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Available Property Type Investment Availability For Sale Size 2293 sqft Energy Performance Rating This property has been graded as C 63
LOCATION The city of Stoke-on-Trent is a major employment centre located midway between Birmingham and Manchester, immediately adjacent to the M6 motorway (Junction 15). The city is well known for its industrial base in the pottery industry and was created by the amalgamation of the former Stoke-on-Trent and the towns of Burslem, Fenton, Hanley, Tunstall and Longton in 1910. The property is situated in Burslem, a town 3.5 miles north of Stoke-on-Trent city centre with a population in excess of 11,000. Burslem is located on the eastern ridge of the Fowlea Valley within the authority of Stoke-on-Trent. The premises is located on the busy B5051 road leading into Burslem town centre in a primarily residential area. The unit is situated in a secondary retail parade with other local occupiers including takeaway restaurants, tanning salon, hairdressers and a pharmacy. There is significant residential housing directly behind and opposite the premises.
KEY POINTS Well situated convenience store in local retail parade First and second floor flats unused Whole property let for 16.5 years with no breaks to Martin McColl Limited with a guarantee from McColl’s Retail Group Plc Total current rents reserved £25,239 per annum rising to £27,866 per annum on 19th May 2025 Fixed uplifts at 2% pa compounded throughout offering guaranteed rental growth
Additional Information The property is a three storey mid terraced brick building under a pitch slate roof. The retail shop is arranged over the ground floor with ancillary and staff accommodation to the rear. There are large first and second floor flats that are currently unused by the tenant. There is ample car parking available opposite the unit.
Ground - Sales 1,445 sq ft 134 sq m Ground - Ancillary/Staff Accommodation 848 sq ft 79 sq m First & Second - Unused Flats - - Total 2,293 sq ft 213 sq m
Tenancy The whole property is let to Martin McColl Limited for a term of 16.5 years from the 20th November 2018 on FRI terms and subject to fixed uplifts at 2% per annum compounded throughout. The passing rent is £24,500 per annum. The vendor will top up the rent to £25,239 per annum from completion until 19th May 2020 by way of a reduction in the purchase price.
Rental Uplifts YEAR RENT REVERSIONARY YIELD 19th May 2025 £27,866 pa 6.69% 19th May 2030 £30,766 pa 7.38%
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 C63. A copy of the EPC is available on our website.
VAT The property is elected for VAT which will be chargeable on the purchase price. It is anticipated the transaction is to be treated as a transfer of going concern (TOGC).
Proposal We are instructed to seek offers in excess of £400,000 (Four Hundred Thousand Pounds) subject to contract for the freehold interest, which reflects a Net Initial Yield of 6.06% assuming purchaser's costs at 4.18%.
Well Secured Convenience Store Investment. Let to a 5A1 Covenant for 16.5 years with no breaks.
Mc Coll's Convenience Store, 171/173 Newcastle Street, Stoke-On-Trent, ST6 3QJGBStaffordshireST6 3QJMc Coll's Convenience Store, 171/173, Newcastle Street
ADDRESS: 128 – 130 Werrington Road, Bucknall, Stoke on Trent, Staffordshire ST2 9AJ • Prominent Location • Both buildings let to Lloyds Pharmacy Ltd. LOCATION Bucknall is located just 1 mile north of Stoke, enjoying easy access to the M6 (Junction 15) via the main A500 and being 32 miles south of Manchester and 40 miles north of Birmingham. SITUATION: Located adjacent to the Cambridge House Doctors’ Surgery on this busy main road in an attractive residential area. DESCRIPTION Two detached properties comprising two ground floor shops with separate side access to a self – contained flat at first floor level and the other having internal access to Ancillary Accommodation at first floor level. ACCOMMODATION No 128 – Ground Floor Shop: Internal Width – 16’4’’, Shop Depth – 36’8’’, Built Depth – 53’8’’, Sales – 600 Sq. Ft. (Approx), Dispensary – 180 Sq. Ft. (Approx), Storage / Staff – 360 Sq. Ft. (Approx) First Floor Flat – 3 Rooms, Kitchen and Bathroom/WC. No. 130 – Ground Floor Shop: Gross Frontage – 28’0’’, Built Depth – 31’6’’ First Floor Ancillary Accommodation – Not Inspected. TENANCY The entire property is let on a full repairing and insuring lease to Lloyds Pharmacy Ltd for a term of 10 years from 26 June 2013 at a rental of £12,000 per annum exclusive. The flat above No 128 and the entire property at No 130 are sublet. RENT: £12,000 per annum. TENURE: Freehold VAT IS: Not Applicable. PRICE: Offers in excess of £ 290,000
Freehold Retail Investment Let to Lloyds Pharmacy Ltd – Bucknall