28 & 30 St. Peter's Street and 27, 29 & 31 Green Lane Derby Derbyshire DE1 1RS

28 & 30 St. Peter's Street and 27, 29 & 31 Green Lane
Derby
Derbyshire
DE1 1RS

Substantial City Centre Investment

  • Let to tenants including Clydesdale Bank plc and Freedom Sportsline Ltd (t/a Foot Locker)
  • Prominently located close to The Intu and Audley Shopping Centres
  • Approximately 1,207.23 sq m (12,995 sq ft)
  • Frontages to both St Peter’s Street and Green Lane
  • Asset Management opportunities
  • High Yielding on Guide Price
  • Rent = £325,733.01 p.a.x (Gross), £257,483.01 p.a.x (Net)
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    18
  • Auction
    12th February 2015
  • Rent
    Gross: £325,733 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,400,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the instructions of Cordea Savills
Important Update
  • Expand
  • Photos
  • Map

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

Substantial City Centre Investment

  • Let to tenants including Clydesdale Bank plc and Freedom Sportsline Ltd (t/a Foot Locker)
  • Prominently located close to The Intu and Audley Shopping Centres
  • Approximately 1,207.23 sq m (12,995 sq ft)
  • Frontages to both St Peter’s Street and Green Lane
  • Asset Management opportunities
  • High Yielding on Guide Price
  • Rent = £325,733.01 p.a.x (Gross), £257,483.01 p.a.x (Net)
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 18
  • Auction 12th February 2015
  • Rent
  • Status Sold
  • Price £1,400,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the instructions of Cordea Savills

Property Information

Location
Miles
15 miles west of Nottingham 35 miles south of Sheffield 38 miles north-east of Birmingham
Roads
A38, A50, A52, M1 (Junction 25)
Rail
Derby Railway Station
Air
East Midlands Airport
Situation

The property is prominently situated in the heart of Derby City Centre with its main frontage on the west side of the pedestrianised St Peter’s Street close to its junction with East Street and Cornmarket, and a further frontage on Green Lane. The property benefits from being located close to The Audley Centre and The Intu Shopping Centre (formerly Westfield), which houses 190 shops, an extensive food court and a 12 screen cinema. Nearby occupiers include Tesco Metro, Primark, BHS, McDonald’s, Cos ta and Barclays Bank.

Tenure

Leasehold. Leasehold from The Trustees of the Liversage Charity for a term of 125 years from 29th September 1972 at a current rent of £68,250 per annum. The rent is reviewed every 14 years (next rent review March 2018) to the higher of £15,000 per annum or 21% of the fair rack rental value of the demised premises.

Location
Miles
15 miles west of Nottingham 35 miles south of Sheffield 38 miles north-east of Birmingham
Roads
A38, A50, A52, M1 (Junction 25)
Rail
Derby Railway Station
Air
East Midlands Airport
Situation

The property is prominently situated in the heart of Derby City Centre with its main frontage on the west side of the pedestrianised St Peter’s Street close to its junction with East Street and Cornmarket, and a further frontage on Green Lane. The property benefits from being located close to The Audley Centre and The Intu Shopping Centre (formerly Westfield), which houses 190 shops, an extensive food court and a 12 screen cinema. Nearby occupiers include Tesco Metro, Primark, BHS, McDonald’s, Cos ta and Barclays Bank.

Tenure

Leasehold. Leasehold from The Trustees of the Liversage Charity for a term of 125 years from 29th September 1972 at a current rent of £68,250 per annum. The rent is reviewed every 14 years (next rent review March 2018) to the higher of £15,000 per annum or 21% of the fair rack rental value of the demised premises.

Description

The property comprises a bank and four shops. The bank on St Peter’s Street is arranged on the ground and first floors and the shop on St Peter’s Street is arranged on the ground floor only. The three shops to the rear fronting Green Lane provide retail accommodation on the ground floor only with a forecourt to the front. The property also benefits from car parking for about 30 cars (20 of which are licenced to an adjoining owner and the remainder of which are allocated to the tenant), accessed via Green Lane.

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 not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a bank and four shops. The bank on St Peter’s Street is arranged on the ground and first floors and the shop on St Peter’s Street is arranged on the ground floor only. The three shops to the rear fronting Green Lane provide retail accommodation on the ground floor only with a forecourt to the front. The property also benefits from car parking for about 30 cars (20 of which are licenced to an adjoining owner and the remainder of which are allocated to the tenant), accessed via Green Lane.

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 not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
28 St Peter’s
Street
Ground
First
Banking Hall/Ancillary
Ancillary
422.70 sq m
102.10 sq m
(4,550 sq ft)
(1,099 sq ft)
CLYDESDALE BANK PLC (1) 40 years from 25/12/1979 £172,000 (24/12/2019)
30 St Peter’s
Street
Ground Retail/Ancillary
201.80 sq m
(2,172 sq ft)
FREEDOM SPORTSLINE LIMITED (t/a Foot Locker) (2) Approx. 15 years from 09/07/2002 £110,000 (23/06/2017)
27 Green
Lane
Ground Retail/Ancillary
169.50 sq m
(1,825 sq ft)
A G MURPHY & A M MURPHY 10 years from 04/04/2006 (3) Nil (3) (03/04/2016)
29 Green
Lane
Ground Retail/Ancillary
168.70 sq m
(1,816 sq ft)
ROSEBUD ENTERPRISES LIMITED with a guarantee (t/a Learn Direct) (4) 6 years from 02/03/2012 (5) £15,000 (6) 02/03/2017 (6)
(01/03/2018)
31 Green
Lane
Ground Retail/Ancillary
142.40 sq m
(1,533 sq ft)
S H COOK t/a Simon Henry Hairdressers 5 years from 24/06/2011 £12,752.75 23/06/2016
20 car parking spaces (Licence)
EDDOWES WALDRON & CASH   £11,400
(Licence Fee)
 
Part service yard  
MCDONALD’S RESTAURANTS LTD Lease expiring 13/12/2016 £4,580.26  
Totals  
1,207.20 sq m
(12,995 sq ft)
    £325,733.01  

(1) Clydesdale Bank plc is a member of the National Australia Bank Group (NAB), one of the world’s top 40 financial companies with over 12.4 million customers worldwide. (Source www.cbonline.co.uk).
(2)For the year ending 31/12/2013, Freedom Sportsline Limited reported a turnover of £95,791,000, pre-tax profits of £1,550,000 and a total net worth of £21,040,000. (Source: www.riskdisk.com 15/01/2015).
(3)The tenant has entered into an Individual Voluntary Arrangement and is not paying rent or in occupation of the property.
(4)The seller is holding a £3,750 rent deposit.
(5)The lease is subject to a tenant break option in September 2016. If excercised, the tenant is liable for a break penalty of £7,500 plus VAT. The tenant has not served notice to exercise their break option in March 2015.
(6)The rent is reviewed to the higher of Open Market Rental Value or £17,389.12 per annum.

Property Documents

  • Site Plan
    Updated Date
    21.01.15
    File Size
    139 KB
    View PDF
  • Catalogue Page
    Updated Date
    21.01.15
    File Size
    963 KB
    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
Farrer & Co 66 Lincoln's Inn Fields
London
WC2A 3LH
Barbara Webb 0203 375 7494barbara.webb@farrer.co.uk

Useful Links

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

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