29 Gallowtree Gate Leicester Leicestershire LE1 5AD

29 Gallowtree Gate
Leicester
Leicestershire
LE1 5AD

Freehold Retail and Office Investment

  • Tenants include Ladbrokes, Timpson and Harvey & Thompson and Sk:n
  • Six retail units and office accommodation on prime pedestrianised pitch
  • Asset Management Opportunity
  • Nearby occupiers include Marks & Spencers, Card Factory, Boots and Dorothy Perkins
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    6
  • Auction
    8th December 2016
  • Rent
    £226,000 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of a Major Fund Manager
Important Update
  • Expand
  • Photos
  • Map

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

Freehold Retail and Office Investment

  • Tenants include Ladbrokes, Timpson and Harvey & Thompson and Sk:n
  • Six retail units and office accommodation on prime pedestrianised pitch
  • Asset Management Opportunity
  • Nearby occupiers include Marks & Spencers, Card Factory, Boots and Dorothy Perkins
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 6
  • Auction 8th December 2016
  • Rent
  • Status Withdrawn Post
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of a Major Fund Manager

Property Information

Location
Miles
30 miles south of Nottingham, 45 miles north-east of Birmingham
Roads
A6, A47, A563, M1
Rail
Leicester Railway Station
Air
East Midlands Airport
Situation

The property is situated in the heart of Leicester City Centre occupying a prominent pitch fronting the prime pedestrianised retailing pitches of Gallowtree Gate and Market Place. The property also fronts Victoria Parade a busy thoroughfare also occupied by Pret a Manger. Other nearby occupiers
include Marks & Spencers, Card Factory, Boots and Dorothy Perkins.

Tenure

Freehold.

Location
Miles
30 miles south of Nottingham, 45 miles north-east of Birmingham
Roads
A6, A47, A563, M1
Rail
Leicester Railway Station
Air
East Midlands Airport
Situation

The property is situated in the heart of Leicester City Centre occupying a prominent pitch fronting the prime pedestrianised retailing pitches of Gallowtree Gate and Market Place. The property also fronts Victoria Parade a busy thoroughfare also occupied by Pret a Manger. Other nearby occupiers
include Marks & Spencers, Card Factory, Boots and Dorothy Perkins.

Tenure

Freehold.

Description

The property comprises an L shaped retail parade providing six ground floor retail units with ancillary accommodation at basement, first, second and third floors. There is also a self contained office unit arranged over first and second floors accessed from Victoria Arcade.

VAT

VAT is applicable to this lot.

EPC

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

Description

The property comprises an L shaped retail parade providing six ground floor retail units with ancillary accommodation at basement, first, second and third floors. There is also a self contained office unit arranged over first and second floors accessed from Victoria Arcade.

VAT

VAT is 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)
29
Gallowtree
Gate
Ground
First
Second
Third
Retail
Ancillary
Training Rooms
Ancillary
55.83 sq m
36.97 sq m
36.41 sq m
39.85 sq m
601 sq ft
398 sq ft
392 sq ft
429 sq ft
LASERCARE CLINICS
(HARROGATE) LTD t/a Sk:n (1)
10 years from
29/09/2011
£75,000 29/09/2016
(28/09/2021)
65
Market
Place
Ground
First
Second
Third
Retail
Ancillary
Ancillary
Ancillary
104.33 sq m
113.52 sq m
31.67 sq m
31.40 sq m
1,123 sq ft
1,222 sq ft
341 sq ft
337 sq ft
LADBROKES BETTING
& GAMING LTD t/a
Ladbrokes (2)
15 years
from
03/09/2004
£65,000 (02/09/2019)
67
Market
Place
Ground
Basement
Retail
Ancillary
78.41 sq m
71.81 sq m
844 sq ft
773 sq ft
THOMAS’S
ENTERTAINMENTS
(LEICESTER) LTD
t/a Thomas Amusements (3)
5 years
from
25/12/2011
£27,500 (24/12/2016)
69
Market
Place
Ground
Basement
First
Second
Third
Retail
Ancillary
Ancillary
Ancillary
Ancillary
39.29 sq m
44.22 sq m
32.14 sq m
26.47 sq m
20.99 sq m
423 sq ft
476 sq ft
346 sq ft
285 sq ft
226 sq ft
HARVEY & THOMPSON
LTD t/a H&T Pawnbrokers
(4)
10 years
from
29/09/2011
£31,500 29/09/2016
(28/09/2021)
3
Victoria
Parade
Ground
Basement
First
Second
Third
Retail
Ancillary
Ancillary
Ancillary
Ancillary
16.90 sq m
42.60 sq m
15.00 sq m
10.20 sq m
22.40 sq m
182 sq ft
458 sq ft
161 sq ft
109 sq ft
241 sq ft
TIMPSON LTD
t/a Timpson (5)
10 years
from
16/01/2012 (6)
£15,000 16/01/2017
(15/01/2022)
5 Victoria
Parade
Ground Retail
19.32 sq m
208 sq ft
PROFESSIONAL
EYEBROW BAR LTD
5 years from
25/07/2016
£12,000 25/07/2019
(24/07/2021)
1A Victoria
Parade
First
Second
Office
Office
83.70 sq m
50.10 sq m
900 sq ft
539 sq ft
UNDER OFFER (7)      
Total    
1,023 sq m
1 1,014 sq ft
    £226,000  

(1) For the year 31 Aug 2015, Lasercare Clinics (Harrogate) Ltd reported a turnover of £25,172,119, pre-tax profits of £2,342,964 and a total net worth of £20,766,898. (Source: Experian Group 08/11/2016)
(2) For the year 31 Dec 2015, Ladbrokes Betting & Gaming Ltd reported a turnover of £830,679,000, pre-tax profits of £49,866,000 and a total net worth of £1,191,903,000. (Source: Experian Group 08/11/2016)
(3) The Thomas Organisation has been entertaining Leicester since 1931, originally in Cank Street.They now have three Gaming Centres across the city. (Source: www.thomasamuse.co.uk 08/11/2016)
(4) For the year ending 31 Dec 2015, Harvey & Thompson Ltd reported a turnover of £89,244,000, pre-tax profits of £7,636,000 and a total net worth of £71,545,000. (Source: Experian Group 08/11/2016)
(5) For the year ending 26 Sep 2015, Timpson Ltd reported a turnover of £130,773,000, pre-tax profits of £10,259,000 and a total net worth of £52,102,000.(Source: Experian Group 08/11/2016)
(6) The lease provides an option to determine on 16/01/2017.
(7) 1A Victoria Parade is currently under offer to an individual for a 5 year term at a rent of £9,000 pa with a four month rent free period and a mutual option to determine on the third anniversary of the term.

Property Documents

  • Catalogue Page
    Updated Date
    16.11.16
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    16.11.16
    File Size
    92 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

Seller's Solicitors
Hamlins LLP Roxburghe House, 273-287 Regents Street
London
W1B 2AD
Joseph Holder 0207 355 6112jholder@hamlins.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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