Stratstone MINI Car Showroom Wetherby Road Harrogate North Yorkshire HG3 1DH

  • Stratstone MINI Car Showroom<br>Wetherby Road<br>Harrogate<br>North Yorkshire<br>HG3 1DH

Stratstone MINI Car Showroom
Wetherby Road
Harrogate
North Yorkshire
HG3 1DH

Freehold Car Showroom Investor

  • Let to Pendragon Property Holdings Limited until 2025 with guarantee from Pendragon plc
  • Annual 2.25% fixed rental increases
  • Approximately 1,120.06 sq m (12,057 sq ft) with some 110 car parking spaces
  • Established trading location on busy arterial route
  • Nearby occupiers include Honda, Hyundai, Seat, Jewson and Sainsbury’s
  • Affluent and attractive North Yorkshire Spa town
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    6
  • Auction
    22nd October 2015
  • Rent
    £105,807 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Legal & General
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Freehold Car Showroom Investor

  • Let to Pendragon Property Holdings Limited until 2025 with guarantee from Pendragon plc
  • Annual 2.25% fixed rental increases
  • Approximately 1,120.06 sq m (12,057 sq ft) with some 110 car parking spaces
  • Established trading location on busy arterial route
  • Nearby occupiers include Honda, Hyundai, Seat, Jewson and Sainsbury’s
  • Affluent and attractive North Yorkshire Spa town
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 6
  • Auction 22nd October 2015
  • Rent £105,807 per Annum Exclusive
  • Status Sold Prior
  • Price  
  • Sector
    Motor Trade, Petrol Station
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Legal & General

Property Information

Location
Miles
17 miles north of Leeds, 21 miles west of York, 58 miles north-east of Manchester
Roads
A661, A658, A1 (M)
Rail
Harrogate Railway Station
Air
Leeds Airport
Situation

The property is situated 2½ miles south-east of Harrogate town centre in an established trading location on the northern side of Wetherby Road (A661) at its junction with Forest Lane. Wetherby Road (A661) is a busy arterial route between Harrogate town centre and the A1(M) to the south-east and is one of the principal routes into the town, benefitting from a high traffic flow and density. Neighbouring occupiers include Honda, Hyundai and Seat car dealerships and Jewson with a large Sainsbury’s supermarket also located close by.

Tenure

Freehold.

Location
Miles
17 miles north of Leeds, 21 miles west of York, 58 miles north-east of Manchester
Roads
A661, A658, A1 (M)
Rail
Harrogate Railway Station
Air
Leeds Airport
Situation

The property is situated 2½ miles south-east of Harrogate town centre in an established trading location on the northern side of Wetherby Road (A661) at its junction with Forest Lane. Wetherby Road (A661) is a busy arterial route between Harrogate town centre and the A1(M) to the south-east and is one of the principal routes into the town, benefitting from a high traffic flow and density. Neighbouring occupiers include Honda, Hyundai and Seat car dealerships and Jewson with a large Sainsbury’s supermarket also located close by.

Tenure

Freehold.

Description

The property is a modern industrial unit arranged over ground floor level and mezzanine. The ground floor comprises a car showroom and workshop with the mezzanine providing office and ancillary accommodation. The property is constructed from a steel portal frame with profiled metal cladding and has an eaves height of approximately 4.5 metres (14¾ ft). The property benefits from
a site area of approximately 0.48 hectares (1.19 acres) and car parking for approximately 110 cars.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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 is a modern industrial unit arranged over ground floor level and mezzanine. The ground floor comprises a car showroom and workshop with the mezzanine providing office and ancillary accommodation. The property is constructed from a steel portal frame with profiled metal cladding and has an eaves height of approximately 4.5 metres (14¾ ft). The property benefits from
a site area of approximately 0.48 hectares (1.19 acres) and car parking for approximately 110 cars.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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 Reviews
Ground
Mezzanine 		Car Showroom/Workshop
Office/Ancillary
936.12 sq m
183.94 sq m
(10,077 sq ft)
(1,980 sq ft)
 PENDRAGON
PROPERTY HOLDINGS
LIMITED (guaranteed by
Pendragon Plc) (1)		 20 years from 04/07/2005 until 03/07/2025 on a full repairing and insuring lease £105,807 (2) 30/10/2016 rising by
2.25% annually
Totals  
1,120.06 sq m
(12,057 sq ft)
     £105,807

(1) Pendragon Property Holdings Limited is a subsidiary of Pendragon Plc. Pendragon Plc is a multi-national operator of franchised motor car dealerships and now
represents over 20 brands in the UK and USA. Pendragon is the largest franchised car dealership operator in the UK with over 220 locations. Stratstone is a
division of Pendragon and is one of the UK’s leading luxury car retailers and operators from 79 locations. (Source: www.pendragonplc.com) Pendragon Plc has an
Experian Credit Score of 100 out of 100, and for the year ending 31st December 2014 reported a turnover of £4,000,400,000, pre-tax profits of £64,600,000 and a
total net worth of -£31,600,000 (Source: www.experian.co.uk 19/08/2015). The group’s interim financial results to 30th June 2015, released August 2015, showed an
increase in underlying profit before tax of £7,500,000 (+22.9%) on the previous year.
(2)The current passing rent is £103,479 per annum. The rent will increase to £105,807 per annum on 30th October 2015. The seller has agreed to top-up the rent to
£105,807 per annum.

Contacts

Seller's Solicitors
Eversheds LLP Bridgewater Place, Water Lane
Leeds
LS11 5DR
Sophie Hardaker 0113 200 4832sophiehardaker@eversheds.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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