McColl's Convenience Store

Tyldesley, M29 7DY

Property Type Investment
Availability For Sale
Size 2421 sqft
Energy Performance Rating This property has been graded as C 67

Prominently Located Convenience Store Investment. Let to McColl's Retail Group Plc for 16.5 years with no breaks.


LOCATION

Tyldesley, a populated town in Greater Manchester and a residential suburb situated some 10 miles west of Manchester city centre. There are excellent communications via the M60, M61 and M62 motorways and Manchester Airport is 17 miles to the south-east of the town. The store is situated on the busy Manchester Road A527 in Astley, a large village continuous with Tyldesley. The store benefits from being situated nearby a number of local schools and directly opposite a public house. Other occupiers in the village include funeral directors, Indian restaurant, Rowlands pharmacy, doctors surgery and a flooring company.

KEY POINTS

  • Well located convenience store in local suburban retail parade
  • Whole property is let for 16.5 years with no breaks to Martin McColl Ltd with a guarantee from McColl’s Retail Group Plc
  • Fixed uplifts at 2% pa compounded throughout offering guaranteed rental growth
  • Total current rents reserved £25,754 pa rising to £28,434 pa on 21st August 2025
  • Offers in excess of £410,000
  • Net Initial Yield of 6.03%, with a Reversionary Yield of 6.65%

ADDITIONAL INFORMATION

The building is a detached corner brick building under a pitched tiled roof.  The retail shop is arranged over the ground floor with ancillary and staff accommodation to the rear.

There is car parking available on the street and the road adjacent to the unit.

Ground Floor - Sales 1,786 sq ft 166 sq m
Ground Floor - Ancillary 635 sq ft 59 sq m
Total NIA 2,421 sq ft 225 sq m

TENURE

Freehold.

TENANCY

The whole property is let to Martin McColl Ltd for a term of 16.5 years from 21st February 2019 on FRI terms and 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 21st August 2020 by way of a reduction in the purchase price.

RENT

Year Rent

Reversionary
Yield

21st August 2025 £28,434 pa 6.65%
21st August 2030 £31,394 pa 7.35%

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 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.

EPC

The property has an EPC rating of C67. A copy of the EPC is available on our website.

VAT

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).

PROPOSAL

We are instructed to seek offers in excess of £410,000 (Four Hundred and Ten Thousand Pounds) subject to contract for the freehold interest, which reflects a Net Initial Yield of 6.03% assuming purchaser's costs at 4.24%.

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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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