|Energy Performance Rating||This property has been graded as D 85|
Mini Supermarket with Post Office Investment. Let for 16.5 years with no breaks.
Wallasey, with a population of some 58,000, is located at the northern end of the Wirral Peninsula adjacent to Birkenhead and forms part of the Merseyside conurbation. The M53 Motorway begins at the town’s edge and access to central Liverpool is provided by the A53 Kingsway Tunnel. The property is situated in Egremont, a residential suburb of Wallasey, surrounded by a large number of residential housing and is a busy trading store serving the local community in the area.
- Mini supermarket serving densely populated residential area
- Substantial car parking available on the street
- Property is let for 16.5 years with no breaks to Martin McColl Ltd with a guarantee from McColl’s Retail Group Plc
- Total current rents reserved £30,904 per annum rising to £34,121 per annum on 21st August 2025
- Fixed uplifts at 2% pa compounded throughout offering guaranteed rental growth
- Low passing rent of only £4.55 per sq ft
- Offers in excess of £490,000
- Net Initial Yield of 6.03% with a Reversionary Yield of 6.65% in 2025
The building is a single storey corner sited building under a flat roof. The retail shop is arranged over the ground floor with large ancillary and staff accommodation to the rear. The sales area incorporates a post office, a full range of grocery products and an off licence. There is considerable car parking available on the street.
|Ground - Sales||2,987 sq ft||277 sq m|
|Ground - Ancillary||3,603 sq ft||335 sq m|
|Total NIA||6,590 sq ft||612 sq m|
The whole property is let to Martin McColl Limited with a guarantee from McColl's Retail Group Plc for a term of 16.5 years from the 21st February 2019 on FRI terms. The lease is subject to fixed uplifts at 2% per annum compounded throughout. The passing rent is £30,000 per annum. The vendor will top up the rent to £30,904 per annum from completion until 21st August 2020 by way of a reduction in the purchase price.
|21st August 2025||£34,121 pa||6.65%|
|21st August 2030||£37,672 pa||7.34%|
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 year ending 26th November 2017 reported a turnover of £713.391 million, a pre-tax profit of £27.168 million and shareholder’s funds of £186.239 million.
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 company floated on the London Stock Exchange in 2014. Further information can be found at:
The property has an EPC rating of D85. 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 £490,000 (Four Hundred and Ninety Thousand Pounds) subject to contract for the freehold interest, which reflects a net initial yield of 6.03% assuming purchaser's costs at 4.66%.
Viewing & Further Information
For further information, or if you would like to arrange a viewing, please contact our agents:
020 7478 9112
020 7478 9113