Let to Heron Foods Ltd on a new 15 year lease (10 year option to renew) from completion
Heron Foods Ltd was incorporated in 1978 and has reported profits for the last 27 years
Guaranteed rental increases with rent reviews linked to Consumer Price Index (CPI) (subject to a minimum of 1% and a maximum of 3%)
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 35
Auction 19th May 2016
Rent £42,500 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Heron Foods
Property Information
Location
Miles
10 miles west of Birmingham City Centre, 6 miles south of Wolverhampton
Roads
M5, A461, A4036, A4123
Rail
Dudley Port Railway Station
Air
Birmingham Airport
Situation
Dudley is a major town some 9 miles west of Birmingham city centre. The property is situated on the north side of Castle Street in Dudley town centre and at its junction with pedestrianised Market Place. Nearby occupiers include Boots the Chemist, Specsavers, New Look and Superdrug.
Tenure
Freehold.
Location
Miles
10 miles west of Birmingham City Centre, 6 miles south of Wolverhampton
Roads
M5, A461, A4036, A4123
Rail
Dudley Port Railway Station
Air
Birmingham Airport
Situation
Dudley is a major town some 9 miles west of Birmingham city centre. The property is situated on the north side of Castle Street in Dudley town centre and at its junction with pedestrianised Market Place. Nearby occupiers include Boots the Chemist, Specsavers, New Look and Superdrug.
Tenure
Freehold.
Description
The property comprises retail accommodation on the ground floor with ancillary accommodation on the first floor. The property benefits from rear access and car parking from Tower Street.
Six Week Completion
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. The property benefits from rear access and car parking from Tower Street.
Six Week Completion
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
Review (Reversion)
Ground First
Retail Ancillary
226.80 sq m 111.00 sq m
(2,441 sq ft) (1,195 sq ft)
HERON FOODS LTD (1)
15 years from completion on a full repairing and insuring lease with a 10 year option to renew
£42,500
Rental increases linked to CPI (subject to minimum of 1% and a maximum of 3%) 5 yearly annually compounded
Totals
337.80 sq m
(3,636 sq ft)
£42,500
(1) Heron Foods Ltd was incorporated in 1978 and operates from over 240 stores nationally (Source:www.heronfoods.com). For the year ending 27th December 2014, Heron Foods Ltd reported a turnover of £255,138,454, pre-tax profits of £1,908,478 and a net worth of £28,145,411. (Source: www.riskdisk.com 06/04/2016).