National Tyres & Toolstation Investment

Units 1 And 2, 58a Gateford Road, Worksop, Nottinghamshire, S80 1EB

£950,000

8,200 Sq Ft

Key Features

  • Reflects a capital value of £115 psf
  • Headline rent of £66,700 p.a. from February 2021
  • Unit 1 let to National Tyres 15 years from 2018
  • Unit 2 let to Toolstation Ltd 10 years from 2017
  • Desirable COVID resilient sector
  • Asda Supermarket also situated on Gateford Road
  • Popular and established commercial location
  • North of Worksop town centre

Full description

Toolstation and National Tyres investment. Built 2017 the site comprises two detached trade counter units of a traditional steel portal frame construction with cavity block and brick elevations beneath a pitched insulated roof. Set within a well appointed site providing 22 designated spaces, HGV layover and deliveries. Unit 1 is tenanted by National Tyre Service Ltd (T/A ) National Tyres and Autocare who were formed in 1970 and now have over 235 branches across the UK. The annual report for the year ending 31st December 2019 shows net assets of £14,157,000 with profit for the year as £4,947,000. Unit 2 is tenanted by Tool Station Ltd who were formed 2002 and now have over 400 branches across the UK. The annual report for the year ending 31st December 2019 shows net assets of £63,100,000 with an operating profit for the year as £25,600,000.

Location

Worksop is a market town in the Bassetlaw district of Nottinghamshire. The town is situated approximately 14 miles north of Mansfield and 19 miles southeast of Sheffield. The site is located north of Worksop town centre on Gateford Road (the B6041) which links with the A57 to the north and A60 to the south. The immediate vicinity is predominantly commercial with a range of high street shops to the south and St John Church to the north. The main Worksop Gateford Asda supermarket is also situated on Gateford Road 1.5 miles north.

Services

All mains services with the exception of gas are connected to each property.

VAT

All figures are quoted exclusive of VAT, we are advised the property is registered for VAT which is applicable at the prevailing rate.

EPC

Unit 1 - B(44) uNIT 2 - B(33)

Viewing

Tenants are unaware, discreet external inspections are possible. Internal inspections are by prior arrangement.

Accommodation

The accommodation has been measured on a Gross Internal Area (GIA) with the measurements taken from the VOA record for Business Rates.

Floor Sq Ft Sq M
Unit 1 Ground 3,572 332
Unit 1 Mezz 917 85
Unit 2 3,710 345

Business Rates

The properties are currently listed as an vehicle repair workshop and a retail warehouse and premises on VOA.gov.uk. The respective Rateable values are: Unit 1 - £15,750 Unit 2 - £37,500

Tenure

Freehold

The site is offered freehold and is being sold subject to the following tenancies: Unit 1 is let to National Tyre Service Ltd for a term of 15 years from the 27th February 2018. The lease is drawn on a typical full repairing and insuring basis with an initial rent of £31,250 p.a. rising to £37,500 p.a. 27th February 2021. There is an upward only open market review on the 5th anniversary of the term and a tenant break on the 10th anniversary of the term. Unit 2 is let to Toolstation Ltd for a term of 10 years from the 2nd November 2017. The lease is drawn on a typical full repairing and insuring basis with an initial rent of £29,200 p.a. There is an upward only open market review on the 5th anniversary of the term and a tenant break on the 6th anniversary of the term, subject to 12 months notice.

Anti-Money Laundering (AML)

Any offer accepted is subject to completing AML checks.

Particulars Updated

02 Dec 2020


Important Notice

  1. Omeeto are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made by word of mouth or in writing.
  2. These particulars do not form part of any offer or contract and “information” must not be relied upon as statements, representations or facts.
  3. All measurements, areas and distances are approximate and for guidance. All descriptions, conditions, permission for use and occupations should not be relied upon and it should not be assumed that the property has all necessary planning, building regulation or other consents. Services, equipment and facilities etc have not been tested. Any interested party must satisfy themselves on these matters by inspection, independent advice or otherwise.
  4. Photos, video’s, virtual tours etc show only certain parts of the property as they appeared at the time of inspection.

Map data ©OpenStreetMap contributors.

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