Freehold Retail Investment & Development Opportunity
Substantial town centre building comprising approximately 56,136 sq ft on 0.62 acre site
Part let to C & J Clark International Limited (in occupation for nearly 30 years)
Potential to redevelop former BHS variety store - with change of use opportunities (subject to consents)
Directly opposite main entrance to Four Seasons Shopping Centre - close to Primark and Marks & Spencer
Lot 25
Auction 13th July 2017
Rent £84,000 per Annum Exclusive
Status Sold
Price £1,860,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
11 miles south-east of Chesterfield, 17 miles north of Nottingham
Roads
A38, A60, A617, M1
Rail
Mansfield Railway Station
Air
East Midlands Airport
Situation
The property is situated on the northern side of the pedestrianised section of West Gate, immediately opposite the East Mall entrance to Four Seasons Shopping Centre. Four Seasons Shopping Centre houses retailers including Boots the Chemist, Debenhams, Primark, Topman/Topshop, JD Sports and WH Smith. Other nearby occupiers include Marks & Spencer, Costa, New Look and branches of HSBC, Barclays and Halifax banks.
Tenure
Freehold.
Location
Miles
11 miles south-east of Chesterfield, 17 miles north of Nottingham
Roads
A38, A60, A617, M1
Rail
Mansfield Railway Station
Air
East Midlands Airport
Situation
The property is situated on the northern side of the pedestrianised section of West Gate, immediately opposite the East Mall entrance to Four Seasons Shopping Centre. Four Seasons Shopping Centre houses retailers including Boots the Chemist, Debenhams, Primark, Topman/Topshop, JD Sports and WH Smith. Other nearby occupiers include Marks & Spencer, Costa, New Look and branches of HSBC, Barclays and Halifax banks.
Tenure
Freehold.
Description
The property comprises a purpose built former department store arranged on the ground, first, second and third floors with a substantial loading bay and service yard area to the rear, together with a separate self-contained shop arranged on the ground floor only.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a purpose built former department store arranged on the ground, first, second and third floors with a substantial loading bay and service yard area to the rear, together with a separate self-contained shop arranged on the ground floor only.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
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)
32-34 (Former BHS)
Ground First Second Third
Retail Retail Ancillary Plant
1,239.70 sq m 1,595.33 sq m 1,477.34 sq m 547.27 sq m
10 years from 25/11/2012 on a full repairing and insuring lease
£84,000
25/11/2017 (24/11/2022)
Totals
5,215.18 sq m
(56,136 sq ft)
£84,000
(1) For the year ending 31st January 2017, C & J Clark International Limited reported a turnover of £885,600,000, pre-tax profits of £36,400,000 and a total net worth of £331,800,000 (Source: Experian Group 05/06/2017).
