Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Heron Foods
Property Information
Location
Miles
13 miles south-east of Newcastle-upon-Tyne, 13 miles south-west of Durham
Roads
A1(M), A19, A1018, A1231, A690
Rail
Sunderland Railway Station
Air
Newcastle Airport
Situation
The property is situated on busy pedestrianised Blandford Street in the City Centre, close to The Bridges Shopping Centre. Neighbouring occupiers include Holland & Barrett, Yorkshire Bank, Santander Bank and Specsavers Opticians.
Tenure
Freehold.
Location
Miles
13 miles south-east of Newcastle-upon-Tyne, 13 miles south-west of Durham
Roads
A1(M), A19, A1018, A1231, A690
Rail
Sunderland Railway Station
Air
Newcastle Airport
Situation
The property is situated on busy pedestrianised Blandford Street in the City Centre, close to The Bridges Shopping Centre. Neighbouring occupiers include Holland & Barrett, Yorkshire Bank, Santander Bank and Specsavers Opticians.
Tenure
Freehold.
Description
The property comprises retail accommodation on the ground floor, with ancillary accommodation on the first floor.
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 retail accommodation on the ground floor, with ancillary accommodation on the first floor.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground First
Retail/Ancillary Ancillary
259.75 sq m 237.27 sq m
(2,795 sq ft) (2,554 sq ft)
HERON FOODS LTD (1)
17.5 years from completion on a full repairing and insuring lease with a 10 year option to renew
£60,000
Rental increases linked to CPI (subject to minimum of 1% and a maximum of 3%) 5 yearly annually compounded
Totals
497.02 sq m
(5,349 sq ft)
£60,000
(1) Heron Foods Ltd was incorporated in 1978 and operates from some 235 outlets nationally. In some 45 years of trading, Heron Foods Ltd have always reported annual profits. For the year ending 28/12/2013, Heron Foods Ltd reported a turnover of £249,688,954, pre-tax profits of £2,301,042 and a net worth of £26,419,497. (Source: www.riskdisk.com 24/02/2015)
