TENUREBusiness for sale, Investment Opportunity, For Sale Freehold
POSTED ON17th November 2020
Toolstation and National Tyres investment. Built 2017 the site comprises two detached trade counter units of a traditional steel portal frame construction with cavity block and brick elevations beneath a pitched insulated roof. Set within a well appointed site providing 22 designated spaces, HGV layover and deliveries.
Unit 1 is tenanted by National Tyre Service Ltd (T/A ) National Tyres and Autocare who were formed in 1970 and now have over 235 branches across the UK. The annual report for the year ending 31st December 2019 shows net assets of £14,157,000 with profit for the year as £4,947,000.
Unit 2 is tenanted by Tool Station Ltd who were formed 2002 and now have over 400 branches across the UK. The annual report for the year ending 31st December 2019 shows net assets of £63,100,000 with an operating profit for the year as £25,600,000.
Worksop is a market town in the Bassetlaw district of Nottinghamshire. The town is situated approximately 14 miles north of Mansfield and 19 miles southeast of Sheffield.
The site is located north of Worksop town centre on Gateford Road (the B6041) which links with the A57 to the north and A60 to the south. The immediate vicinity is predominantly commercial with a range of high street shops to the south and St John Church to the north. The main Worksop Gateford Asda supermarket is also situated on Gateford Road 1.5 miles north.
All mains services with the exception of gas are connected to each property.
All figures are quoted exclusive of VAT, we are advised the property is registered for VAT which is applicable at the prevailing rate.
Unit 1 - B(44) uNIT 2 - B(33)
The accommodation has been measured on a Gross Internal Area (GIA) with the measurements taken from the VOA record for Business Rates.
The site is offered freehold and is being sold subject to the following tenancies:
Unit 1 is let to National Tyre Service Ltd for a term of 15 years from the 27th February 2018. The lease is drawn on a typical full repairing and insuring basis with an initial rent of £31,250 p.a. rising to £37,500 p.a. 27th February 2021. There is an upward only open market review on the 5th anniversary of the term and a tenant break on the 10th anniversary of the term.
Unit 2 is let to Toolstation Ltd for a term of 10 years from the 2nd November 2017. The lease is drawn on a typical full repairing and insuring basis with an initial rent of £29,200 p.a. There is an upward only open market review on the 5th anniversary of the term and a tenant break on the 6th anniversary of the term, subject to 12 months notice.
National Tyres and Toolstation Investment ( Agency Pilot Software Ref: 33 )