110/112 Llewellyn Road, Pontygwaith, Rhondda, CF43 4LD
|Size||3,433 sq ft|
|Freehold Price||Offers in excess of £380,000|
Pontygwaith is a village located in the Rhondda Fach valley in the county borough of Rhondda Cynon Taf,Wales 18 miles north-west of Cardiff. The town is situated adjacent to the A4233 and close to the junction of the A4058 providing access which links with the A470 which in turn provides access to Junction 32 of the M4 Motorway.
The property is a part single and part two storey end of terraced building under part pitched and part flat roof. The unit is arranged as a ground floor shop with ancillary accommodation at first floor level. The property has been extensively refurbished and refitted to McColl’s standard format.
|Sales (Convenience Store)||2,104 sq ft||195 sq m|
|Ancillary (First Floor)||1,329 sq ft||123 sq m|
|Total NIA||3,433 sq ft||318 sq m|
The property is let to Martin McColl Limited for a term of 20 years from 8th October 2012 on FRI terms and subject to 5 yearly upward only rent reviews with fixed uplifts at 2% per annum compounded throughout. The commencing rental is £25,000 per annum, the vendor is topping the rent up to £27,602 per annum the October 2017 rent review on completion.
|October 2022||£30,475 pa||7.71%|
|October 2027||£33,647 pa||8.51%|
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 £25.631 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-tine 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 is elected for VAT and therefore VAT will be payable on the purchase price. However it is anticipated that the sale will be treated as Transfer of a Going Concern (TOGC).
We are instructed to seek offers in excess of £380,000 (subject to contract) for the freehold interest, which reflects a net initial yield of 6.98% assuming purchasers costs at 4.04%.
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.