Let to Iceland Foods Limited until February 2030 (no breaks)
2025 tenant break option removed
5 yearly fixed rental increases at 2.5% per annum compounded
Approximately 6,417 sq ft
Nearby occupiers include Pizza Express, Boots the Chemist, Santander and KFC
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 8
Auction 19th May 2016
Rent £53,742 per Annum Exclusive
Status Sold
Price £775,000
Sector Supermarket
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
8 miles north of Blackpool, 21 miles north-west of Preston, 57 miles north-west of Manchester
Roads
A585, A587, M55
Air
Blackpool Airport
Situation
The property occupies a prominent position on the southern side of Lord Street, between its junctions with Preston Street and London Street, in the heart of Fleetwood town centre. Nearby occupiers include Pizza Express, J D Wetherspoon, Boots the Chemist, KFC and branches of NatWest and Santander banks.
Tenure
Freehold.
Location
Miles
8 miles north of Blackpool, 21 miles north-west of Preston, 57 miles north-west of Manchester
Roads
A585, A587, M55
Air
Blackpool Airport
Situation
The property occupies a prominent position on the southern side of Lord Street, between its junctions with Preston Street and London Street, in the heart of Fleetwood town centre. Nearby occupiers include Pizza Express, J D Wetherspoon, Boots the Chemist, KFC and branches of NatWest and Santander banks.
Tenure
Freehold.
Description
The property comprises a ground floor supermarket with ancillary accommodation on the first floor.
Six Week Completion
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 comprises a ground floor supermarket with ancillary accommodation on the first floor.
Six Week Completion
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
Fixed Rental Uplifts/(Reversion)
Ground First
Supermarket/Ancillary Ancillary
453.65 sq m 142.51 sq m
(4,883 sq ft) (1,534 sq ft)
Iceland Foods Limited (1)
25 years from 28/02/2005 on a full repairing and insuring lease
£53,742 rising to £60,804 in Feb 2020 and to £68,794 in Feb 2025
28/02/2020 28/02/2025 (27/02/2030)
Totals
596.16 sq m
(6,417 sq ft)
£53,742
(1) For the year ending 27th March 2015, Iceland Foods Limited reported a turnover of £2,682,021,000, pre-tax profits of £58,794,000 and a total net worth of £709,630,000. (Source: Experian Group 04/04/2016).
NB: Please note that the property is also subject to a lease for an electricity substation for a term of 99 years from 25th December 1961 at a rent of £1 per annum.