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.