Entirely let to Iceland Foods Limited until 2036 (no breaks)
Benefits from fixed rental increases
Totals approximately 8,335 sq ft
On-site car parking for approximately 40 cars
Well located in highly prominent roadside position
Lot 12
Auction 19th October 2017
Rent £67,607 per Annum Exclusive
Status Sold
Price £1,250,000
Sector Supermarket
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
5 miles north of Doncaster town centre, 20 miles north-east of Sheffield, 25 miles south-east of Leeds
Roads
A1. A19, A1(M), M1, M62
Rail
Adwick Interchange Railway Station
Air
Robin Hood Doncaster Sheffield Airport
Situation
Carcroft is located five miles north of Doncaster town centre and benefits from excellent road communications being serviced by the A1, A19 and A1(M). The property occupies a highly prominent position on the north side of the High Street, at its junction with the busy Skellow Road (B1220) which provides access to the A1 to the north-west. The property is situated in mixed retail, residential and industrial area with nearby occupiers including DFS and Asda.
Tenure
Freehold.
Location
Miles
5 miles north of Doncaster town centre, 20 miles north-east of Sheffield, 25 miles south-east of Leeds
Roads
A1. A19, A1(M), M1, M62
Rail
Adwick Interchange Railway Station
Air
Robin Hood Doncaster Sheffield Airport
Situation
Carcroft is located five miles north of Doncaster town centre and benefits from excellent road communications being serviced by the A1, A19 and A1(M). The property occupies a highly prominent position on the north side of the High Street, at its junction with the busy Skellow Road (B1220) which provides access to the A1 to the north-west. The property is situated in mixed retail, residential and industrial area with nearby occupiers including DFS and Asda.
Tenure
Freehold.
Description
The property comprises a single storey, purpose built supermarket totalling approximately 8,335 sq ft and benefits from on-site customer car parking for approximately 40 cars. The site has an approximate area of 0.26 hectares (0.64 acres).
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 single storey, purpose built supermarket totalling approximately 8,335 sq ft and benefits from on-site customer car parking for approximately 40 cars. The site has an approximate area of 0.26 hectares (0.64 acres).
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Supermarket
774.33 sq m
(8,335 sq ft)
ICELAND FOODS LIMITED (1)
Approx 23 1/2 years from 01/11/2012 expiring 14/04/2036 on a full repairing and insuring lease
£67,607 (2)
15/04/2021 & 5 yearly (2)
Total
774.33 sq m
(8,335 sq ft)
£67,607
(1) For the year ending 24th March 2017, Iceland Foods Limited reported a turnover of £2,770,500,000, pre-tax profits of £67,300,000 and a total net worth of £784,100,000 (Source: Experian Group 20/09/2017). (2) The current rent reserved is £60,000 p.a.x. The lease is subject to fixed increases in rent - from 15/04/2018 the rent is due to increase to £67,607 p.a.x. The seller has agreed to adjust the completion monies so that the property will effectively produce £67,607 p.a.x. from completion of the sale. The lease is subject to further fixed increases - on 15/04/2021 the rent will increase to £72,805 p.a.x. On 15/04/2026 the rent will increase to £82,373 p.a.x. and on 15/04/2031 the rent will increase to £93,197 p.a.x.
