Nearby occupiers include TK Maxx, Boots the Chemist, Superdrug, JD Wetherspoon and McDonalds
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 97
Auction 19th May 2016
Rent £70,076 per Annum Exclusive
Status Sold
Price £453,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Hansteen
Property Information
Location
Miles
12 miles east of Blackburn, 30 miles north of Manchester, 33 miles west of Leeds
Roads
A6114, A646, M65 (Junctions 10 & 11)
Rail
Burnley Central and Burnley Manchester Road Railway Stations
Air
Leeds Bradford International Airport
Situation
The property occupies a prominent island site on the north side of Yorkshire Street at its junction with Church Street, close to the pedestrianised St James Street and The Mall Shopping Centre.
Nearby occupiers include Boots the Chemist, Superdrug, Poundworld, 99p Stores, JD Wetherspoon, McDonald’s and the substantial TK Maxx and Poundstretcher stores on Church Street.
Tenure
Long Leasehold. Held for a term of 99 years from 25th December 1983 at a fixed rent of £100 per annum.
Location
Miles
12 miles east of Blackburn, 30 miles north of Manchester, 33 miles west of Leeds
Roads
A6114, A646, M65 (Junctions 10 & 11)
Rail
Burnley Central and Burnley Manchester Road Railway Stations
Air
Leeds Bradford International Airport
Situation
The property occupies a prominent island site on the north side of Yorkshire Street at its junction with Church Street, close to the pedestrianised St James Street and The Mall Shopping Centre.
Nearby occupiers include Boots the Chemist, Superdrug, Poundworld, 99p Stores, JD Wetherspoon, McDonald’s and the substantial TK Maxx and Poundstretcher stores on Church Street.
Tenure
Long Leasehold. Held for a term of 99 years from 25th December 1983 at a fixed rent of £100 per annum.
Description
The property comprises an unbroken parade of 11 ground floor retail units.
Six Week Completion (subject to landlord consent to assign)
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an unbroken parade of 11 ground floor retail units.
Six Week Completion (subject to landlord consent to assign)
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit No.
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
2 & 20
Ground
Retail
167.50 sq m
(1,803 sq ft)
EAST LANCASHIRE PEOPLE FIRST
3 years from 01/03/2015
£13,500 (1)
28/02/2018
4
Ground
Retail
79.25 sq m
(853 sq ft)
INDIVIDUAL (t/a Beautyful You)
3 years from 01/10/2015 (2)
£7,677 (3)
30/09/2018
6
Ground
Retail
60.39 sq m
(650 sq ft)
C & C SPORTS LIMITED (t/a Cockers Sports Goods)
5 years from 01/01/2013
£7,150
31/12/2017
8
Ground
Retail
57.41 sq m
(618 sq ft)
AGE UK
5 years from 01/06/2013
£4,635
31/05/2018
10
Ground
Retail
66.05 sq m
(711 sq ft)
CYMK BURNLEY LIMITED (t/a Print 4 Less)
2 years from 01/05/2016
£7,500 (4)
29/05/2015
12
Ground
Retail
68.56 sq m
(738 sq ft)
INDIVIDUAL (t/a Discount Furniture)
3 years from 01/08/2014 (5)
£5,166
31/07/2017
14
Ground
Retail
67.17 sq m
(723 sq ft)
CLAIM£3000 LIMITED
2 years from 14/04/2016
£5,045
13/04/2018
16
Ground
Retail
70.33 sq m
(757 sq ft)
RIGHT CARPETS HB LIMITED
3 years from 20/04/2016 (6)
£6,000
19/04/2019
18
Ground
Retail
70.79 sq m
(762 sq ft)
CENTRAL DELI CONTINENTAL SHOP
3 years from 28/10/2015 (7)
£6,858
27/10/2018
22
Ground
Retail
71.54 sq m
(770 sq ft)
INDIVIDUAL (t/a Wake Up Glam)
4 years from 01/06/2014
£6,545
31/05/2018
Totals
778.99 sq m
(8,385 sq ft)
£70,076 (1) (3) (4)
(1) The current rent reserved is £12,500 p.a.x. The lease provides for a fixed increase in rent on 1st March 2017 to £13,500 p.a.x. The seller has agreed to adjust the completion monies so that the unit will produce £13,500 p.a.x from completion of the sale. (2) The lease provides for a tenant option to determine on 1st April 2017, subject to 3 months prior written notice. (3) The current rent reserved is £7,000 p.a.x. The lease provides for a fixed increase in rent on 1st October 2016 to £7,677 p.a.x. The seller has agreed to adjust the completion monies so that the unit will produce £7,677 p.a.x from completion of the sale. (4) The tenant is currently benefiting from a 4 month concessionary rent. The seller has agreed to adjust the completion monies so the unit will produce £7,500 p.a.x from completion of the sale. (5) The lease provides for a tenant option to determine on 31st July 2016 on providing 3 months notice. (6) The lease provides for tenant options to determine on 20th April 2017 and 20th April 2018 on providing 3 months notice. (7) The lease provides for a tenant option to determine on 28th January 2017 on providing 3 months notice.
