Entirely let to Iceland Foods Limited until 2024 (no breaks)
Let on a reversionary lease
Tenant in occupation for at least 25 years
Prime pedestrianised town centre location
Neighbouring occupiers include ASDA, Primark, Superdrug, Boots the Chemist, Halifax, TK Maxx and New Look
Lot 22
Auction 9th July 2014
Rent £225,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Supermarket/Convenience
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
2.5 miles south-west of Liverpool,15 miles north of Chester, 36 miles south-west of Manchester
Roads
A552, A41, M53 (Junction 3)
Rail
Birkenhead Central Rail Station
Air
Liverpool John Lennon Airport
Situation
The property is situated in the town centre occupying a prominent position on the south side of the prime pedestrianised Grange Road, in close proximity to the major Grange and Pyramids Shopping Centres. The property benefits from being located immediately opposite the newly developed 90,000 sq ft ASDA superstore with approximately 700 car parking spaces. The property further benefits from a public multi-storey car park for approximately 650 cars being located immediately to the rear. Neighbouring occupiers include ASDA, Primark, Superdrug, Boots the Chemist, Halifax, TK Maxx and New Look.
Tenure
Freehold.
Location
Miles
2.5 miles south-west of Liverpool,15 miles north of Chester, 36 miles south-west of Manchester
Roads
A552, A41, M53 (Junction 3)
Rail
Birkenhead Central Rail Station
Air
Liverpool John Lennon Airport
Situation
The property is situated in the town centre occupying a prominent position on the south side of the prime pedestrianised Grange Road, in close proximity to the major Grange and Pyramids Shopping Centres. The property benefits from being located immediately opposite the newly developed 90,000 sq ft ASDA superstore with approximately 700 car parking spaces. The property further benefits from a public multi-storey car park for approximately 650 cars being located immediately to the rear. Neighbouring occupiers include ASDA, Primark, Superdrug, Boots the Chemist, Halifax, TK Maxx and New Look.
Tenure
Freehold.
Description
The property comprises retail accommodation on the ground floor with ancillary accommodation on the lower ground and first floor. The property benefits from a return frontage to Horatio Street and rear loading access via Salisbury Street.
6 Week Completion
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 retail accommodation on the ground floor with ancillary accommodation on the lower ground and first floor. The property benefits from a return frontage to Horatio Street and rear loading access via Salisbury Street.
6 Week Completion
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
Lower Ground Ground First
Storage Retail Ancillary
669.08 sq m 708.00 sq m 673.63 sq m
(7,202 sq ft) (7,621 sq ft) (7,250 sq ft)
ICELAND FOODS LIMITED (1)
35 years from 29/09/1989 until 2024 on a full repairing and insuring lease (2)
£225,000 (see note 2)
29/09/2019
Totals
2,050.71 sq m
(22,073 sq ft)
£225,000
(1) For the year ending 29th March 2013, Iceland Foods Limited reported a turnover of £2,604,669,000, pre-tax profits of £188,146,000 and a total net worth of £516,857,000. (Source: www.riskdisk.com 10/06/2014) (2)The tenant occupies the property under a lease for a term of 25 years from 29th September 1989 until 28th September 2014 at a current rent reserved of £225,000 per annum exclusive. The parties have signed a reversionary lease for a term of 10 years from 29th September 2014 at a reserved rent of £175,000
