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McColl’s, Alford

21 Market Pl, Alford LN13 9EB, UK

Basic Facts

Property ID: 4875 Post Updated: 2021-03-31 11:50:27
Status: Type:
Tenure: Freehold Area: 1050 sq ft
Gross Rent: £ 22,747 Gross Yield %: 7.6
Lease Term: 16.5 years from Nov '16 Lease Term Expiry Date: 01/11/32
Years left on Lease: 8.6 VAT applicable: No

Property Description

  • Freehold, Blue-Chip Convenience Store Investment.
  • The property is arranged on a 1,020 sq ft ground floor shop level with a cellar and separate rear access to a self-contained upper part residential accommodation at first and second floor level.
  • The property is Grade II Listed

Location Description

  • The property is situated in the heart of this historic market town between West Street and East Street, opposite a public car park.
  • Close-by occupiers include Lloyds Bank and a Post office, also a host of established local traders.
  • Alford lies on the main A1104 some 7 miles south or Mablethorpe and 30 miles east of Lincoln, enjoying easy access to the A16 Trunk Road and the main A158 which links to the A46 and the A1(M).

Tenancy & Accommodation

  • Ground floor let to Martin McColl Limited for a term of 16.5 years from November 2016 for £22,747 p.a. FR&I
  • McColls have approx 1,550 convenience stores and newsagents across England, Scotland and Wales (www.mccolls.co.uk). For the year ended 25/11/18 Martin McColl Limited reported a turnover of £835,333,000, pre-tax profits of £34,718,000, shareholder’s funds of £218,271,000 and a net worth of £71,797,000 (Experian 23.02.2021)
  • The rent is subject to a fixed increase of £25.115 p.a. on 24th May 2028
  • The upper floors have been sold off on a term of 125 years from 25.01.2008 at a peppercorn annual rent.

Features

Attractive property
Blue-chip tenant
Finance available
Freehold
Lease term: 10 - 15 years
Minimum Rental Uplifts
No Break clauses
No VAT applicable
Under £500k

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