Acquired
Ellesmere Port – Kwik-Fit
Halfords Autocentre, 510 Chester Road, Little Sutton, Ellesmere Port, Cheshire CH66 3REMotor Trade Investment
Investment Consideration
- Option to purchase Freehold for £1 (1)
- Let to Kwik-Fit Properties Limited until 2031 (no breaks)
- Guaranteed by Kwik-Fit Holdings Limited until 2031
- Comprising 2,880 sq ft on a 0.27 acre site
- Occupiers close by include Tesco Express (adjacent) and Ladbrokes (opposite) in a predominantly residential area
VAT
VAT is not applicable.
Property Description
The property is arranged as a motor garage with shop let to Kwik-Fit Properties Limited. Comprising 2,880 sq ft on a 0.27 acre site.
Leasehold. Held on a lease for a term of 999 years from 19th August 1996 at a fixed ground rent of £2 per annum. The Headlease contains options to purchase and a right of pre-emption for £1 in respect of the freehold interest (1)
Leasehold. Held on a lease for a term of 999 years from 19th August 1996 at a fixed ground rent of £2 per annum. The Headlease contains options to purchase and a right of pre-emption for £1 in respect of the freehold interest (1)
Tenancy Description
The shop is at present let to Kwik-Fit Properties Limited for a term of 35 years less 1 day from and including 19 August 1996 to and including 17 August 2031, at a current rent of £42,224.13 per annum. The lease contains an option to renew and has full repairing and insuring covenants. Annual rent reviews linked to RPI with a 2% Cap. The Property has been sublet to Nationwide Autocentres Limited pursuant to a lease dated 26.02.2004 and for a term from and including 13.02.2003 to and including 14.08.2031. Next rent review is in September 2020.
Tenancies & Accommodation
Location Description
Ellesmere Port is located on the Wirral peninsula, some 11 miles south of Liverpool and 8 miles north of Chester. The town is served by the M53 Motorway, providing access to the M56 Motorway and hence to the M6, Manchester, Liverpool and the North West. The property is situated in a suburb of Ellesmere Port called Little Sutton, located to the north west of the main town. The property is situated on the west side of Chester Road (A41), between its junctions with Wetherby Way and Ledsham Road (B5463).
