Lot

74

104 Astley Street, Dunkinfield, Ashton under Lyne, SK16 4JU

Property Enquiries

Oliver Childs

oliver.childs@bidx1.com
020 3929 8289

Viewing Registration / Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Lawyer

Stephen Goldberg

stephen@nmholdings.co.uk
020 8 457 3250

Description

Map

Viewings


Property Summary
  • Freehold convenience store investment
  • Let to Martin McColl Limited until 2034 (no breaks)
  • Fixed uplifts at 2% pa throughout
  • Current rent £36,055 per annum
Tenure

Freehold

Location

The town of Dukinfield is located within the Metropolitan Borough of Tameside in Greater Manchester, 6 miles east of Manchester city centre on the south bank of the River Tame. The town is located immediately to the south of Ashton-under-Lyme on the A627, 1.5 miles east of the M60 (Junction 23). The property is situated just off the main through road A627 on Astley Street where there are a number of other local occupiers.

Description

The property comprises a large single storey detached brick building under a flat roof. The retail shop is arranged over the ground floor with large ancillary and staff accommodation to the rear. There is a large rear access for deliveries and on street parking available in front of  the unit. 

Tenancy

Please refer to legal documents

Planning

Thameside Metropolitan Borough Council (0161 342 8355) www.thameside.gov.uk

VAT
Please refer to Legal Documents
Property Table
UnitAccommodationTenantTenancyRent £pa
104 Astley Street

Ground floor sales 264.00 sq m (2,841 sq ft)

Ground floor ancillary 115.00 sq m (1,240 sq ft)

Martin McColl Ltd16.5 years from 18/05/2018£36,055
TOTAL   £36,055

The measurements have been provided by the seller.
(1) The passing rent is £35,000 per annum. The vendor will top up the rent to £36,055 per annum from completion until 18th November 2019 by way of an allowance in the purchase price. 
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 www.mccolls.co.uk/investor

EPC

EPC rating 64 Band C.  A copy is available within the legal pack.

*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,000 (inclusive of VAT) charged by BidX1. In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount of £4,500 from all bidders. This participation amount is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,500 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee of £1,000 inc. VAT payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
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