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Lot 24

6 Week Completion
Over 15 years unexpired to Martin McColl Ltd with no breaks

Situation

Located in this residential area, opposite a new housing development and just a 2 minute walk from Ellesmere Port Railway Station.
Ellesmere Port is located on the Wirral Peninsula some approx. 6 miles north of Chester and 10 miles south of Liverpool and enjoys easy access to the M53 (Junctions 7 to 10) which links with the M56 motorway.

Property

Forming part of a commercial and residential mixed use Art Deco building comprising a recently converted Ground Floor Convenience Store with an external ATM and onsite parking for 10 cars.

Accommodation

Ground Floor Convenience Store
Gross Frontage 49'8'' (Cromwell Road)
Internal Width 40'9''
Shop Depth 47'8''
Built Depth 74'8''
Sales Area Approx. 1,880 sq ft
Ancillary Area Approx. 925 sq ft
WC
Total Area Approx. 2,805 sq ft

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from 28th May 2019 at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease to Martin McColl Limited (see Tenant Profile) for a term of 16.5 years from 28th May 2019 at a current rent of £29,359 per annum exclusive (see Note).

The rent increases to £32,415 p.a. in 2025 and to £35,789 p.a. in 2030.

Note: The current rent is £28,500 p.a. rising to £29,359 p.a. on 28th November 2020 and the Vendor will top up this rent shortfall on completion.

Tenant Profile

McColl's trade from over 1,600 stores throughout the UK with 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 Y/E 25/11/18, Martin McColl Ltd reported a T/O of £835.3m, Pre-Tax Profits of £34.7m and Shareholders' Funds of £218.3m.
The combined group has a turnover in excess of £1.1bn. It employs over 22,000 full and part-time staff and is visited by over 5 million customers every week. The group company floated on the London Stock Exchange in 2014 and further information can be found at: www.mccollsplc.co.uk/investors

*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 Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 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.

6 Cromwell Road, Ellesmere Port, Cheshire CH65 4DD