The Chase Caravan Park, Anchor Lane, Skegness, Lincolnshire, PE25 1LZ
|Size||2,627 sq ft|
|Rent||£23,179 per annum|
The Civil Parish of Ingoldmells is a coastal village located in Lincolnshire some 3 miles north of Skegness via the A52. Lincoln is located some 45 miles to the west whilst Junction 17 of the A1(M) is some 65 miles to the south.
The property is situated in Ingoldmells 4 miles north of Skegness town centre. The property is well located in a holiday village by a number of large caravan parks.
The property is a modern single storey modern detached unit under a pitched tiled roof. The premises are arranged as a ground floor convenience store with ancillary accommodation to rear of the premises. The property has recently been extensively refurbished and refitted to McColl’s standard format.
|Sales (Convenience Store)||2117 sq ft||197 sq m|
|Ancillary||510 sq ft||47 sq m|
|Total NIA||2,627 sq ft||244 sq m|
The property is let to Martin McColl Limited for a term of 16.5 years from 16th July 2015 on FRI terms and subject to rent reviews after 1.5 years and 5 yearly thereafter upward only reviews subject to fixed uplifts at 2% per annum compounded throughout. The passing rent is £23,179 per annum.
|16th January 2022||£25,591 pa||7.26%|
|16th January 2027||£28,255 pa||8.01%|
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.
We are instructed to seek offers in excess of £340,000 (subject to contract) for the Freehold interest, which reflects a net initial yield of 6.57% assuming purchasers costs at 3.71%.
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.