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Property Type Investment Availability For Sale Size 3000 sqft Energy Performance Rating This property has been graded as D 85
LOCATION Woodbridge is an attractive and affluent town located along the banks of the River Deben. Situated in an Area of Outstanding Natural Beauty, some 8 miles east of Ipswich within close proximity to the Suffolk coast. The town is located just off the A12 which provides access to the A14. The property is situated in Hollesley, a residential village 7.5 miles south east of Woodbridge town centre. The unit is situated in The Street, the main thoroughfare for the village. Other occupiers in the village include a public house and a local car showroom/ mechanics. The store also benefits from being nearby Hollesley Primary School.
KEY POINTS Busy trading store located in an affluent village Only convenience store in the village benefitting from good customer parking in front of the unit The property is let for 16.5 years with no breaks to Martin McColl Limited Total current rents reserved £30,904 per annum rising to £34,121 per annum on 5th December 2024 Fixed uplifts at 2% pa compounded throughout offering guaranteed rental growth Offers in excess of £515,000 Net Initial Yield of 5.73% with a Reversionary Yield of 6.32% in May 2025 The building is a single storey detached property under a pitched and flat roof. The retail shop is arranged over the ground floor with ancillary and staff accommodation to the rear. The sales area incorporates a post office and provides a full range of grocery products, off licence and an ATM. There is ample customer car parking available in front of the store or on the street.
Ground - Sales 2,000 sq ft 186 sq m Ground - Ancillary 1,000 sq ft 93 sq m Total NIA 3,000 sq ft 279 sq m
Tenancy The whole property is let to Martin McColl Limited for a term of 16.5 years from the 5th June 2018 on FRI terms and subject to fixed uplifts at 2% per annum compounded throughout. The passing rent is £30,000 per annum. The vendor will top up the rent to £30,904 per annum from completion until 5th December 2019 by way of a reduction in the purchase price.
Rental Uplifts Year Rent Reversionary Yield 5th December 2024 £34,121 pa 6.32% 5th December 2029 £37,672 pa 6.98%
Covenant 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 year ending 26th November 2017 reported a turnover of £713.391 million, a pre-tax profit of £27.168 million and shareholder’s funds of £186.239 million.
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 company floated on the London Stock Exchange in 2014. Further information can be found at:
EPC The property has an EPC rating of D85. A copy of the EPC is available on our website.
VAT The property is not elected for VAT.
Proposal We are instructed to seek offers in excess of £515,000 (Five Hundred and Fifteen Thousand Pounds) subject to contract for the freehold interest, which reflects a net initial yield of 5.73% assuming purchaser's costs at 4.76%.
Convenience Store with Post Office Investment in Affluent Suffolk Village. Let for 16.5 years with no breaks.
Type: Residential, Retail
McColl's The Street, Woodbridge, IP12 3QUGBSuffolkIP12 3QUMcColl's, The Street
Situation The property is located in central Ipswich Lloyds Avenue which connects directly to the Cornhill and the main shopping thoroughfares of Tavern Street and Westgate Street, where there are a number of national retailers represented such as Debenhams, Marks and Spencers, WHSmith, Burtons and the two shopping centres, Sailmakers and The Buttermarket.
Description The property comprises 8 ground floor retail/restaurant premises, first floor self-contained offices and 4 ground rents from flats.
Tenancies The schedule of tenancies is attached. The properties currently produce a rental income of £170,100 per annum exclusive. There is one vacant unit (40 Lloyds Avenue). In December 2018 the rental income will increase to £172,100 and in February 2020 will increase to £197,100.
Price Offers in the region of £2,300,000 are requested for the freehold interest, subject to the existing tenancies, which represents a net initial yield of 6.6%.
Reversionary Freehold Commercial For Sale in Town Centre - 22-42 Lloyds Avenue