Debenhams Department Store, Rylands Building 109-127 Market Street Manchester M60 1TA

Debenhams Department Store, Rylands Building
109-127 Market Street
Manchester
M60 1TA

Prime Freehold Ground Rent Investment in City Centre Location

Entirely let to a subsidiary of The British Land Company plc until 2867 and sub-let to Debenhams plc until 2039
Approximately 32,820.10 sq m (353,276 sq ft) and 0.505 hectares (1.25 acres) in the city centre
Highly prominent and substantial department store in prime pedestrianised retail location
Situated adjacent to the Arndale Shopping Centre and opposite Primark
Six week completion available

Lot
8
Auction
9th December 2010
Rent
£50,755 per Annum Exclusive
Status
Sold
Price
£1,080,000
Sector
Ground Rent
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On instructions from Nomad Limited, a wholly owned subsidiary of Targetfollow Property Holdings Limited (in administration)

Important Update

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Prime Freehold Ground Rent Investment in City Centre Location

Entirely let to a subsidiary of The British Land Company plc until 2867 and sub-let to Debenhams plc until 2039
Approximately 32,820.10 sq m (353,276 sq ft) and 0.505 hectares (1.25 acres) in the city centre
Highly prominent and substantial department store in prime pedestrianised retail location
Situated adjacent to the Arndale Shopping Centre and opposite Primark
Six week completion available

Lot 8
Auction 9th December 2010
Rent £50,755 per Annum Exclusive
Status Sold
Price £1,080,000
Sector
Ground Rent
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On instructions from Nomad Limited, a wholly owned subsidiary of Targetfollow Property Holdings Limited (in administration)

Property Information

Location

Liverpool (34 miles west), Leeds (40 miles north)
Roads: M60, M62, M602
Rail: Manchester Piccadilly (direct to London Euston)
Air: Manchester International Airport

Situation

The property is situated in a highly prominent corner position at the corner of Market Street and High Street in Manchester's main shopping core. The property is adjacent to the Arndale Shopping Centre and opposite Primark with other nearby occupiers including HMV, Superdrug and Barclays Bank.

Tenure

Freehold.

Location

Liverpool (34 miles west), Leeds (40 miles north)
Roads: M60, M62, M602
Rail: Manchester Piccadilly (direct to London Euston)
Air: Manchester International Airport

Situation

Tenure

Freehold.

Description

The property comprises a substantial detached department store on a site of approximately 0.505 hectares (1.25 acres) in Manchester city centre. The property comprises retail accommodation on basement, ground, mezzanine, first, second and third floors while the fourth to seventh floors comprise ancillary accommodation. Additionally there are two, 11-person customer lifts, five goods lifts, a loading bay and five roller shutter doors.

VAT

VAT is not applicable to this lot.

EPC

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

Description

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
Basement to Seventh	Retail/Ancillary	32.820.10 sq m	(353,276 sq ft)	BF PROPCO (NO. 12) LIMITED, a subsidiary of THE BRITISH LAND COMPANY PLC (1) (2)	914 years from 25th December 1953 until 2867 on a full repairing and insuring lease	£50,755.20
Totals		32,820.10 sq m	(353,276 sq ft)			£50,755.20

(1) For the year ending 31st March 2010, BF Propco (No. 12) Limited reported a turnover of £4,877,000, pre-tax profits of £855,000 and a net worth of £5,169,000. The British Land Company plc is the ultimate parent company. For the year ending 31st March 2010, The British Land Company plc reported a turnover of £394,000,000, pre-tax profits of £1,128,000,000 and a net worth of £4,198,000,000. (Source: www.riskdisk.com)
(2) The tenant has sublet the entire property to Debenhams plc for a term of 35 years from 23rd April 2004 until 2039

Property Documents

A to Z
Updated Date
17.11.10
File Size
140 KB
View PDF
Catalogue Page
Updated Date
17.11.10
File Size
323 KB
View PDF
Location
Updated Date
17.11.10
File Size
358 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

Charlie Powter +44 (0)20 7034 4853 +44 (0)7768 120 904charlie.powter@acuitus.co.uk

Seller's Solicitors

CMS Cameron McKenna LLP Mitre House
160 Aldersgate Street
London
EC1A 4DD +44 (0)20 7367 2000

Ref. Eleanor Corey. ELJY/LMY/OT0117.10027 +44 (0)20 7367 2335eleanor.corey@cms-cmck.com

Useful Links

Acuitus Finance

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

Property Insurance

Natasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk