Whitchurch District Centre Oatlands Avenue Whitchurch, Bristol BS14 9NJ
Whitchurch District Centre Oatlands Avenue Whitchurch, Bristol BS14 9NJ
Substantial Ground Rent Investment
Entirely let to Asda Stores Ltd
Lease expiring in February 2077 (in excess of 62 years unexpired)
Rent geared to 22.844% of total rack rental value
Includes supermarket, six shops, bank and library (totalling approximately 73,291 sq ft) and a petrol filling station on a substantial site totalling approximately 3.09 hectares (7.64 acres)
Next Rent Review February 2020
Lot 27
Auction 23rd October 2014
Rent Gross: £228,440 per Annum Exclusive
Status Withdrawn Post
Price
Sector Ground Rent
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Lease expiring in February 2077 (in excess of 62 years unexpired)
Rent geared to 22.844% of total rack rental value
Includes supermarket, six shops, bank and library (totalling approximately 73,291 sq ft) and a petrol filling station on a substantial site totalling approximately 3.09 hectares (7.64 acres)
Next Rent Review February 2020
Lot 27
Auction 23rd October 2014
Rent Gross: £228,440 per Annum Exclusive
Status Withdrawn Post
Price
Sector Ground Rent
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
3 miles south of Bristol City Centre
11 miles west of Bath
Roads
A4, A37, M32, M4 (Junction 19), M5 (Junction 18)
Rail
Bristol Temple Meads
Air
Bristol Airport
Situation
Whitchurch is a suburb of Bristol located approximately 3 miles south of the City Centre. Bristol benefits from excellent communication links being situated in close proximity to the M4 and M5 motorways. The property is situated in a predominantly residential area on the south side of Oatlands Avenue, close to its junction with Fortfield Road, with access to Wells Road (A37) just to the east.
Tenure
Leasehold. Held from Bristol City Council for a term of 99 years from 14th February 1978 at a current rent reserved of £200,000 per annum exclusive.
The rent is reviewed every 14 years with the next review due in February 2020,
geared to 20% of the total rack rental value.
Location
Miles
3 miles south of Bristol City Centre
11 miles west of Bath
Roads
A4, A37, M32, M4 (Junction 19), M5 (Junction 18)
Rail
Bristol Temple Meads
Air
Bristol Airport
Situation
Whitchurch is a suburb of Bristol located approximately 3 miles south of the City Centre. Bristol benefits from excellent communication links being situated in close proximity to the M4 and M5 motorways. The property is situated in a predominantly residential area on the south side of Oatlands Avenue, close to its junction with Fortfield Road, with access to Wells Road (A37) just to the east.
Tenure
Leasehold. Held from Bristol City Council for a term of 99 years from 14th February 1978 at a current rent reserved of £200,000 per annum exclusive.
The rent is reviewed every 14 years with the next review due in February 2020,
geared to 20% of the total rack rental value.
Description
The property comprises a large supermarket, petrol filling station, six shops, a bank and library on a substantial site comprising approximately 3.09 hectares (7.64 acres). The property benefits from a large car park for approximately 450 cars.
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 a large supermarket, petrol filling station, six shops, a bank and library on a substantial site comprising approximately 3.09 hectares (7.64 acres). The property benefits from a large car park for approximately 450 cars.
VAT
VAT is applicable to this lot.
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
Review
Ground/ Mezzanine Ground Ground
Supermarket
6 Shops, Bank, Library Petrol Filling Station
5,449.55 sq m
1,359.35 sq m –
(58,659 sq ft)
(14,632 sq ft) (–)
ASDA STORES LIMITED (1)
99 years less 10 days from 14/02/1978 until 2077 on a full repairing and insuring lease
£228,440
14/02/2020 and 14 yearly thereafter (2)
Totals
6,808.90 sq m
(73,291 sq ft)
£228,440
(1) For the year ending 31/12/2012, Asda Stores Limited reported a turnover of £22,813,900,000, pre-tax profits of £483,500,000 and a total net worth of £5,090,400,000. (Source: www.riskdisk.com 18/08/2014). We understand that part of the property is sublet. (2)The lease to Asda Stores Limited provides for rent reviews every 14 years geared to the rent payable under the terms of the head lease plus an additional 14.22% of this rent. The rent is therefore geared to 22.844% of the total rack rental value.
