Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Clients of LaSalle Investment Management
Property Information
Location
Miles
1.5 miles east of the city centre, 36 miles north-east of Nottingham, 40 miles south-east of Sheffield
Roads
B1308, A15, A46, A1
Rail
Lincoln Mainline Railway Station
Air
East Midlands Airport
Situation
The property is situated on Deacon Road accessed via Outer Circle Road, an established commercial area that is home to a variety of trade counter, out of town retail, car showroom, industrial and distribution businesses. Nearby occupiers include Tesco, Magnet, Topps Tiles, Wickes, Western Power Distribution and Camper. The location affords easy access to the city centre and to the A46 Lincoln bypass.
Tenure
Virtual Freehold. Held for a term of 1000 years from 23/12/2003 at a peppercorn rent. The head lease contains a right to buy the freehold interest for £1 at any time after 1/01/2019.
Location
Miles
1.5 miles east of the city centre, 36 miles north-east of Nottingham, 40 miles south-east of Sheffield
Roads
B1308, A15, A46, A1
Rail
Lincoln Mainline Railway Station
Air
East Midlands Airport
Situation
The property is situated on Deacon Road accessed via Outer Circle Road, an established commercial area that is home to a variety of trade counter, out of town retail, car showroom, industrial and distribution businesses. Nearby occupiers include Tesco, Magnet, Topps Tiles, Wickes, Western Power Distribution and Camper. The location affords easy access to the city centre and to the A46 Lincoln bypass.
Tenure
Virtual Freehold. Held for a term of 1000 years from 23/12/2003 at a peppercorn rent. The head lease contains a right to buy the freehold interest for £1 at any time after 1/01/2019.
Description
Unit A, which forms part of a larger site, comprises a single storey trade counter unit benefiting from 10 roller shutter doors, service yard and car parking to the front and side. Units B, C, D, E & F which are also included in the sale have been let on two 1,000 year leases (see Note 2).
6 Week Completion
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 applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
Unit A, which forms part of a larger site, comprises a single storey trade counter unit benefiting from 10 roller shutter doors, service yard and car parking to the front and side. Units B, C, D, E & F which are also included in the sale have been let on two 1,000 year leases (see Note 2).
6 Week Completion
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 applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
A
Trade Counter
2,593.18 sq m
(27,913 sq ft)
JEWSON LIMITED (1)
25 years from 24/08/1993 on a full repairing and insuring lease
£94,000
23/08/2018
Totals
2,593.18 sq m
(27,913 sq ft)
£94,000
(1) Founded in 1836, Jewson Limited are the UK’s leading supplier of sustainable timber and building materials and currently operates from over 600 branches. (Source: www.jewson.co.uk) Jewson Limited is a wholly owned subsidiary of Saint-Gobain Building Distribution Limited. For the year ending 31st December 2013, Saint-Gobain Building Distribution Limited reported a turnover of £623,912,000, pre-tax loss of £39,426,000 and a total net worth of £137,991,000. (Source:www.riskdisk.com 02/03/2015) (2)Units B, C, D, E & F have been let on two 1,000 year leases (less 5 days) from 23/12/2003 at a peppercorn rent.