Let to Bejam Group Limited t/a Iceland until 2030 (no breaks) with guarantee
2025 tenant break option removed
5 yearly fixed rental increases
Nearby occupiers include Boots the Chemist, Barclays Bank and Tesco Express
Currently producing £84,961 p.a.x. Rising to £96,125 p.a.x. in 2025
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 48
Auction 7th July 2016
Rent £84,961 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
10 miles north-east of Manchester, 30 miles south-west of Leeds
Roads
A627, M62
Air
Manchester Airport
Situation
Shaw is situated some 10 miles north-east of Manchester City Centre and benefits from excellent links via the M62. The property is situated on the east side of Market Street, the principle retailing pitch in Shaw and at its junction with Horton Square. Nearby occupiers include Boots the Chemist, Barclays Bank and Tesco Express.
Tenure
Freehold.
Location
Miles
10 miles north-east of Manchester, 30 miles south-west of Leeds
Roads
A627, M62
Air
Manchester Airport
Situation
Shaw is situated some 10 miles north-east of Manchester City Centre and benefits from excellent links via the M62. The property is situated on the east side of Market Street, the principle retailing pitch in Shaw and at its junction with Horton Square. Nearby occupiers include Boots the Chemist, Barclays Bank and Tesco Express.
Tenure
Freehold.
Description
The property comprises retail accommodation on the ground floor with ancillary accommodation on the first floor.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises retail accommodation on the ground floor with ancillary accommodation on the first floor.
VAT
VAT is applicable to this lot.
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
Retail Ancillary
724.17 sq m 392.03 sq m
(7,795 sq ft) (4,220 sq ft)
BEJAM GROUP LIMITED t/a Iceland GUARANTEED BY ICE ACQUISITIONS LTD
25 years from 28/02/2005 until 2030
£84,961 (2) Rising to £96,125 in Feb 2025
28/02/2020 (2) 28/02/2025
Totals
1,116.20 sq m
(12,015 sq ft)
£84,961
(1) Bejam Group Limited was incorporated in 1967 (Source: www.riskdisk.com). Iceland trades from over 860 stores nationwide (Source: www.iceland.co.uk). (2) Under the terms of the lease, the current rent reserved is £75,093 per annum exclusive. The lease provides for a fixed increase in the rent to £84,961 per annum exclusive on 28th February 2020 and £96,125 per annum exclusive on 28th February 2025. The seller will pay the buyer the difference between the current rent reserved of £75,093 per annum exclusive and £84,961 per annum exclusive from completion of the sale until 28th February 2020.