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Convenience Store for sale

New Hedges, SA70

Sold STC 3,348 sq. ft. | £775,000

Property Description

Commercial information

  • 3,348 sq ft (311 sq m)

Key features

  • 3,348 sq ft
  • Tenanted Investment Opportunity
  • Excellent covenant strength

Full description

Tenure: Freehold

LOCATION
Tenby is a popular seaside tourist destination lying about 51 miles west of Swansea and 18 miles south east of Haverfordwest. The town is accessed via the A478, which provides access to the M4 motorway via the A48. Regular rail services to Swansea provide onward national links and regular services to London Paddington. During peak seasons there are direct rail services from London Paddington.

New Hedges is located about one mile north of Tenby and is accessed via the A478. The property lies on the west side of the B4316, running south from Broadfield Hill. The property commands a prominent position in a mainly residential area.

DESCRIPTION
A single storey building of traditional construction beneath a flat roof totalling about 311.13m2 (3,348ft2). The building is currently arranged as a convenience store incorporating a post office counter, hot food counter and ancillary accommodation. The building includes a large warehouse/store with delivery access and cold storage facilities.

The building sits on a large triangular site of about 0.12 hectares (0.31 acres) and provides car parking for 20 plus vehicles. There is a Post Office cashpoint machine situated on the front elevation.

ACCOMMODATION
m2 sq ft
G/F zone A 130.53 1404
G/F zone B 95.09 1023
G/F zone C 17.79 192
G/F internal storage 5.60 275
G/F mid shop 23.23 250
Rear of post office 18.89 204

m2 sq ft
Total space 311.13 3348
Car parking spaces 20no

PRICE
Offers of 775,000 for the freehold interest.
We are informed that VAT is not applicable to this sale.

TENANCY
The property is currently tenanted as a supermarket at 50,000 per annum until 2034 with no Breaks with a guarantee from Martin McColl Ltd.

There are fixed rental uplifts based upon an annual 2% compound uplift that is applied every 5 years. This will eventually take the rental to 67,293.

Charnwait Management Ltd is a wholly owned subsidiary of McColl's Retail Group plc. For the year ending 24 November 2013, Martin McColl Ltd (the Guarantor) reported a turnover of 428.10 million, a pre-tax profit of 26.62 million and shareholder funds of 175.45 million (source: Creditsafe UK).

PLANNING
All further enquiries regarding planning matters should be directed to Pembrokeshire County Council tel: 01437 764551.

BUSINESS RATES
According to the Valuation Office Agency 2010 website, this property has a current rateable value of 20,750.

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 0670 - 0539 - 3669 - 3321 - 6006

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.

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 Oct 2014


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