Nearby occupiers including Tesco Express, Betfred, Lloyds Bank, Ladbrokes, Carphone Warehouse and JD Wetherspoon
VAT-free investment
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 55
Auction 23rd March 2016
Rent £40,322 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
2 miles north-east of Nottingham city centre
25 miles north of Leicester
35 miles south-east of Sheffield
Roads
A46, A52, A60, M1 (Junction 26)
Rail
Carlton Railway Station, Nottingham Railway Station
Air
East Midlands Airport
Situation
The property is prominently located on the south side of Carlton Hill, a busy route between Nottingham city centre and the suburb of Carlton to the east. The property is situated within an established retailing location, with nearby occupiers including Tesco Express, Betfred, Lloyds Bank, Ladbrokes, Carphone Warehouse and JD Wetherspoon.
Tenure
Freehold.
Location
Miles
2 miles north-east of Nottingham city centre
25 miles north of Leicester
35 miles south-east of Sheffield
Roads
A46, A52, A60, M1 (Junction 26)
Rail
Carlton Railway Station, Nottingham Railway Station
Air
East Midlands Airport
Situation
The property is prominently located on the south side of Carlton Hill, a busy route between Nottingham city centre and the suburb of Carlton to the east. The property is situated within an established retailing location, with nearby occupiers including Tesco Express, Betfred, Lloyds Bank, Ladbrokes, Carphone Warehouse and JD Wetherspoon.
Tenure
Freehold.
Description
The property comprises a double fronted ground floor retail unit trading as a 24 hour convenience store with a Post Office and two self-contained residential flats on the first floor.
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 a double fronted ground floor retail unit trading as a 24 hour convenience store with a Post Office and two self-contained residential flats on the first floor.
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
Retail/Ancillary
141.91 sq m
(1,528 sq ft)
MARTIN MCCOLL LIMITED (1)
15 years from 19/10/2007
£40,322 (2)
19/10/2017 (2) (18/10/2022)
First (337A)
Residential Flat
INDIVIDUAL
999 years from 03/07/2007
Peppercorn
First (339A)
Residential Flat
INDIVIDUAL
999 years from 03/07/2007
Peppercorn
Totals
141.91 sq m
(1,528 sq ft)
£40,322
(1) For the year ending 30th November 2014, Martin McColl Limited reported a turnover of £462,850,000, pre-tax profits of £27,947,000 and a total net worth of £80,309,000. (Source: Experian Group 24/02/2016) (2) Under the terms of the lease the current rent reserved is £35,630 p.a.x. The lease provides for a minimum rental increase to £40,322 p.a.x or Open Market Rental Value, whichever is greater on 19th October 2017. The seller has agreed to adjust the completion monies so that the property will produce £40,322 p.a.x from completion of the sale.
