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 linkedmto Consumer Price Index (CPI) (subject to a minimum of 1% and a maximum of 3%)
Neighbouring occupiers include Boots the Chemist, Barclays Bank, HSBC Bank, W H Smith and Superdrug
Lot 6
Auction 5th December 2013
Rent £50,000 per Annum Exclusive
Status Sold
Price £654,000
Sector High Street Retail
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Heron Foods
Property Information
Location
Miles
18 miles south-east of Doncaster, 19 miles north of Lincoln, 22 miles south-west of Grimsby
Roads
A1(M), A631
Rail
Gainsborough Central Rail Station
Air
Doncaster Robin Hood Airport, Leeds Bradford International Airport
Situation
The property is situated in a prime trading location on Market Place adjacent to Boots the Chemist and opposite Superdrug. Other neighbouring occupiers include Barclays Bank, HSBC Bank and W H Smith.
Tenure
Freehold.
Location
Miles
18 miles south-east of Doncaster, 19 miles north of Lincoln, 22 miles south-west of Grimsby
Roads
A1(M), A631
Rail
Gainsborough Central Rail Station
Air
Doncaster Robin Hood Airport, Leeds Bradford International Airport
Situation
The property is situated in a prime trading location on Market Place adjacent to Boots the Chemist and opposite Superdrug. Other neighbouring occupiers include Barclays Bank, HSBC Bank and W H Smith.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with ancillary accommodation on the first floor. The second floor is currently not used by the tenant and has no internal access.
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. The second floor is currently not used by the tenant and has no internal access.
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 Second
Retail Ancillary Not in Use
640.80 sq m 259.04 sq m No Access
(6,898 sq ft) (2,788 sq ft) No Access
HERON FOODS LTD (1)
15 years from completion on a full repairing and insuring lease with a 10 year option to renew
£50,000
2019, 2024 Rental increases by CPI (subject to minimum of 1% and a maximum of 3%) 5 yearly compounded annually
Totals
899.84 sq m
(9,686 sq ft)
£50,000
(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 31 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)