Just Car Clinics,Wescoates Road Grimsby, Lincolnshire DN31 2SY
Location Estimated Resident Population: 87,500 Miles: 30 miles south-east of Hull 43 miles north-east of Lincoln
Roads: A1(M), A180, M18, M180
Position The property is located to the north ofWestcoates Road, close to its junction with Moody Lane, a short distance from the A180 in an established industrial and motor trade location.
Nearby: Honda, Volkswagon, SEAT and Shell.
Description MOTOR TRADE/CAR REPAIR CENTRE arranged on the ground floor only. The property benefits from surfaced car park/yard areas to its eastern and western elevations with approximately 104 marked spaces. The site extends to 0.67 hectares (1.65 acres) and has a site coverage of 27%.
Ground
Accommodation Warehouse/Office
Tenure Freehold.
Tenant JUST CAR CLINICS LIMITED (1)
Lease Term: 30 years from 15th July 2002 Basis: FRI Rent: £120,681 per annum (2) Fixed Rental Increases: 2017 – £139,902 per annum 2022 – £162,185 per annum 2027 – £188,017 per annum
Expiry: July 2032
VAT is applicable to this lot – please see Special Conditions of Sale.
CAR CLINIC
WESTCOATES ROAD For identification purposes only – please see title documentation.
(1) Just Car Clinics is the second largest accident repair and car care company in the UK with 24 centres throughout England. For the year to 12/10, they reported a total turnover of £46.5 million, pre-tax profits of £1.3 million and total shareholders’ funds of £3.1 million. (Source: www.justcarclinincs.co.uk and One Source One-Stop Report)
(2) The current rent passing in the lease is £104,100 per annum. This rent is due to increase in July 2012 to £120,681 per annum. The Vendor has agreed a completion date of 16th July 2012 to coincide with this fixed rental increase – please see Special Conditions of Sale. (3) Areas provided by the Vendor.
Freehold Motor Trade/ Car Repair Centre Investment • Let to Just Car Clinics Limited • Lease expires July 2032 (no breaks)
• Fixed rental uplifts throughout the term (3% per annum)
• 16th July Completion
The Special Conditions of Sale and a legal pack are available from the Seller’s Solicitors and are available online at www.cbre.co.uk/auctions. Seller’s Solicitor Hill Dickinson LLP. t: 0151 600 8089. e: alex.mccann@hilldickinson.com Ref: A McCann Esq.