14 Cheapside & 79 Market Place (Part) Leicester Leicestershire LE1 5EA

14 Cheapside & 79 Market Place (Part)
Leicester
Leicestershire
LE1 5EA

City Centre Retail Investment

  • New 10 year lease from April 2016 to Crawshaw Butchers Limited (No breaks)
  • Rebased rent (Previous Rent £90,000 p.a.x.)
  • Approximately 5,110 sq ft
  • Excellent City Centre location equidistant to Highcross and Haymarket Shopping Centres
  • Nearby occupiers include Primark, H&M, Marks & Spencer, Caffè Nero and Boots the Chemist
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    31
  • Auction
    8th December 2016
  • Rent
    £45,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £590,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of LaSalle Investment Management
Important Update
  • Expand
  • Photos
  • Map

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

City Centre Retail Investment

  • New 10 year lease from April 2016 to Crawshaw Butchers Limited (No breaks)
  • Rebased rent (Previous Rent £90,000 p.a.x.)
  • Approximately 5,110 sq ft
  • Excellent City Centre location equidistant to Highcross and Haymarket Shopping Centres
  • Nearby occupiers include Primark, H&M, Marks & Spencer, Caffè Nero and Boots the Chemist
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 31
  • Auction 8th December 2016
  • Rent
  • Status Sold
  • Price £590,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of LaSalle Investment Management

Property Information

Location
Miles
30 miles south of Nottingham, 45 miles north-east of Birmingham
Roads
A6, A47, A563, M1
Rail
Leicester Railway Station
Air
East Midlands Airport
Situation

The property is situated in on the eastern side of Cheapside and Market Place, close to Gallowtree Gate, Humberstone Gate and East Gates, in the heart of the City Centre. The property is in close proximity to The Highcross Shopping Centre, anchored by John Lewis, Debenhams and House of Fraser and close to Haymarket Shopping Centre. Other nearby occupiers include Primark, H&M, Marks & Spencer, Caffè Nero, Boots the Chemist, Pandora, Clarks and Superdrug.

Tenure

Virtual Freehold. Held for a term of 999 years from 24th June 2005 at a peppercorn rent.

Location
Miles
30 miles south of Nottingham, 45 miles north-east of Birmingham
Roads
A6, A47, A563, M1
Rail
Leicester Railway Station
Air
East Midlands Airport
Situation

The property is situated in on the eastern side of Cheapside and Market Place, close to Gallowtree Gate, Humberstone Gate and East Gates, in the heart of the City Centre. The property is in close proximity to The Highcross Shopping Centre, anchored by John Lewis, Debenhams and House of Fraser and close to Haymarket Shopping Centre. Other nearby occupiers include Primark, H&M, Marks & Spencer, Caffè Nero, Boots the Chemist, Pandora, Clarks and Superdrug.

Tenure

Virtual Freehold. Held for a term of 999 years from 24th June 2005 at a peppercorn rent.

Description

The property comprises a ground floor shop with ancillary accommodation at basement, first and second floors.

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 shop with ancillary accommodation at basement, first and second floors.

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. Review/(Reversion)
Ground
Basement
Part First
Part Second
Retail/Ancillary
Ancillary
Ancillary
Ancillary
197.88 sq m
55.74 sq m
104.97 sq m
106.83 sq m
(2,130 sq ft)
(600 sq ft)
(1,230 sq ft)
(1,150 sq ft)
CRAWSHAW
BUTCHERS
LIMITED (1)
10 years from 07/04/2016
on a full repairing and
insuring lease (2)
£45,000 (3) 07/04/2021
(06/04/2026)
Totals  
465.42 sq m
(5,110 sq ft)
    £45,000  

(1) Crawshaws was founded in Yorkshire in 1954 and is the UKs leading Fresh Meat & Food to Go retailer, with stores across the Midlands & North of England. They are currently undertaking a rapid expansion programme that will see the number of stores increase tenfold within 8-10 years. For the year ending 31st January 2015, Crawshaw Butchers Limited reported a turnover of £23,828,615, pre-tax profits of £1,602,505 and a total net worth of £5,791,745 (Sources: www.crawshawbutchers.com and Experian Group 20/10/2016).
(2) The lease is subject to a Schedule of Condition.
(3) The initial rent under the terms of the lease is £17,500 per annum rising to £18,750 per annum on the first anniversary of the date of the lease, rising to £40,000 per annum on the second anniversary of the date of the lease, rising to £42,500 per annum on the third anniversary of the date of the lease and rising to £45,000 per annum on the fourth anniversary of the date of the lease. The vendor has agreed to adjust the completion monies so that the property will effectively produce £45,000 per annum from completion of the sale.

Property Documents

  • Catalogue Page
    Updated Date
    29.10.19
    File Size
    373 KB
    View PDF
  • Site Plan
    Updated Date
    29.10.19
    File Size
    80 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
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Associate Auctioneers
Lewis & Partners
Matthew Clarke 020 7580 4333matthewclarke@lewisandpartners.com
Seller's Solicitors
Wallace LLP 1 Portland Place
London
W1B 1PN
+44 (0)20 7636 3736
Jackie Boot +44 (0)20 7467 8722jackie.boot@wallace.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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