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Lot 7

Convenience Store let to Co-operative Group Food Ltd prod. £54,000 p.a.

6 Week Completion

Situation

Located at the junction with The Drive on this main arterial route (A56) into Manchester City Centre, amongst such multiples as Papa Johns and Pizza Hut and a variety of local traders all serving this popular residential suburb.
Sale forms part of Greater Manchester lying approx. 5 miles south-west of the City Centre enjoying easy access to the M60 (Junction 7).

Property

A corner building comprising a Ground Floor Convenience Store with internal access to Ancillary/Staff Accommodation on the first floor which we understand is mainly used for the overstock of goods which replenishes the ground floor sales via a purpose built internal lift.
The property benefits from an ATM Cash Machine and side access for loading. A service road at the front provides customer parking.

ACCOMMODATION¹

Ground Floor Convenience Store
Sales Area Approx. 2,446 sq ft
Internal Storage Area Approx. 325 sq ft
First Floor
Ancillary/Staff Area Approx. 1,444 sq ft

Total Area Approx. 4,215 sq ft

¹ Not inspected by Barnett Ross. Measurements taken from VOA.

VAT is applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Co-operative Group Food Limited (see Tenant Profile) for a term of 20 years from 3rd May 2016 at a current rent of £54,000 per annum exclusive.

Rent Reviews 2021, 2026 and 2031 (linked to CPI, collared at 1% and capped at 4%) - Based on the Consumer Price Index, if the Rent Review had taken place as at May 2020 the Rent would have risen to £58,567.90 p.a.

Tenant's Break 2026

Tenant Profile

Co-operative Group Food Limited is a wholly owned subsidiary of Co-operative Group Limited having more than 2,500 stores (visit: www.coop.co.uk).

*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.

384 Washway Road, Sale, Cheshire M33 4JH