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
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Heron Foods
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

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
  • 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

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.

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

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.

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).

Property Documents

  • Site Plan
    Updated Date
    27.04.16
    File Size
    481 KB
    View PDF
  • Catalogue Page
    Updated Date
    27.04.16
    File Size
    684 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
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Andrew Jackson Solicitors Marina Court, Castle Street
Hull
East Yorkshire
HU1 1TJ
Adrian West 01482 601394adrian.west@andrewjackson.co.uk

Useful Links

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

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