Entirely let to The Factory Shop Limited with guarantee until October 2029 (no breaks)
Fixed Rental Uplifts to £59,026 p.a.x. in 2019 and £66,782 p.a.x.in 2024
200 metres from proposed £42 million Fox Valley mixed use development
Nearby occupiers include Ladbrokes and HSBC
Six Week Completion
Lot 28
Auction 13th February 2014
Rent £52,170 per Annum Exclusive
Status Sold
Price £680,000
Sector Retail Warehouse
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Administrators
Property Information
Location
Miles
10 miles north of Sheffield,22 miles west of Doncaster,30 miles east of Manchester
Roads
A616, A629, M1 (Jct 36)
Rail
Penistone Rail
Air
Sheffield City Airport, Robin Hood Doncaster Airport
Situation
The property is situated on the southern side of Manchester Road (B6088) within Stocksbridge town centre. Nearby occupiers include Ladbrokes, HSBC, The Local Off Licence and Co-Operative Supermarket and Pharmacy.
The property lies approximately 200 metres from the £42 million Fox Valley mixed use development which will provide a 63,000 sq ft Tesco, retail units, café and restaurant units, office space and 635 customer car parking spaces. Further information is available at www.dransfield.co.uk
Tenure
Freehold.
Location
Miles
10 miles north of Sheffield,22 miles west of Doncaster,30 miles east of Manchester
Roads
A616, A629, M1 (Jct 36)
Rail
Penistone Rail
Air
Sheffield City Airport, Robin Hood Doncaster Airport
Situation
The property is situated on the southern side of Manchester Road (B6088) within Stocksbridge town centre. Nearby occupiers include Ladbrokes, HSBC, The Local Off Licence and Co-Operative Supermarket and Pharmacy.
The property lies approximately 200 metres from the £42 million Fox Valley mixed use development which will provide a 63,000 sq ft Tesco, retail units, café and restaurant units, office space and 635 customer car parking spaces. Further information is available at www.dransfield.co.uk
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with storage and ancillary accommodation on the first floor. The property benefits from servicing access and car parking to the rear.
Note
This property is being marketed for sale on behalf of the Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Administrators to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
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 storage and ancillary accommodation on the first floor. The property benefits from servicing access and car parking to the rear.
Note
This property is being marketed for sale on behalf of the Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Administrators to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
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
Reversion
Ground First
Retail/Storage Storage/Ancillary
768.80 sq m 98.40 sq m
(8,275 sq ft) (1,059 sq ft)
THE FACTORY SHOP LIMITED (1) (guaranteed by The Factory Shop Group Limited)
25 years from 18/10/2004 until 17/10/2029 on a full repairing and insuring lease
£52,170
18/10/2019 and 18/10/2024 (2)
Totals
867.20 sq m
(9,334 sq ft)
£52,170 rising to £59,026 p.a.x. in 2019 and £66,782 p.a.x. in 2024
(1) For the year ending 31st March 2013, The Factory Shop Limited reported a turnover of £161,996,000, pre-tax profits of £8,380,000 and a total net worth of £36,661,000. (Source: www.riskdisk.com 04/11/2013) (2)Under the terms of the lease there are fixed rental uplifts to £59,026 p.a.x. in 2019 and to £66,782 p.a.x. in 2024.
