Description
Retail Investment
5A Market Gate
WARRINGTON
WA1 2LJ
Let to Martin Retail Group Limited
LOCATION
Warrington is strategically located in the county of Cheshire, 18 miles south-west of Manchester, and 20 miles each of Liverpool. The town enjoys excellent motorway links via J9 of the M62, J21 of the M6, and via J10 of the M56. Warrington has a resident population of approximately 210,000.
The property is well situated, being on the pedestrianised Market Gate, adjacent to the recently redeveloped market area to the south. Market Gate links Bridge Street, Buttermarket Street and Sankey Street with the Golden Square Shopping Centre, and Times Square, and the new Warrington Market. Adjacent occupiers include HSBC, Donut Planet, Barclays Bank, Hays Travel, Burger King, Subway, etc.
DESCRIPTION
The premises provide a ground floor and basement, lock-up retail unit, which provides the following approximate floor areas:
Ground floor: 55.74 sq m (600 sq ft)
Basement store: 3.62 sq m (390 sq ft)
TENURE
The property is held on a 999 year ground lease from mid-2010 at a peppercorn rent.
TENANCY
The property is let to Martin Retail Group Limited on the basis of a 15 year full repairing and insuring lease from 8 October 2011, at an annual rent of £26,750 pa. The lease contains 5 yearly rent reviews together with tenant’s break options every 5 years of the term. There was also a tenant’s break option with effect from 7 October 2021, but the tenants chose not to exercise the break.
COVENANT INFORMATION
McColls trade from approximately 1,400 convenience stores and newsagents nationwide. Its brands include McColls, Martin’s and RS McColl, and the company has recently entered into a 3 year supply partnership with Morrison’s. The combined group has an annual revenue of £1.2 billion, and employs over 22,000 full and part-time staff, and is visited by over 5 million customers every week. Further information can be found at www.mccollsplc.co.uk/investors.
EPC
An Energy Performance Certificate can be made on application.
VAT
The property has been elected for VAT purposes, so it is envisaged the sale will be dealt with by way of a TOGC.
ANTI-MONEY LAUNDERING
In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.
PROPOSAL
We are instructed to seek offers in excess of £325,000 subject to contract, exclusive of VAT.
Similar properties in the area
Retail to let
4 Market Gate, Warrington, Cheshire, WA1 2LJ
1082 sq. ft (100.52 m²)
Please contact us for full details.
Retail for sale
25 Buttermarket Street, Warrington, Cheshire, WA1 2LY
725 sq. ft (67.35 m²)
Please contact us for full details.
Retail to let
Unit 1 Dolmans Lane, 3-4 Time Square, Warrington, WA1 2NT
1446 sq. ft (134.34 m²)
Please contact us for full details.
Retail to let
Former Barclays Bank, 4, Cairo Street, Warrington, WA1 1EE
3895 sq. ft (361.86 m²)
The premises occupy a central location fronting pedestrianised Cairo Street and in close proximity to the Golden Square Shopping Centre where occupiers include; H&M, Boots, JDSports and Kenji. The Hive WA1 has recently opened immediately adjacent to t...
Request a valuation of your property from local experts
Enquire now