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Lot 7
13-15 Cole Green Lane, Welwyn Garden City, Hertfordshire AL7 3PP

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Withdrawn Prior

6 Week completion

SITUATION

Located within this established parade which includes such multiple retailers as Betfred, Boots Pharmacy, Ladbrokes, Papa John's and Martins and being approx. 1 mile south-east of the town centre.
Welwyn Garden City is a popular Hertfordshire town located approximately 25 miles north of London and benefits from good road access via the A1(M) (Junction 4).

PROPERTY

Forming part of a mid terraced building comprising a Ground Floor Supermarket with internal access to Ancillary Accommodation at rear first floor level. In addition, the property benefits from rear access to a service road for unloading together with ample customer parking at the front.

ACCOMMODATION

Ground Floor Supermarket
Gross Frontage 88'4"
Internal Width 86'8"
widening at rear to 121'0"
Shop Depth 56'3"
Built Depth 81'2"
GIA Approx. 7,335 sq ft
First Floor
Staff Canteen/Office/WCs
GIA Approx. 870 sq ft

Total GIA Approx. 8,205 sq ft

VAT is NOT applicable to this Lot

TENURE

Leasehold for a term of 999 years from 25th March 1996 at a Peppercorn.

TENANCY

The property is let on a full repairing and insuring lease to Co-operative Foodstores Limited (Guaranteed by Co-Operative Group Food Limited) (see Tenant Profile) for a term of 10 years from 18th May 2014 at a current rent of £67,500 per annum exclusive

Rent Review & Tenant's Break May 2019

TENANT PROFILE

Co-operative Foodstores Ltd trade from over 2,800 stores across the UK.
They are a fully owned subsidiary of Co-operative Group Ltd who for the year ended 2nd Jan 2016 reported a turnover of £9.3bn, Pre-Tax Profit of £23m and Shareholders' Funds of £2.95bn.

*Please note:

RESERVE:The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE: Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Buyer or Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.