Retail premises for sale in Clipsley Lane, St Helens WA11

Investment Consideration:
Gross Initial Yield: 7.77%
Current Rental Income: £27,200 p.a.
VAT is not applicable to this property
Convenience store let and t/a Premier with guarantee from One Stop Stores Ltd until 2028
The warehouse unit is let to Auto Rouge Ltd for term of 3 years
The property is within close proximity to public transport links and is just a 10 minute drive away from St Helens town centre.

Property Description:
The property is arranged on ground floor only to provide a convenience store incorporating a Post Office with ancillary accommodation together with a separate industrial warehouse and loading yard, which is located to the rear and separately let. The end terrace industrial unit with B2 use comprises of a roller shutter door accessed via Clipsley Lane, storage area and user facilities including a WC and kitchen. There is also strip lighting throughout with central heating.

The property provides the following accommodation and dimensions:
Ground Floor Shop: 257.60 sq m (2,773 sq ft)
Shop Frontage: 71 ft on Clipsley Lane
Industrial Unit: 116 sq m (1,248 sq ft)

Tenancy:
The shop is at present let to S Rama and S Naveed (on assignment) t/a Premier with a guarantee from One Stop Stores Limited for a term of 15 years from
29th October 2013 at a current rent of £22,000 per annum. The lease provides for rent review on 29.10.23 and tenant has option to break on 29.10.23. The lease contains effectively full repairing and insuring covenants. The warehouse unit is at present let to Auto Rodge Ltd for a term of 3 year from 3rd July 2020 at a current rent of £5,200 per annum. The lease contains effectively full repairing and insuring covenants. Deposit is held of £600.

Tenure:
Virtual Freehold. Held for a term of 999 years from 1st April 1913 (thus having approximately 892 years unexpired) at a fixed ground rent of £10 per annum.

Location:
The property is within close proximity to public transport links and is just a 10 minute drive away from St Helens town centre. Haydock is located within the metropolitan borough of St Helens and is located roughly midway between Liverpool and Manchester and lies adjacent to Junction 23 of the M6 Motorway and the East Lancashire Road (A580). The property is situated on the south side of Clipsley Lane (A599), close to its junction with Gardner Avenue.