Entirely let to Poundworld Retail Limited t/a Bargain Buys
Close to both Intu Eldon Square Shopping Centre and The Gate Leisure Centre and adjacent to Newgate Shopping Mall
VAT free investment
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
Lot 32
Auction 11th February 2016
Rent £85,000 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Receivers CBRE
Property Information
Location
Miles
14 miles north-west of Sunderland, 18 miles north of Durham
Roads
A1, A19, A1(M), A167(M)
Rail
Newcastle Railway Station
Air
Newcastle International Airport
Situation
The property is situated on the western side of Clayton Street, close to its junction with Newgate Street, in Newcastle City Centre. The property is within a short walk of both Intu Eldon Square Shopping Centre, which houses retailers including Debenhams, Next, Topshop and Poundland, and The Gate Leisure Centre. Surrounding occupiers include Brighthouse, Heron Foods and Poundstretcher, as well as a number of independent retailers.
Tenure
Freehold.
Location
Miles
14 miles north-west of Sunderland, 18 miles north of Durham
Roads
A1, A19, A1(M), A167(M)
Rail
Newcastle Railway Station
Air
Newcastle International Airport
Situation
The property is situated on the western side of Clayton Street, close to its junction with Newgate Street, in Newcastle City Centre. The property is within a short walk of both Intu Eldon Square Shopping Centre, which houses retailers including Debenhams, Next, Topshop and Poundland, and The Gate Leisure Centre. Surrounding occupiers include Brighthouse, Heron Foods and Poundstretcher, as well as a number of independent retailers.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with storage accommodation at basement, first and second floors.
Six Week Completion
Note
This property is being marketed for sale on behalf of Fixed Charge 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 Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without
personal liability.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with storage accommodation at basement, first and second floors.
Six Week Completion
Note
This property is being marketed for sale on behalf of Fixed Charge 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 Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without
personal liability.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
10 years from 03/10/2011 until 02/10/2021 on a full repairing and insuring lease (2) (3)
£85,000
03/10/2016
Totals
4.475 sq m
(48,170 sq ft)
£85,000
(1) For the year ending 31st March 2015 Poundworld Retail Limited reported a turnover of £422,304,000, pre-tax profits of £13,726,000 and a total net worth of £22,197,000. (Source: Experian Group 13/04/2016). (2) The lease provides for a tenant option to determine on 2nd October 2017. (3) The lease is subject to a schedule of condition on the first and second floors.
