Iceland, Unit 2 Bolton Road Ewood Mill Blackburn Lancashire BB2 4LQ

Iceland, Unit 2 Bolton Road
Ewood Mill
Blackburn
Lancashire
BB2 4LQ

Prominent Supermarket Investment

  • Let to Iceland Foods Limited until February 2030 (subject to option)
  • 5 yearly fixed rental increases to 2.5% per annum compounded
  • Approximately 10,356 sq ft - Supermarket extended in 2012
  • Adjacent to Aldi and close to McDonald’s and Blackburn Rovers Football Ground
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    75
  • Auction
    13th October 2016
  • Rent
    £112,647 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,500,000
  • Sector
    Supermarket
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Prominent Supermarket Investment

  • Let to Iceland Foods Limited until February 2030 (subject to option)
  • 5 yearly fixed rental increases to 2.5% per annum compounded
  • Approximately 10,356 sq ft - Supermarket extended in 2012
  • Adjacent to Aldi and close to McDonald’s and Blackburn Rovers Football Ground
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 75
  • Auction 13th October 2016
  • Rent
  • Status Sold
  • Price £1,500,000
  • Sector
    Supermarket
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG

Property Information

Location
Miles
21 miles north-west of Manchester, 57 miles west of Leeds
Roads
A666, A677, A6078, M65
Rail
Mill Hill Railway Station
Air
Manchester Airport
Situation

The property is situated on the western side of Bolton Road (A666), close to its junction with Alan Shearer Way and close to the M65 motorway (Junction 4). The property is located adjacent to an Aldi supermarket.

Tenure

Virtual Freehold. Held for a term of 999 years from 26/11/1993 until 25/11/2992 at a peppercorn rent.

Location
Miles
21 miles north-west of Manchester, 57 miles west of Leeds
Roads
A666, A677, A6078, M65
Rail
Mill Hill Railway Station
Air
Manchester Airport
Situation

The property is situated on the western side of Bolton Road (A666), close to its junction with Alan Shearer Way and close to the M65 motorway (Junction 4). The property is located adjacent to an Aldi supermarket.

Tenure

Virtual Freehold. Held for a term of 999 years from 26/11/1993 until 25/11/2992 at a peppercorn rent.

Description

The property comprises a ground floor supermarket with ancillary accommodation to the rear. Part of the accommodation is sublet to Ladbrokes. The supermarket was extended in 2012.

Six Week Completion

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 a ground floor supermarket with ancillary accommodation to the rear. Part of the accommodation is sublet to Ladbrokes. The supermarket was extended in 2012.

Six Week Completion

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/(Reversion)
Ground Supermarket/
Ancillary
Betting Shop/
Ancillary(sublet)
809.65 sq m

152.43 sq m
(8,715 sq ft)

(1,641 sq ft)
ICELAND FOODS
LIMITED (1)
25 years from 28/02/2005 (2) until 27/02/2030 on a full repairing and insuring lease £112,647 (3) rising to £127,450 in Feb 2020 and to £144,198 in Feb 2025 28/02/2020 (4)
28/02/2025 (4)
(27/02/2030)
Totals   962.10 sq m (10,356 sq ft)     £112,647  

(1) For the year ending 25th March 2016, Iceland Foods Limited reported a turnover of £2,658,332,000, pre-tax profits of £58,172,000 and a total net worth of £740,354,000. (Source: Experian Group 02/08/2016).
(2) The lease is subject to a tenant option to determine on 27th February 2025.
(3) The lease is currently being assigned from Bejam Group Limited to Iceland Foods Limited and it is expected that the assignment will be completed by the auction date. In return, the tenant will be granted, by way of a side letter agreement, a concessionary rental period for a period of 6 months from 29/09/2016 to and including 28/03/2017 where the tenant will pay half rent. The vendor has agreed to adjust the completion monies so that the property will produce £112,647 from completion of the sale until the expiry of the concessionary rental period. This side letter is personal to Iceland Foods Limited.
(4) The rent is reviewed 5 yearly to 2.5% per annum compounded.

Property Documents

  • Site Plan
    Updated Date
    30.10.19
    File Size
    55 KB
    View PDF
  • Catalogue Page
    Updated Date
    30.10.19
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Paschalis Law Prospect House, 2 Athenaeum Road, Whetstone
London
N20 9AE
Costas Paschalis 0330 311 2910costas@paschalislaw.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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