Entirely let to Wilko Retail Limited until 2030 (no breaks)
Five yearly fixed rental increases rising to £267,471 p.a.x. in 2020 and £295,309 p.a.x. in 2025
Situated adjacent to the Portland Walk Shopping Centre and The Forum Theatre
Nearby occupiers include Debenhams Department Store, The Body Shop, WH Smith, Topshop, Waterstones and Boots The Chemist
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 29
Auction 30th March 2017
Rent £242,256 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of Joint LPA Receivers
Property Information
Location
Miles
67 miles north of Preston, 71 miles south of Carlisle, 97 miles north-west of Leeds
Roads
A590, A595, M6 (Junction 36)
Rail
Barrow-in-Furness Railway Station
Air
Manchester Airport
Situation
The property is situated in a prominent corner position on the east side of pedestrianised Duke Street in the heart of the town centre. The property is adjacent to The Forum Theatre, a large multi-storey car park and the Portland Walk Shopping Centre which houses retailers including Debenhams Department Store, The Body Shop, WH Smith, Topshop, Waterstones and Boots The Chemist. The property benefits from being situated on a busy pedestrian walkway which connects the Shopping Centre and Duke Street.
Tenure
Freehold.
Location
Miles
67 miles north of Preston, 71 miles south of Carlisle, 97 miles north-west of Leeds
Roads
A590, A595, M6 (Junction 36)
Rail
Barrow-in-Furness Railway Station
Air
Manchester Airport
Situation
The property is situated in a prominent corner position on the east side of pedestrianised Duke Street in the heart of the town centre. The property is adjacent to The Forum Theatre, a large multi-storey car park and the Portland Walk Shopping Centre which houses retailers including Debenhams Department Store, The Body Shop, WH Smith, Topshop, Waterstones and Boots The Chemist. The property benefits from being situated on a busy pedestrian walkway which connects the Shopping Centre and Duke Street.
Tenure
Freehold.
Description
The property comprises a substantial, purpose built retail unit which provides ground and first floor retail accommodation with ancillary accommodation on the second floor. The property can also be accessed from an additional entrance on the second floor via a footbridge from the adjacent car park. Please note that this footbridge is outside of the seller’s ownership.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial, purpose built retail unit which provides ground and first floor retail accommodation with ancillary accommodation on the second floor. The property can also be accessed from an additional entrance on the second floor via a footbridge from the adjacent car park. Please note that this footbridge is outside of the seller’s ownership.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground First Second
Retail/Ancillary Retail/Ancillary Ancillary
1,221.00 sq m 1,221.00 sq m 750.00 sq m
(13,143 sq ft) (13,143 sq ft) (8,073 sq ft)
WILKO RETAIL LIMITED (1)
30 years from 20/10/2000 until 19/10/2030 on a full repairing and insuring lease
£242,256
Fixed rental increases - rising to £267,471 p.a.x on 20/10/2020 and £295,309 p.a.x on 20/10/2025
Total
3,192.00 sq m
(34,359 sq ft)
£242,256
1) For the year ending 30th January 2016, Wilko Retail Limited reported a turnover £1,464,475,000, pre-tax profits of £25,955,000 and a total new worth of £182,398,000 (Source: Experian Group 19/01/2016).