15 Market Place Loughborough Leicestershire LE11 3EA

15 Market Place
Loughborough
Leicestershire
LE11 3EA

Freehold Retail Investment

  • Let to Greggs plc until 2024 (subject to option)
  • Let on a reversionary lease
  • Tenant in occupation for at least 20 years
  • Pedestrian Town Centre location
  • Important University Town
  • Lot
    6
  • Auction
    22nd May 2014
  • Rent
    £50,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £675,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of a Major Bank
  • Expand
  • Photos
  • Map

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

Freehold Retail Investment

  • Let to Greggs plc until 2024 (subject to option)
  • Let on a reversionary lease
  • Tenant in occupation for at least 20 years
  • Pedestrian Town Centre location
  • Important University Town
  • Lot 6
  • Auction 22nd May 2014
  • Rent
  • Status Sold
  • Price £675,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of a Major Bank

Property Information

Location
Miles
16 miles south of Nottingham
12 miles north of Leicester
42 miles north-east of Birmingham
Roads
M1, A6, A47, A46
Rail
Loughborough Rail Station
Air
East Midlands Airport, Nottingham Airport, Birmingham Airport
Situation

The property is prominently situated on the west side of the pedestrianised Market Place close to its junction with High Street and Swan Street in the heart of this important university town.
Neighbouring occupiers include Boots, Lloyds Bank, Dorothy Perkins and Caffé Nero.

Tenure

Freehold.

Location
Miles
16 miles south of Nottingham
12 miles north of Leicester
42 miles north-east of Birmingham
Roads
M1, A6, A47, A46
Rail
Loughborough Rail Station
Air
East Midlands Airport, Nottingham Airport, Birmingham Airport
Situation

The property is prominently situated on the west side of the pedestrianised Market Place close to its junction with High Street and Swan Street in the heart of this important university town.
Neighbouring occupiers include Boots, Lloyds Bank, Dorothy Perkins and Caffé Nero.

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation with ancillary accommodation on the first, second and third floors. The property benefits from a rear access via George Yard.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises ground floor retail accommodation with ancillary accommodation on the first, second and third floors. The property benefits from a rear access via George Yard.

VAT

VAT is not 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 Review
Ground
First
Second
Third
Retail
Ancillary
Ancillary
Ancillary
151.14 sq m
79.58 sq m
54.63 sq m
27.19 sq m
(1,627 sq ft)
(856 sq ft)
(587 sq ft)
(293 sq ft)
GREGGS PLC (1) 30 years from 18/06/1994 until 2024 on a full repairing and insuring lease (2) £50,000
24/06/2019
Totals
312.54 sq m
(3,363 sq ft)
    £50,000

(1) Greggs plc were incorporated in 1951 and currently trade from over 1,671 outlets nationwide (www.greggs.co.uk) For the year ending 29/12/2013, Greggs plc reported a turnover of £734,502,000, pre-tax profits of £53,342,000 and a net worth of £226,646,000. (Source: www.riskdisk.com 22/04/2014).
(2)The tenant occupies the property under a lease for a term of 20 years from 18/06/1994 until 23rd June 2014 at a rent reserved of £56,000 per annum exclusive. The parties have signed a reversionary lease for a term of 10 years from 24th June 2014 until 2024 at a reserved rent of £50,000 per annum exclusive. The reversionary lease provides for a tenant option to determine the lease on 24th June 2019 subject to paying a £25,000 penalty.

Property Documents

  • Catalogue Page
    Updated Date
    30.04.14
    File Size
    462 KB
    View PDF
  • Site Plan
    Updated Date
    30.04.14
    File Size
    538 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
Seller's Solicitors
Dentons UKMEA LLP The Pinnacle
Milton Keynes
MK9 1FE
Susie Stross 01908 257 656Susie.stross@dentons.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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