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Lot 12

Approx. 10 years unexpired to
Martin McColl Ltd with no breaks

Situation

Located in a suburb of this market town serving the surrounding residential population.
Mexborough lies approx. 5 miles north of Rotherham and 7 miles west of Doncaster, benefitting from good road links being only 4 miles east of the A1(M) via the A6023.

Property

A single storey building comprising a Ground Floor Convenience Store with onsite parking for 5-6 cars. In addition, there is also roadside parking available opposite.

Accommodation

Ground Floor Convenience Store
Gross Frontage 87'8”
Internal Retail Width 56'8”
Shop & Built Depth 33'7”
Sales Area Approx 1,870 sq ft
Store Area Approx 730 sq ft
Office, Chiller Cabinets, Kitchen, WC

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Martin McColl Limited (see Tenant Profile) for a term of 20 years from 11th January 2010 at a current rent of £27,427 per annum exclusive (see Note 1).

Rent Review 2025

Note 1: The current rent is £24,842 p.a. which increases to £27,427 p.a. on 11th January 2020 which is prior to completion of this sale.

Note 2: 6 Week Completion

Tenant Profile

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 Y/E 25/11/18, Martin McColl Ltd reported a T/O of £835.3m, Pre-Tax Profits of £34.7m and Shareholders' Funds of £218.3m.
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 group company floated on the London Stock Exchange in 2014 and further information can be found at: www.mccollsplc.co.uk/investors

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

35 Cedar Avenue, Mexborough, South Yorkshire S64 9RT