McColl’s, Newton Abbot


24 Twickenham Road, Milber, Newton Abbott, Devon, TQ12 4JE

Offers in excess of
Type - Mixed
Tenant type - Various
  • Tenure: Freehold
  • Gross Rent: £25,946
  • Lease Term: 20 yrs from Sept '11
  • VAT applicable?: N

Property Description

  • Freehold, Blue-Chip Convenience Store & Residential Investment.
  • The property is a two storey brick building, end of  terrace, under a pitched tiled roof with a ground floor extension.
  • The unit is arranged as a ground floor shop with ancillary accommodation and a flat on the first floor.
  • 1,417 sq ft. on the ground floor (921 sq. ft. sales and 550 sq. ft. ancillary)
  • Car parking is available on the street and three spaces in front of the unit.

Location Description

  • Newton Abbot is a prosperous South-West market town with a catchment population of approximately 124,000.
  • The town benefits from good communications being located between the A380 and the A38.
  • The A380 provides direct access to Exeter, some 14 miles north, while the A38 is the main trunk road connecting Exeter to Plymouth and Cornwall.
  • Newton Abbot also has direct rail links to London Paddington, with a fastest journey time of approximately 2 hours 45 minutes.
  • The property is located in the residential suburb Milber, 1.5 miles east of Newton Abbott town centre

Additional Notes

  • The entire property is let to Martin McColl Limited for £25,946 p.a. on a 20 year FRI lease from 12/09/2011.
  • Rent reviews are 5 yearly and fixed at 2% p.a. compounded i.e. to £28,646 p.a in 2021 and £31,628 in 2026.
  • McColl’s trade from over 1,300 stores throughout the UK with approximately three quarters of those being convenience stores and the remainder trading as newsagents. For the year ending 30th November 2014 reported a turnover of £462.850m, a pre tax profit of £27.947m and shareholder’s funds of £117.307m. The combined group has a turnover in excess of £1bn. It employs nearly 20,000 full and part-tine staff and is visited by over 4.5m customers every week. The company floated on the London Stock Exchange in 2014.

Your Agent for this listing

Nilesh (2)

Nilesh Patel ACA

0203 113 2142

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