246 Castle Street Dudley West Midlands DY1 1LQ

246 Castle Street
Dudley
West Midlands
DY1 1LQ

Freehold Retail Investment

Let to Heron Foods Ltd on a new 15 year lease (10 year option to renew) from completion
Heron Foods Ltd was incorporated in 1978 and has reported profits for the last 27 years
Guaranteed rental increases with rent reviews linked to Consumer Price Index (CPI) (subject to a minimum of 1% and a maximum of 3%)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
35
Auction
19th May 2016
Rent
£42,500 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Heron Foods

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Freehold Retail Investment

Let to Heron Foods Ltd on a new 15 year lease (10 year option to renew) from completion
Heron Foods Ltd was incorporated in 1978 and has reported profits for the last 27 years
Guaranteed rental increases with rent reviews linked to Consumer Price Index (CPI) (subject to a minimum of 1% and a maximum of 3%)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 35
Auction 19th May 2016
Rent £42,500 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Heron Foods

Property Information

Location

Miles: 10 miles west of Birmingham City Centre, 6 miles south of Wolverhampton
Roads: M5, A461, A4036, A4123
Rail: Dudley Port Railway Station
Air: Birmingham Airport

Situation

Dudley is a major town some 9 miles west of Birmingham city centre. The property is situated on the north side of Castle Street in Dudley town centre and at its junction with pedestrianised Market Place. Nearby occupiers include Boots the Chemist, Specsavers, New Look and Superdrug.

Tenure

Freehold.

Location

Miles: 10 miles west of Birmingham City Centre, 6 miles south of Wolverhampton
Roads: M5, A461, A4036, A4123
Rail: Dudley Port Railway Station
Air: Birmingham Airport

Situation

Tenure

Freehold.

Description

The property comprises retail accommodation on the ground floor with ancillary accommodation on the first floor. The property benefits from rear access and car parking from Tower Street.

Six 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

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 (Reversion)
Ground First	Retail Ancillary	226.80 sq m 111.00 sq m	(2,441 sq ft) (1,195 sq ft)	HERON FOODS LTD (1)	15 years from completion on a full repairing and insuring lease with a 10 year option to renew	£42,500	Rental increases linked to CPI (subject to minimum of 1% and a maximum of 3%) 5 yearly annually compounded
Totals		337.80 sq m	(3,636 sq ft)			£42,500

(1) Heron Foods Ltd was incorporated in 1978 and operates from over 240 stores nationally (Source:www.heronfoods.com). For the year ending 27th December 2014, Heron Foods Ltd reported a turnover of £255,138,454, pre-tax profits of £1,908,478 and a net worth of £28,145,411. (Source: www.riskdisk.com 06/04/2016).