• Highly prominent location

• Property is surrounded by complementary businesses

• VAT Free

• Lease guaranteed by Appleby Westward Group (Turnover £169m, Net Worth £35m)

• Over 15.5 years unexpired with no breaks

• 5 yearly fixed rental uplifts

• Average of over £1.8 million annual turnover for convenience store

• Approximately £6 million of fuel sales per annum

• Income £167,914 per annum

• Price £2,100,000, subject to contract

• Net Initial Yield of 7.52%

• Guaranteed Reversionary yield 8.30% in June 2028 and 9.17% in June 2033.

The property is situated at a midway point on The Grove at its junction with Westleace. The Grove connects the town centre with the A37, one of the principal routes in and out of Dorchester.

Complementary occupiers in the immediate vicinity include a Volkswagen showroom (adjacent), a Mercedes-Benz showroom, a Nissan showroom, a Mitsubishi showroom and a Lidl supermarket with a large car park.

This makes the immediate location perfect for a petrol station, car wash and convenience store. The station is also one of few LPG stations in Dorset.

The property comprises a SPAR convenience store and BP branded fuel filling station with 4x8 pumps, BP Autogas (LPG), a car wash, on the ground floor and an office on the first floor.

The Spa convenience store is fitted out in line with the SPAR corporate style offering general convenience goods, a Costa express, a deli and an off licence.

There is an ATM and a self-service air pump and vacuum on site.

The total site area is approximately 0.29 acres.

A Phase 2 Environmental Report was undertaken by Geo2 in October 2021 and concludes that the site is considered a Low risk to human health receptors and a Low/Moderate risk to controlled water receptors. The Phase 2 report is available to download in the dataroom and will be re-addressed to a purchaser at a cost of £500 + VAT.

Freehold.

Appleby Westward Group Limited (Co. No. 01791158) has reported the following figures:

The principal activity of Appleby is to sell foods, spirits, wines and tobacco products through SPAR convenience stores and supermarkets. The SPAR brand operates from more than 13,500 stores across 48 countries.

Appleby Westward Group operates over 130 convenience stores under the SPAR brand in the South West of England and hold the franchise for the entire West Country from Chichester to Lands End.

The ultimate holding company is The SPAR Group Limited who are an international group of independently owned and operated retailers and wholesalers who work together in partnership under the SPAR brand. The company is the world’s leading voluntary food retail chain.

Wessex Retail Limited (Co. No. 12205715) has reported the following figures:

The principal activity of Wessex Retail Limited is operating retail convenience stores under the SPAR brand in the Southwest of England.

The property has not been registered for VAT and therefore VAT is not applicable on the purchase price.

1. An opportunity to acquire a long-let convenience store and petrol filling station;

2. The property is let to a major SPAR operator with profits in excess of £3 million

3. Average turnover of £35,000 per week from the convenience store

4. Approximately 4 million litres of fuel sold per annum

5. Long unexpired lease term of over 15.5 years with no break clauses

6. VAT is not applicable on the sale

7. Mutli-purpose site with car wash, parking, ATM, off licence, deli and Costa Express

8. The lease benefits from fixed rental uplifts

9. The property occupies a highly prominent site on The Grove

10. The purchase price reflects an attractive net initial yield

11. Guaranteed reversionary yield of 9.17% from June 2033

Access to the data room and for the ability to purchase online with speed and ease, please click the clicktopurchase® “C” icon or the clicktopurchase® side bar. Purchasers will be able to access the complete legal package, clear verification and submit legally-binding offers to acquire the property.

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