McColl's Convenience Store

Seascale, CA20 1PZ

Available

Property Type Investment
Availability For Sale
Size 2721 sqft
Energy Performance Rating N/A

Well located, refurbished and re-branded convenience store


LOCATION

Seascale is a village on the Cumbrian coast lying some 13 miles south of Whitehaven on the western edge of the Lake District National Park. It has a local population of circa 1,750 people although this is significantly extended by the rural catchment surrounding. The Sellafield Nuclear Reprocessing Plant is nearby which brings significant employment (some 10,000 people, 90% of whom are from West Cumbria) and economic activity to the area.

KEY POINTS

  • Refurbished and re-branded convenience store
  • Let for 16.5 years with no breaks to the excellent covenant Martin McColl Ltd
  • Fixed uplifts at 2% pa payable 5 yearly
  • Passing rent £25,754 per annum
  • Net initial yield of 6.47% and a reversionary yield in May 2022 to 7.19%
  • Offers in excess of £380,000
The property comprises a corner building of traditional construction under a pitched, slate roof formed over three storeys and a basement.  The retail shop is on the ground floor with ancillary accommodation towards the rear and basement.  The upper floors are residential accommodation but these are held by a third party on a long leasehold and, as such, do not form part of the beneficial interest. The property has been extensively refurbished and re-branded to McColl's standard format.
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Viewing & Further Information

For further information, or if you would like to arrange a viewing, please contact our agents:

Michael Braier

020 7478 9112

CONTACT AGENT


Nick Sherling

020 7478 9113

CONTACT AGENT


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