LOT 58 - Denbigh

79, Rhyl Road, Denbigh, LL16 5TG

Freehold Convenience Store Investment

Sale Price

£180,000

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Freehold Convenience Store Investment

  • Let to Martin McColl Ltd
  • Lease expires November 2022
  • Includes large car park to the side
  • Current Rent Reserved

£19,201 pa


SIX WEEK COMPLETION AVAILABLE

 

Tenure

Freehold.

Location

Denbigh is a market town in the Vale of Clwyd 10 miles south of Rhyl, 8 miles north of Ruthin and 32 miles west of Chester. Road communications are provided by the A543 and A525, the latter affording access to the A55.
The property is located on the west side of Rhyl Road, approximately 1 mile to the north-east of Denbigh town centre. To the rear of the property is the town’s main industrial area and opposite is a largely residential area.
Occupiers close by include a Shell garage and a number of local traders.

Description

The property is arranged on ground floor only to provide a detached ground floor shop. Externally, there are approximately 16 parking spaces to the side.
The property provides the following accommodation and dimensions:
Ground Floor 92.95 sq m (1,001 sq ft)
Rear Store (Detached) 18.65 sq m (201 sq ft)
Total 111.60 sq m (1,201 sq ft)

Tenancy

The entire property is at present let to Martin McColl Ltd for a term of 15 years from 21st November 2007 at a current rent of £19,201 per annum. The lease provides for rent reviews every fifth year of the term rising to a maximum of 2.5% per annum compounded and contains full repairing and insuring covenants.

Tenant Information

Martin McColl Ltd is the UK’s number one neighbourhood retailer with over 1,600 managed convenience stores.
Website Address: www.mccolls.co.uk
For the year ended 27th November 2016, Martin McColl Ltd reported a turnover of £518.736m, a pre-tax profit of £25.631m, shareholders’ funds of £160.391m and a net worth of £111.606m. (Source: Experian 11.04.2018.)

VAT

VAT is applicable to this lot.

Documents

The legal pack will be available from the website www.allsop.co.uk

Energy Performance Certificate

EPC Rating 69 Band C (Copy available on website).

Seller's Solicitor

T Parry Esq, Rees Roberts.
Tel: 0151 255 1300
Email: tony@rees-roberts.com

Joint Auctioneer

Tom Gibson, Mason & Partners.
Tel: 0151 225 0130
Email: tomgibson@masonpartners.com
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