15A Sheep Market Spalding Lincolnshire PE11 1BE

15A Sheep Market
Spalding
Lincolnshire
PE11 1BE

Freehold Retail Investment

  • Let to Heron Foods Ltd on a new 15 year lease (10 year option to renew)
  • Heron Foods Ltd was incorporated in 1978 and has reported profits for the last 26 years
  • Guaranteed rental increases with Rent Reviews linked to Consumer Price Index (CPI) (subject to a minimum of 1% and a maximum of 3%)
  • Neighbouring occupiers include Boots, Barclays Bank, Greggs and W H Smith
  • Lot
    12
  • Auction
    5th December 2013
  • Rent
    £40,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £500,000
  • Sector
    High Street Retail
  • Auction Venue
    Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Heron Foods
Important Update
  • Expand
  • Photos
  • Map

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

Freehold Retail Investment

  • Let to Heron Foods Ltd on a new 15 year lease (10 year option to renew)
  • Heron Foods Ltd was incorporated in 1978 and has reported profits for the last 26 years
  • Guaranteed rental increases with Rent Reviews linked to Consumer Price Index (CPI) (subject to a minimum of 1% and a maximum of 3%)
  • Neighbouring occupiers include Boots, Barclays Bank, Greggs and W H Smith
  • Lot 12
  • Auction 5th December 2013
  • Rent
  • Status Sold
  • Price £500,000
  • Sector
    High Street Retail
  • Auction Venue
    Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Heron Foods

Property Information

Location
Miles
21 miles north-east of Peterborough, 50 miles north of Cambridge, 51 miles south-east of Nottingham
Roads
A16, A151
Rail
Spalding Railway Station
Air
Birmingham International Airport, Stansted Airport
Situation

The property is situated approximately 50 metres from the pedestrianised Hall Place, Spalding’s prime retailing thoroughfare and benefits from a twice weekly market directly outside the property. Neighbouring occupiers include Boots, Barclays Bank, Greggs and W H Smith.

Tenure

Freehold.

Location
Miles
21 miles north-east of Peterborough, 50 miles north of Cambridge, 51 miles south-east of Nottingham
Roads
A16, A151
Rail
Spalding Railway Station
Air
Birmingham International Airport, Stansted Airport
Situation

The property is situated approximately 50 metres from the pedestrianised Hall Place, Spalding’s prime retailing thoroughfare and benefits from a twice weekly market directly outside the property. Neighbouring occupiers include Boots, Barclays Bank, Greggs and W H Smith.

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with ancillary accommodation on the first floor.

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 a ground floor retail unit with ancillary accommodation on the first floor.

VAT

VAT is 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 Reviews
Ground
First
Retail
Ancillary
350.40 sq m
154.00 sq m
(3,772 sq ft)
(1,658 sq ft)
HERON FOODS LTD (1) 15 years from completion on a full repairing and insuring lease with a 10 year option to renew £40,000 2019, 2024
Rental increases by CPI
(subject to minimum of 1%
and a maximum of 3%)
5 yearly compounded
annually
Totals  
504.40 sq m
(5,430 sq ft)
    £40,000

(1) Heron Foods Ltd was incorporated in 1978 and operates from some 235 outlets nationally. Heron Foods Ltd have reported annual profits for the last 26 years. For the year ending 31st December 2011, Heron Foods Limited reported a turnover of £164,877,489, pre-tax profits of £8,104,117 and a total net worth of £30,030,205. (Source: www.riskdisk.com 28th October 2013)

Property Documents

  • Catalogue Page
    Updated Date
    13.11.13
    File Size
    114 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

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.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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