On behalf of The co-operative Entirely let until 2035
First review (30th January 2014) to Open Market and annual RPI uplifts thereafter (capped between 2%-4%)
Car parking for approximately 75 cars
Lot 7
Auction 27th May 2010
Rent £85,000 per Annum
Status Withdrawn Prior
Price
Sector Supermarket/Convenience
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Miles
2 miles south of Halifax
6 miles south-west of Bradford
12 miles south-west of Leeds
Roads
?M62, A629
Rail
?Sowerby Bridge Rail, Halifax Rail
Air
Leeds Bradford International Airport
Situation
The property is prominently situated just off the Huddersfield Road in close proximity to the town centre.
Tenure
Freehold.
Location
Miles
2 miles south of Halifax
6 miles south-west of Bradford
12 miles south-west of Leeds
Roads
?M62, A629
Rail
?Sowerby Bridge Rail, Halifax Rail
Air
Leeds Bradford International Airport
Situation
The property is prominently situated just off the Huddersfield Road in close proximity to the town centre.
Tenure
Freehold.
Description
The property comprises a freestanding CONVENIENCE STORE with frontages to both Huddersfield Road and South Lane. The property benefits from a glazed frontage facing the car park with approximately 75 car parking spaces. The site has an area of approximately 0.54 hectares (1.33 acres). Rent ?85,000 per annum exclusive suject to Note (2) below. VATVAT is applicable on this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a freestanding CONVENIENCE STORE with frontages to both Huddersfield Road and South Lane. The property benefits from a glazed frontage facing the car park with approximately 75 car parking spaces. The site has an area of approximately 0.54 hectares (1.33 acres). Rent ?85,000 per annum exclusive suject to Note (2) below. VATVAT is applicable on 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
Rent/Review
Ground
Retail
1,054 sq m
(11,346 sq ft)
LINEBUSH VI LTD (guaranteed by MILLS GROUP LIMITED) (1)
25 years from 30/01/2010 until 2035 on a full repairing and insuring lease
£85,000 (2)
2014 and annually thereafter (3)
Totals
1,054 sq m
(11,346 sq ft)
(1)?For the year ending 31st January 2009 Mills Group Limited reported a turnover of ?10,294,000, pre-tax profits of ?213,000 and a net worth of ?1,193,000. (2)?The current rent reserved is ?65,000 p.a.x. Under the terms of the lease there will be a minimum rental increase to ?85,000 p.a.x. on 30th January 2011. The vendor will pay the buyer the difference between the current rent reserved of ?65,000 p.a.x. and ?85,000 p.a.x. from completion of the sale until this date. As a result the property will produce an income of ?85,000 p.a.x. (3)?On the first review date (30th January 2014), the rent will be reviewed to Open Market Rent. All subsequent annual reviews will be to RPI (capped between 2%-4%).
