Rent reviews linked to RPI annually from 2014 (minimum 2%, maximum 4%)
Car parking for approximately 75 cars
Rent subject to Note (2) below
On behalf of The Co-Operative
Lot 23
Auction 21st October 2010
Rent
Status Sold Post
Price
Sector Supermarket
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Miles
2 miles south of Halifax, 6 miles south-west of Bradford, 12 miles south-west of Leeds
Roads
M62, A629
Rail
Sowerby Bridge Rail, Halifax Rail
Air
Leeds Bradford International Airport
Situation
The property is prominently situated just off Huddersfield Road in close proximity to the town centre.
Tenure
Freehold.
Location
Miles
2 miles south of Halifax, 6 miles south-west of Bradford, 12 miles south-west of Leeds
Roads
M62, A629
Rail
Sowerby Bridge Rail, Halifax Rail
Air
Leeds Bradford International Airport
Situation
The property is prominently situated just off Huddersfield Road in close proximity to the town centre.
Tenure
Freehold.
Description
The property comprises a freestanding CONVENIENCE STORE with frontages to both Huddersfield Road and South Lane. The property benefits from a glazed frontage facing the car park with approximately 75 car parking spaces. The site has an area of approximately 0.54 hectares (1.33 acres).
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 freestanding CONVENIENCE STORE with frontages to both Huddersfield Road and South Lane. The property benefits from a glazed frontage facing the car park with approximately 75 car parking spaces. The site has an area of approximately 0.54 hectares (1.33 acres).
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
Retail
1,054 sq m
(11,346 sq ft)
LINEBUSH VI LTD (guaranteed by Mills Group plc) (1)
25 years from 30/01/2010 until 2035 on a full repairing and insuring lease
£85,000
2014 and annually thereafter (3)
Totals
1,054 sq m
(11,346 sq ft)
£85,000
(1) For the year ending 31/01/2009, Mills Group Holdings plc reported a turnover of £10,294,000, pre-tax profits of £213,000 and a net worth of £1,193,000.(2) The current rent reserved is £65,000 p.a.x. Under the terms of the lease there will be a minimum rental increase to £85,000 p.a.x. on 30th January 2012. The Vendor will pay the Buyer the difference between the current rent reserved of £65,000 p.a.x. and £85,000 p.a.x. from completion of the sale until this date. As a result the property will produce an income of £85,000 p.a.x.(3) Rent reviews are linked to RPI (minimum 2% maximum 4%).