Whitlow Lane, Moulton, Northwich, Cheshire, CW9 8QN
|Size||2,244 sq ft|
|Freehold Price||Offers in excess of £470,000|
|Energy Performance Rating||This property has been graded as 67 C|
Northwich, with a population of 34,000, is a prosperous Cheshire town lying at the confluence of the Rivers Weaver and Dane, 29 miles south-west of Manchester, 18 miles east of Chester and 15 miles south of Warrington. Northwich Railway runs regular services to Chester and Manchester. The premises are situated in Moulton a highly densely populated residential housing area 4 miles south of Northwich. There are currently over 300 residential homes being developed by Miller and Bovis Homes.
The property is a well maintained two storey detached building. The retail shop is arranged over the ground floor with ancillary accommodation to the rear and on the first floor. The unit benefits from external storage and on street parking. The property is on a substantial site offering excellent future development potential. The unit has been refitted to McColl’s standard format.
|Ground Floor Sales||1,247 sq ft||116 sq m|
|Ground Ancilliary||189 sq ft||18 sq m|
|First Floor Ancilliary||808 sq ft||75 sq m|
|Total NIA||2,244 sq ft||209 sq m|
The property is let to Martin McColl Limited for a term of 16.5 years from the 20th October 2017 on FRI terms and subject to fixed uplifts at 2% per annum compounded throughout. The passing rent is £28,000 per annum.
|20th April 2019||£28,845 pa||5.87%|
|20th April 2024||£31,848 pa||6.48%|
|20th April 2029||£35,163 pa||7.15%|
McColl’s trade from over 1,300 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 year ending 27th November 2016 reported a turnover of £518,736 million, a pre tax profit of £25,361 million and shareholder’s funds of £160,391 million. The combined group has a turnover in excess of £1bn. It employs nearly 20,000 full and part-time staff and is visited by over 4.5 million customers every week. The company floated on the London Stock Exchange in 2014. Further information can be found at http://www.mccolls.co.uk/investor.
The property has an EPC rating of C67. A copy of the EPC is available on our website.
The property is elected for VAT which will be chargeable on the purchase price. It is anticipated the transaction is to be treated as a transfer of going concern (TOGC).
We are instructed to seek offers in excess of £470,000 (subject to contract) for the freehold interest, which reflects a net initial yield of 5.76% assuming purchasers costs at 4.57%.
Savoy Stewart is a commercial property agent and commercial property surveyor located on Oxford Street, in the heart of London. We provide comprehensive services that meet specific commercial property needs all around London and the surrounding areas.