McColl's Convenience Store - Hare Runs

93 Barley Cop Lane, Hare Runs, Lancaster, LA1 2PP

Property Type Investment
Availability For Sale
Size 3,203 sq ft
Freehold Price Offers in excess of £550,000
Energy Performance Rating This property has been graded as 61 C

McColl's Convenience Store


Lancaster is an attractive and prosperous university city located approximately 20 miles north of Preston. It is also an important regional shopping centre, with a substantial catchment area and benefits from excellent communications via Junction 34 of the M6 Motorway lying to the eastern side of the city. Hare Runs is an attractive suburb some 2 miles north west of the town centre on the A6 trunk road. The property is located on Barley Cop Lane in a densely populated residential area.

Key Points

  • Convenience store in the centre of this residential suburb.
  • Let for 18 years with no breaks to the excellent covenant Martin McColl Limited
  • Fixed uplifts throughout at 2% pa
  • Passing rent £33,000 per annum
  • Net initial yield of 5.72% with a reversionary yield in November 2020 to 6%

The property which is detached is arranged on ground and first floor with ground floor sales and ancillary space together with first floor storage and ancillary.  The property is of traditional brick construction under a pitched and tiled roof.  There is unrestricted on street car parking.

Ground Floor Sales 1,628 sq ft 151.2 sq m
Ancilliary 489 sq ft 45.42 sq m
First Floor Storage 1,086 sq ft  100.88 sq m
Total NIA 3,203 sq ft 297.55 sq m




The property is let to Martin McColl Limited for a term of 18 years from the 13th November 2017 on FRI terms and subject to fixed uplifts at 2% per annum compounded throughout.  The initial rent is £33,000 per annum.


Year Rent Reversionary
13th November 2020 £35,020 pa 6%
13th November 2025 £38,665 pa 6.7%
13th November 2029 £42,689 pa 7.4%


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


The property has an EPC rating of C61.


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 £550,000 (subject to contract) for the freehold interest, which reflects a net initial yield of 5.72% assuming purchasers costs at 4.89%.

Savoy Stewart - London Commercial Property Experts

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.

Why choose Savoy Stewart for London commercial property?

  • We're the first choice for many new to market properties due to our reputation in
    the London market.

    Experience working with household name clients such as Campari, Heineken and TomTom as well as independent clients puts us in position find the property to best suit your needs.
  • We can often negotiate better prices for our clients
    by utilising local knowledge and leveraging our established position in the London market.
  • Find the right property in the quickest possible time.
    We understand just how important your time is and we are dedicated to fulfilling your needs quickly and accurately.

We also offer a range of specialist property services including:

  • D1 Properties
    Our focus on D1 properties mainly includes properties for educational, religious and medical/dental use.
  • Retail Properties
    We work with landlords and retailers in the Greater London area to provide viable retail properties.
  • Serviced Offices
    Browse through over a 1000 serviced offices perfect for short term requirements and small businesses.

Our Services:

  • Lettings and sales
    Are you looking to sell or rent property? Or are you looking to acquire new premises? Our Letting and sales team can help with all aspects to help you with your property.
  • Investment advice
    Are you looking to identify lucrative new investment opportunities? Our investment advice team offer unbiased advice on all aspects of property investment for both UK and overseas investors.
  • Rent reviews
    Do you need help to arrange the best rental agreement for your property or business? Our rent reviews team offer impartial advice for landlords and tenants to negotiate agreements between both parties. Our chartered surveyor expertise means that we can also advise on legal issues.
  • Lease renewals
    Do you need help with the complicated lease renewal process? Our lease renewals team can help you avoid the pitfalls and traps when renewing your lease and many of our clients find this service invaluable.
  • Management
    Would you like us to manage your commercial property? We offer a competitively priced management service suited to your property. Our team work to establish a relationship between both landlord and tenant to recognise and minimise any potential difficulties as early as possible.

Savoy Stewart at a glance

If you would like further information regarding any of our services
just call us on 020 7495 3666.