McColl's Convenience Store - Wrexham

Wrexham, LL12 0SA

Under Offer

Property Type Investment
Availability For Sale
Size 3466 sqft
Energy Performance Rating This property has been graded as D 79

McColl's convenience store located in a residential area


LOCATION

Wrexham is situated some 11 miles south of Chester and 30 miles north of Shrewsbury and is a popular market town and commercial centre serving a population of some 40,000. The A483 provides dual carriageway access to the M53/M56 at Chester and the town also enjoys regular rail services. The property is located in a densely populated residential area, directly opposite the store is Llay Park Community Primary School. The unit is situated on Fifth Avenue in a local neighbourhood retail parade, other occupiers include a pharmacy, an off-license, a taxi hire office and a take away restaurant.

KEY POINTS

  • Semi detached convenience store located in a residential area
  • The store is situated in a local neighbourhood retail parade
  • Let for 16.5 years with no breaks to the excellent covenant Martin McColl Limited
  • Total current rents reserved £36,055 per annum rising to £43,951 per annum in 2029
  • Fixed uplifts at 2% pa throughout
  • Net initial yield of 6.55% with a reversionary yield in November 2024 to 7.24%
  • Offers in excess of £525,000

ADDITIONAL INFORMATION

The property is a two storey semi-detached brick building under a part pitched and part flat roof. The convenience store is arranged over the ground floor with ancillary accommodation to the rear. The first floor is used for the manager’s office and staff accommodation. There is generous on-street car parking in front of the unit.

Ground Floor (Sales) 1,841 sq ft 171 sq m
Ground Floor (Ancillary) 495 sq ft 46 sq m
First Floor - (Managers Office) 1,130 sq ft 105 sq m
Total NIA 3,466 sq ft 322 sq m

TENURE

Freehold

TENANCY

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 an allowance on the day of completion in the purchase price.

RENT

Year Rent

Reversionary
Yield

18th November 2024 £39,808 pa 7.24%
18th November 2029 £43,951 pa 7.99%

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 D79. 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 £525,000 (Five Hundred and Twenty Five Thousand Pounds) subject to contract for the freehold interest, which reflects a net initial yield of 6.55% assuming purchasers costs at 4.8%.

< Back to properties VIEW SHORTLIST Download Marketing Brochure Download Lease.pdf Download Official Copy (Title Plan) - WA906871.PDF Download Official Copy (Title Plan) - CYM353881.PDF Download EPC - Wrexham Market.pdf Download RR - Wrexham.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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