88-90 High Street Newcastle-under-Lyme Staffordshire ST5 1QQ

88-90 High Street
Newcastle-under-Lyme
Staffordshire
ST5 1QQ

Freehold Retail Investment

Let to Games Station Ltd and Midlands Air Ambulance Charity
Comprises two prominent retail units on pedestrianised High Street
Nearby occupiers include Boots the Chemist, Superdrug, Laura Ashley and McDonald’s
Car parking for approximately 8 cars
Currently Producing £54,500 p.a.x. rising to £55,500 in December 2017
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
12
Auction
23rd March 2016
Rent
£54,500 per Annum Exclusive
Status
Sold
Price
£515,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of Joint LPA Receivers Savills

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Freehold Retail Investment

Let to Games Station Ltd and Midlands Air Ambulance Charity
Comprises two prominent retail units on pedestrianised High Street
Nearby occupiers include Boots the Chemist, Superdrug, Laura Ashley and McDonald’s
Car parking for approximately 8 cars
Currently Producing £54,500 p.a.x. rising to £55,500 in December 2017
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 12
Auction 23rd March 2016
Rent £54,500 per Annum Exclusive
Status Sold
Price £515,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of Joint LPA Receivers Savills

Property Information

Location

Miles: 42 miles north of Birmingham, 42 miles south of Manchester
Roads: A34, A50, A53, M6
Rail: Stoke-on-Trent Railway Station
Air: Manchester Airport

Situation

Newcastle-under-Lyme is equidistant between Manchester and Birmingham and some 2 miles east of the University of Keele. The property is situated on the south side of pedestrianised High Street, near its junction with Friars Street. Nearby occupiers include Boots the Chemist, Superdrug, Laura Ashley and McDonald’s, with The Roebuck Shopping Centre some 100 metres to the west.

Tenure

Freehold.

Location

Miles: 42 miles north of Birmingham, 42 miles south of Manchester
Roads: A34, A50, A53, M6
Rail: Stoke-on-Trent Railway Station
Air: Manchester Airport

Situation

Tenure

Freehold.

Description

The property comprises two retail units with retail accommodation on the ground floor and ancillary accommodation in the basement and on first and second floors. The property benefits from rear car parking for approximately 8 cars accessed from Friars Street.

Six Week Completion

Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

No.	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Reversion
88	Ground Basement First Second	Retail Ancillary Ancillary Ancillary	143.60 sq m 36.10 sq m 19.60 sq m 38.50 sq m	(1,546 sq ft) (389 sq ft) (211 sq ft) (414 sq ft)	MIDLANDS AIR AMBULANCE TRADING LIMITED (1) (3) (4)	5 years from 19/12/2013	£22,000 (2)	18/12/2018
90	Ground First	Retail Ancillary	92.70 sq m 27.00 sq m	(998 sq ft) (291 sq ft)	GAMES STATION LIMITED	15 years from 21/10/2003	£32,500	20/10/2018
Totals			357.50 sq m	(3,848 sq ft)			£54,500

(1) Midlands Air Ambulance Charity (Reg No 1143118) is the parent of Midlands Air Ambulance Trading Limited. (Source: www.riskdisk.com 24/02/2016).
(2) As to Midlands Air Ambulance Charity, the lease provides for the rent to be increased to £22,500 p.a.x. from 19th December 2016 and £23,000 p.a.x. from 19th December 2017.
(3) As to Midlands Air Ambulance Trading Limited, the lease is outside the Security of Tenure Provision of the Landlord and Tenant Act 1954.
(4) There is a rent deposit deed of £9,250 from Midlands Air Ambulance Trading Limited.