|Energy Performance Rating||This property has been graded as D 94|
McColl's Convenience Store
St Helens is a major industrial and commercial centre with a population of some 106,000 and comprises part of the extensive Merseyside conurbation. Liverpool lies within 12 miles to the west and Manchester 30 miles to the east. There are excellent road transport communications being between the M6 and M62 motorways, both of which are within approximately 5 miles. The property is situated in Parr, a residential suburb 1 mile east of St Helens city centre. The store is situated in a densely populated residential area surrounded by abundant of housing. In addition, there is a new development of 25 x 1 bedroom apartments currently being developed opposite the unit.
- Located in a residential suburb 1 mile east of St Helens town centre
- Let for 16.5 years with no breaks to the excellent covenant Martin McColl Limited
- Fixed uplifts at 2% pa
- Total current rents reserved £25,754 per annum rising to £31,394 per annum in 25th February 2030
- Net initial yield of 5.88% with a reversionary yield in February 2025 to 6.49%
The building is a two storey end of terrace building under a pitched slate roof. The retail shop is arranged over the ground floor with ancillary and staff accommodation to the rear. In addition, part of the first floor is also being used as ancillary and staff accommodation.
The premises benefits from a large public car park adjacent to the unit.
|Ground Floor (Sales)||860 sq ft||80 sq m|
|Ground/First (Ancillary)||1,623 sq ft||152 sq m|
|Total NIA||2,483 sq ft||232 sq m|
The property is let to Martin McColl Limited for a term of 16.5 years from the 21st August 2018 on FRI terms and subject to fixed uplifts at 2% per annum compounded throughout. The passing rent is £25,000 per annum. The vendor will top up the rent to £25,754 per annum from completion until 25th February 2020 by way of a reduction in the purchase price.
|25th February 2025||£28,434 pa||6.49%|
|25th February 2030||£31,394 pa||7.17%|
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 http://www.mccolls.co.uk/investor.
The property has an EPC rating of D94. 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 £420,000 (Four Hundred and Twenty Thousand Pounds) subject to contract for the freehold interest, which reflects a net initial yield of 5.88% assuming purchasers costs at 4.3%.
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