|Energy Performance Rating||This property has been graded as C 64|
McColl's Substantial Well Located Convenience Store
The town of Dukinfield is located within the Metropolitan Borough of Tameside in Greater Manchester, 6 miles east of Manchester city centre on the south bank of the River Tame. The town is located immediately to the south of Ashton-under-Lyme on the A627, 1.5 miles east of the M60 (Junction 23). The property is situated just off the main through road A627 on Astley Street where there are a number of other local occupiers.
- Single storey detached convenience store located in a residential suburb of Manchester
- Let for 16.5 years with no breaks to the excellent covenant Martin McColl Limited
- Fixed uplifts at 2% pa throughout
- Total current rents reserved £36,055 per annum, rising to £43,951 per annum in November 2029
- Net initial yield of 6.03% with a reversionary yield in April 2024 to 6.65%
The property is a large single storey detached brick building under a flat roof. The retail shop is arranged over the ground floor with large ancillary and staff accommodation to the rear. There is a large rear access for deliveries and on street parking available in front of the unit.
|Ground (Sales)||2,841 sq ft||264 sq m|
|Ground (Ancillary)||1,240 sq ft||115 sq m|
|Total NIA||4,081 sq ft||379 sq m|
The property is let to Martin McColl Limited for a term of 16.5 years from the 18th May 2018 on FRI terms and subject to fixed uplifts at 2% per annum compounded throughout. The passing rent is £35,000 per annum. The vendor will top up the rent to £36,055 per annum from completion until 18th November 2019 by way of a reduction in the purchase price.
|18th November 2024||£39,808 pa||6.65%|
|18th November 2029||£43,951 pa||7.35%|
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 C64. 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 £570,000 (Five Hundred and Seventy Thousand Pounds) subject to contract for the freehold interest, which reflects a net initial yield of 6.03% assuming purchaser's costs at 4.96%.
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