McColl's Convenience Store

Milford Haven, Pembrokeshire, SA73 1TF

Available

Property Type Investment
Availability For Sale
Size 2881 sqft
Energy Performance Rating This property has been graded as C 56

Well Secured Large Convenience Store Investment. Let to a 5A1 Covenant for 16.5 Years with No Breaks


LOCATION

Milford Haven is situated on the north side of the Milford Haven estuary which is one of the country’s largest natural harbours. The town, with a population of some 13,200, is a major port and oil terminal having a number of oil refineries. The town is served by the A4076 which provides access to the A40 at Haverfordwest, some 7 miles to the north. The property is situated in Neyland, a small town which is 7 miles south of Haverfordwest on the Pembrokeshire coast lying on the River Cleddau and the upstream end of the Milford Haven estuary. Neyland benefits from being nearby the Cleddau Bridge carrying the A477 links to Pembroke Dock with Neyland.

KEY POINTS

  • Busy trading large convenience store situated on Milford Haven Estuary on the picturesque Pembrokeshire coast
  • The store benefits from decent car parking available on the side street adjacent to the property
  • Let for 16.5 years with no breaks to Martin McColl Limited with a guarantee from McColl’s Retail Group Plc
  • Total current rents reserved £37,085 pa rising to £40,945 pa on 19th February 2026
  • Fixed uplifts at 2% pa compounded throughout offering guaranteed rental growth
  • Net Initial Yield of 6.25% with a reversionary yield of 6.91% in February 2026
  • Offers in excess of £565,000

Additional Information

The building is part single, part two storey detached building.  The retail shop is arranged over the ground floor with ancillary and staff accommodation to the rear. The first floor is void with no access.

The premises benefits from good on street car parking on the side street adjacent to the unit.

Ground - Sales 2,250 sq ft 209 sq m
Ground - Ancillary 631 sq ft 59 sq m
Total 2,881 sq ft 268 sq m

Tenure

Freehold.

Tenancy

The whole property is let to Martin McColl Limited for a term of 16.5 years from 19th August 2019 on FRI terms and subject to fixed uplifts at 2% per annum compounded throughout.  The passing rent is £36,000 per annum. The vendor will top up the rent to £37,085 per annum from completion until 19th February 2021 by way of a reduction in the purchase price.

Rental Uplifts

YEAR RENT REVERSIONARY
YIELD
19th February 2026 £40,945 pa 6.91%
19th February 2031 £45,207 pa 7.62%

Covenant

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 25th November 2018 reported a turnover of £835.333 million, a pre-tax profit of £34.718 million and shareholder’s funds of £218.271 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:

https://www.mccollsplc.co.uk/investors

EPC

The property has an EPC rating of C56. A copy of the EPC is available on our website.

VAT

The property is not elected for VAT.

Anti-Money Laundering Regulations

In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.

Proposal

We are instructed to seek offers in excess of £565,000 (Five Hundred and Sixty Five Thousand Pounds) subject to contract for the freehold interest, which reflects a Net Initial Yield of 6.25% assuming purchaser's costs of 4.94%.

< Back to properties VIEW SHORTLIST Download Marketing Brochure Download EPC.pdf Download Official Copy (Title Plan) - CYM370537.PDF Download Official Copy (Title Plan) - CYM413689.PDF Download Lease dated 19 August 2019.PDF

Viewing & Further Information

For further information, or if you would like to arrange a viewing, please contact our agents:

Michael Braier

020 7478 9112

CONTACT AGENT


Nick Sherling

020 7478 9113

CONTACT AGENT


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