Majority let to Shoe Zone Limited on a 15 year Lease until 2020
Prominent position within the Jasper Square Retail Park
Nearby occupiers include Next, Argos, Matalan and Asda
On-site car parking for approximately 269 cars
Six Week Completion
Lot 41
Auction 5th December 2013
Rent £55,900 per Annum Exclusive
Status Withdrawn Post
Price
Sector Retail Warehouse
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
Stoke-on-Trent 3 miles
Manchester 36 miles
Birmingham 48 miles
Roads
A500, M6 (Junction 16)
Rail
Kidsgrove
Air
Manchester International Airport
Situation
The property is situated in a prominent central location within the Jasper Square Retail Park and on the busy Rathbone Street access to the retail park from the High Street. The Shoe Zone unit fronts the retail park with return frontage to Rathbone Street and the Co-Operative Travel unit fronts the High Street and also has return frontage.
Tenure
Freehold.
Location
Miles
Stoke-on-Trent 3 miles
Manchester 36 miles
Birmingham 48 miles
Roads
A500, M6 (Junction 16)
Rail
Kidsgrove
Air
Manchester International Airport
Situation
The property is situated in a prominent central location within the Jasper Square Retail Park and on the busy Rathbone Street access to the retail park from the High Street. The Shoe Zone unit fronts the retail park with return frontage to Rathbone Street and the Co-Operative Travel unit fronts the High Street and also has return frontage.
Tenure
Freehold.
Description
Unit 2A comprises a modern retail unit of brick construction with glazed frontage and metal profile roof. 100-104 High Street comprises a traditional retail unit of brick construction with retail accommodation to the ground floor, and 2 floors of ancillary accommodation above.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
Unit 2A comprises a modern retail unit of brick construction with glazed frontage and metal profile roof. 100-104 High Street comprises a traditional retail unit of brick construction with retail accommodation to the ground floor, and 2 floors of ancillary accommodation above.
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
Reviews
2A Jasper Square
Ground
Retail and Ancillary
275.00 sq m
(2,960 sq ft)
SHOE ZONE LIMITED (1)
15 years from 31/05/2005 until 30/05/2020 on a full repairing and insuring lease
£38,400
31/05/2015
100 – 104 High Street
Ground First Second
Retail Ancillary Plant
91.42 sq m 25.70 sq m
(984 sq ft) (277 sq ft)
UNITED CO-OPERATIVES TRAVEL GROUP LTD (2)
15 years from 20/06/2005 until 19/06/2020 on a full repairing and insuring lease
£17,500
20/06/2015
Totals
392.12 sq m
(4,221 sq ft)
£55,900
(1) Authorised Guarantee Agreement provided by Shoefayre Limited upon assignment to Shoe Zone Limited. For the year ending 29th September 2012, Shoe Zone Limited reported a turnover of £189,423,000, pre-tax profits of £8,488,000 and a total net worth of £36,609,000. (Source: www.riskdisk.com 04/11/2013). (2)United Co-operatives Travel Group Limited is now known as Co-op Group Travel 2 Holdings Limited. The tenants have an option to determine the lease on 19/06/2015. They are not currently in occupation. For the year ending 15th January 2013, the ultimate holding company, Co-operative Group Limited reported a turnover of £12,448,000,000 and a total net worth of £2,669,000,000. (Source: www.riskdisk.com 07.11.2013).
Contacts
Seller's Solicitors
Kuit Steinart Levy LLP 3 St Mary’s Parsonage Manchester M3 2RD +44 (0)161 838 8114
