2 bedroom convenience store for sale

High Street, DN36

Offers in Region of 2,026 sq. ft. | £545,000

Property Description

Commercial information

  • 2,026 sq ft (188 sq m)

Key features

  • 2026 sq ft
  • Tenanted to Martin McColls PLC
  • 16.5 year Lease
  • Excellent covenant strength

Full description

Tenure: Freehold

LOCATION
The property is located on the main square at the heart of North Thoresby, an affluent village in North Lincolnshire. It is located on the A16 road, equidistant between Grimsby and Louth, on the eastern edge of the Lincolnshire Wolds. It serves the local community and surrounding rural catchment.

DESCRIPTION
Comprises a two storey detached building of traditional construction under a pitched, tiled roof. The retail shop is on the ground floor with ancillary accommodation towards the rear. The first floor comprises two 1 bed flats with undeveloped vacant accommodation to the rear. This will be maintained under the lease in its existing condition but would provide the purchaser with a development angle in due course.

ACCOMMODATION
m2 sq ft
G/F Sales Area 142.4 1,532
G/F Ancillary space 45.9 494

m2 sq ft
total 188.2 2,029
plus staff w/c's

plus inclusive of 2 one bed flats

PRICE
Offers of 545,000 for the Freehold interest.

We are informed that VAT is not applicable to this Sale.

TENANCY
The entire property is let to Martin McColl Limited for a term of 16.5 years on FRI terms from the end of November 2015 and subject to fixed uplifts at 2% per annum compounded throughout. The first review is in 18 months and thereafter 5 yearly.

Current Rental is 35,000pa

until:-
May 2017 the rent increases to 36.057 pa
May 2022 the rent increases to 39,809 pa
May 2027 the rent increases to 43,952 pa


COVENANT STRENGTH
McColl's trade nationwide from over 1,300 stores the UK. Approximately three quarters of those being convenience stores and the remainder trading as newsagents. Their brands include McColl's, Martin's and R. S. McColl. For the year ending 30th November 2014 reported a turnover of 462.850 million, a pre tax profit of 27.947 million and shareholder's funds of 117.307 million. Martin McColl Ltd has a Dun & Bradstreet rating of 5A2.

The combined group has a turnover in excess of 1bn. It employs nearly 20,000 full and part-tine staff and is visited by over 4.5 million customers every week. The company floated on the London Stock Exchange in 2014.

BUSINESS RATES
According to the Valuation Office Agency 2010 website; this property has a current rateable value of 7,700

Interested parties are advised to make their own enquiries in this respect.

VIEWINGS
For further information or to arrange a viewing, please contact Peter Davies on 0113 237 0999.

ENERGY PERFORMANCE CERTIFICATE
Energy Performance Certificates for this property is:-
0134 - 0934 - 0009 - 6000 - 4096
Efficiency Rating D - 99


MISREPRESENTATION ACT 1967
Stoneacre Properties acting as agent for the vendors or lessors of this property give notice that:-

The particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract.

All descriptions, dimensions, condition statements, permissions for use & occupation, and other details are given in good faith and are believed to be correct. Any intending purchasers or tenants should not rely them as such as statements or representations of fact but must satisfy themselves by inspection or otherwise as the correctness of each of them.

No person in the employment of Stoneacre Properties has any authority to make or give representation or warranty whatsoever in relation to this property.

All prices and rents are quoted exclusive of VAT unless expressly stated to the contrary.

A director of Stoneacre Properties has a financial interest in this property.

MISDESCRIPTIONS ACT 1991
These details believe to be correct at the time of compilation, but may be subject to subsequent amendment.

ALL OFFERS ARE SUBJECT TO CONTRACT.
Details prepared February 2016

Nearest station

  • Cleethorpes (6.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Stoneacre Properties, Leeds - Commercial Sales Office

184 Harrogate Road, Chapel Allerton, Leeds, LS7 4NZ

0113 237 0999 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • Cleethorpes (6.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Stoneacre Properties, Leeds - Commercial Sales Office

184 Harrogate Road, Chapel Allerton, Leeds, LS7 4NZ

0113 237 0999 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference Northo. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Stoneacre Properties, Leeds - Commercial Sales Office. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data OpenStreetMap contributors.