegate Eastbourne BN26 6RE

Co-operative Convenience Store & Total Petrol Filling Station
Hailsham Road
Polegate
Eastbourne
BN26 6RE

Convenience Store & Petrol Filling Station Investment

Entirely let to Somerfield Stores Ltd, guaranteed by Co-operative Group Food Limited, until 2031 (no break)
Prominent and highly accessible position on the junction of the A22 & A27
Approximately 391 sq m (4,211 sq ft) and a site area of some 0.458 hectares (1.132 acres)
3 miles north of the popular seaside town of Eastbourne
Six Week Completion Available

Lot
15
Auction
21st March 2013
Rent
£257,595 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA
On Behalf of Joint Fixed Charge Receivers, Jones Lang LaSalle

Important Update Interested?

Expand
Photos
Map

Convenience Store & Petrol Filling Station Investment

Entirely let to Somerfield Stores Ltd, guaranteed by Co-operative Group Food Limited, until 2031 (no break)
Prominent and highly accessible position on the junction of the A22 & A27
Approximately 391 sq m (4,211 sq ft) and a site area of some 0.458 hectares (1.132 acres)
3 miles north of the popular seaside town of Eastbourne
Six Week Completion Available

Lot 15
Auction 21st March 2013
Rent £257,595 per Annum Exclusive
Status Sold Prior
Price
Sector
Motor Trade, Petrol Station
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA
On Behalf of Joint Fixed Charge Receivers, Jones Lang LaSalle

Property Information

Location

Miles: 49 miles south of London, 3 miles north of Eastbourne, 22 miles east of Brighton
Roads: A27, A22, A2270
Rail: Polegate Railway Station
Air: Gatwick International Airport

Situation

The property is situated on the Cophall Interchange, a major roundabout that connects the A27 Polegate Bypass with the A22. The A27 is the primary route along the south coast between Portsmouth and Eastbourne, and the A22 runs directly north from Eastbourne to London. There is a Premier Inn diagonally opposite the property and a McDonald’s adjacent.

Tenure

Long Leasehold. Held for a term of 99 years from 22nd December 2005 at a peppercorn rent.

Location

Miles: 49 miles south of London, 3 miles north of Eastbourne, 22 miles east of Brighton
Roads: A27, A22, A2270
Rail: Polegate Railway Station
Air: Gatwick International Airport

Situation

Tenure

Long Leasehold. Held for a term of 99 years from 22nd December 2005 at a peppercorn rent.

Description

The property comprises a modern convenience store benefiting from ancillary offices, storage, WC’s and an ATM. The store is situated on a substantial forecourt with parking for some 10 cars, additional HGV parking for 6 vehicles and a drive through car wash. There are five pumping stations under a canopy and a further two pumping stations for HGV’s.

Note
This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The Joint Fixed Charge Receivers are not bound to accept the highest or any offer and are acting without personal liability.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is 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	391 sq m	(4,211 sq ft)	SOMERFIELD STORES LTD (guaranteed by Somerfield Ltd now part of Co-Operative Group Food Limited) (1)	25 years from 05/05/2006 until 04/05/2031 on a full repairing and insuring lease	£257,595	05/05/2016 and five yearly
Totals		391 sq m	(4,211 sq ft)			£257,595

(1) In March 2009, The Co-operative Group completed the acquisition of Somerfield at a cost of £1.565bn.The Co-Operative Group is the UK’s largest consumer cooperative, offering a wide range of services including food, financial services, pharmacy, funerals, legal services, life planning, motor vehicles and electrical goods. The Group generates an annual turnover of £13.3bn, employs more than 102,000 people and operates over 5,000 retail trading outlets serving more than 21 million customers per week. Co-Op are the 5th largest food retailer in the UK and trade from approximately 2,801 stores. (Source: Co-Operative Group Annual Report 2011)