15A Sheep Market Spalding Lincolnshire PE11 1BE

  • 15A Sheep Market<br>Spalding<br>Lincolnshire<br>PE11 1BE

15A Sheep Market
Spalding
Lincolnshire
PE11 1BE

Freehold Retail Investment

  • Let to Heron Foods Ltd on a 17.5 year lease until 2031 (option to renew until 2041)
  • 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%)
  • Neighbouring occupiers include Boots the Chemist, Superdrug, Barclays Bank, Specsavers and W H Smith
  • Producing £40,000 per annum exclusive rising to a minimum of £42,040 in 2019
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    45
  • Auction
    13th October 2016
  • Rent
    £40,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £585,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
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Freehold Retail Investment

  • Let to Heron Foods Ltd on a 17.5 year lease until 2031 (option to renew until 2041)
  • 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%)
  • Neighbouring occupiers include Boots the Chemist, Superdrug, Barclays Bank, Specsavers and W H Smith
  • Producing £40,000 per annum exclusive rising to a minimum of £42,040 in 2019
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 45
  • Auction 13th October 2016
  • Rent £40,000 per Annum Exclusive
  • Status Sold
  • Price £585,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG

Property Information

Location
Miles
21 miles north-east of Peterborough, 50 miles north of Cambridge, 51 miles south-east of Nottingham
Roads
A16, A151
Rail
Spalding Railway Station
Air
Birmingham International Airport, Stansted Airport
Situation

The property is situated on the north side of Sheep Market, some 50 metres from pedestrianised Hall Place, Spaldings prime retailing thoroughfare. Neighbouring occupiers include Boots the Chemist, Superdrug, Barclays Bank, Specsavers and W H Smith.

Tenure

Freehold.

Location
Miles
21 miles north-east of Peterborough, 50 miles north of Cambridge, 51 miles south-east of Nottingham
Roads
A16, A151
Rail
Spalding Railway Station
Air
Birmingham International Airport, Stansted Airport
Situation

The property is situated on the north side of Sheep Market, some 50 metres from pedestrianised Hall Place, Spaldings prime retailing thoroughfare. Neighbouring occupiers include Boots the Chemist, Superdrug, Barclays Bank, Specsavers and W H Smith.

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with ancillary accommodation on the first floor and benefits from rear access off Chapel Lane.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises a ground floor retail unit with ancillary accommodation on the first floor and benefits from rear access off Chapel Lane.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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 Reviews
Ground
First		 Retail
Ancillary
350.40 sq m
154.00 sq m
(3,772 sq ft)
(1,658 sq ft)
 HERON
FOODS
LIMITED (1)		 17.5 years from 06/01/2014
until 05/07/2031 with a tenant
option to renew until 2041
on a full repairing and
insuring lease		 £40,000 2019, 2024 & 2029
rental increases by CPI
(subject to minimum
of 1% and a maximum of
3%) 5 yearly compounded annually
Totals  
504.40 sq m
(5,430 sq ft)
     £40,000

(1) Heron Foods Ltd was incorporated in 1978 and operates from some 240 outlets nationally. In some 27 years of trading Heron Foods Ltd have always reported annual profits. For the year ending 27th December 2014, Heron Foods Limited reported a turnover of £255,138,454, pre-tax profits of £1,908,478 and a total net worth of £28,145,411. (Source: www.riskdisk.com 05/09/2016)

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Guest Walker & Co 12A Shambles
York
Yorkshire
YO1 7LZ
John Walker 01904 624 903john.walker@guestwalker.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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