12 - 18 Market Street Huddersfield West Yorkshire HD1 2ET

12 - 18 Market Street
Huddersfield
West Yorkshire
HD1 2ET

Town Centre Supermarket and Retail Parade Investment

Let to tenants including Farmfoods Limited and Specsavers Optical Superstores Limited
Approximately 1,576.57 sq m (16,969 sq ft)
Immediately adjacent to Sainsbury’s Superstore
Other nearby occupiers include Marks & Spencer, Caffè Nero, Costa and HSBC, TSB and Halifax banks
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
62
Auction
22nd October 2015
Status
Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Important Update

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Town Centre Supermarket and Retail Parade Investment

Let to tenants including Farmfoods Limited and Specsavers Optical Superstores Limited
Approximately 1,576.57 sq m (16,969 sq ft)
Immediately adjacent to Sainsbury’s Superstore
Other nearby occupiers include Marks & Spencer, Caffè Nero, Costa and HSBC, TSB and Halifax banks
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 62
Auction 22nd October 2015
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 15 miles south-west of Leeds, 26 miles north-west of Sheffield
Roads: A62, A640, A629, M62 (Junction 23/24)
Rail: Huddersfield Railway Station
Air: Leeds Bradford Airport

Situation

The property is situated in a prominent position in the heart of Huddersfield town centre, on the eastern side of Market Street. The property benefits from close proximity to both New Street and King Street which connects to the Piazza Shopping Centre. Immediately adjacent to the property is a Sainsbury’s Superstore (with a 200 space car park) with other retailers including Marks & Spencer, Caffè Nero, Costa and various banks close by.

Tenure

Virtual Freehold. Leasehold from the Council of the Borough of Kirklees for a term of 150 years expiring on the 24th June 2136 at a peppercorn rent.

Location

Miles: 15 miles south-west of Leeds, 26 miles north-west of Sheffield
Roads: A62, A640, A629, M62 (Junction 23/24)
Rail: Huddersfield Railway Station
Air: Leeds Bradford Airport

Situation

Tenure

Virtual Freehold. Leasehold from the Council of the Borough of Kirklees for a term of 150 years expiring on the 24th June 2136 at a peppercorn rent.

Description

The property comprises a supermarket arranged on the ground floor with ancillary accommodation on the first floor, with two other shops arranged on the ground and first floors.

Six 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

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.	Reviews
Ground First	Supermarket Ancillary	560.32 sq m 329.10 sq m	(6,031 sq ft) (3,542 sq ft)	FARMFOODS LIMITED (1)	42 years from 29/09/1986 to 28/09/2028 (2)	£70,000	29/09/2018 and 29/09/2023
Ground First	Retail Ancillary	184.15 sq m 61.00 sq m	(1,982 sq ft) (657 sq ft)	JC CAKES LIMITED WITH PERSONAL GUARANTEE (t/a Creams Tea Room)	10 years from 11/05/2012 to 10/05/2022	£32,500	11/05/2017
Ground First	Retail Ancillary	326.60 sq m 115.40 sq m	(3,515 sq ft) (1,242 sq ft)	SPECSAVERS OPTICAL SUPERSTORES LIMITED(3)	10 years from 25/12/2011 to 24/12/2021	£56,250	25/12/2016
Totals		1,576.57 sq m	(16,969 sq ft)			£158,750

(1) Farmfoods trade from about 300 supermarkets in the UK. For the year ending 03/01/2015, Farmfoods Limited reported a turnover of £811,765,000, pre-tax profits of £20,810,000 and a total net worth of £80,748,000. (Source:www.farmfoods.co.uk, Experian Group 24/09/2015)
(2)The lease to Farmfoods Limited was originally let on a lease that was due to expire in 2018. However, the lease was subsequently extended with expiry now in September 2028 and with a tenant break option in September 2023. The 2013 rent review was waived in return for extending the lease and a concessionary rental period (now expired) was granted.
(3)For the year ending 28/02/2014, Specsavers Optical Superstores Limited reported a turnover of £392,606,000, pre-tax profits of £18,533,000 and a total net worth of £73,847,000. (Source: Experian Group 24/09/2015)