Units 4, 6, 8 & 10/12 Upper Market Square Hanley Stoke-on-Trent ST1 1NS

Units 4, 6, 8 & 10/12 Upper Market Square
Hanley
Stoke-on-Trent
ST1 1NS

Freehold Retail Parade Investment

Four Retail Units in High Street Location
Tenants trading as EE, Holland & Barrett, Sharps Bedrooms and Max Spielmann
Opposite Boots and Marks & Spencer
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
16
Auction
16th February 2017
Rent
£197,000 per Annum Exclusive
Status
Sold
Price
£1,515,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Joint LPA Receivers

Important Update

Expand
Photos
Map

Freehold Retail Parade Investment

Four Retail Units in High Street Location
Tenants trading as EE, Holland & Barrett, Sharps Bedrooms and Max Spielmann
Opposite Boots and Marks & Spencer
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 16
Auction 16th February 2017
Rent £197,000 per Annum Exclusive
Status Sold
Price £1,515,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Joint LPA Receivers

Property Information

Location

Miles: 4 miles east of Newcastle Under Lyme, 35 miles south of Manchester, 43 miles north of Birmingham
Roads: A50, A52, A53, A500, M6
Rail: Stoke On Trent Rail
Air: Birmingham International Airport

Situation

Hanley is Stoke-on-Trent’s main shopping centre. The property is located in a prominent position in Hanley town centre on the eastern side of the pedestrianized Upper Market Square, at its junction with Parliament Row and Tontine Square. The property is situated opposite Boots and Marks & Spencer and in close proximity to Intu Potteries Shopping Centre. Other nearby occupiers include Greggs, Halifax Bank, Co-operative Bank and Costa Coffee.

Tenure

Freehold.

Location

Miles: 4 miles east of Newcastle Under Lyme, 35 miles south of Manchester, 43 miles north of Birmingham
Roads: A50, A52, A53, A500, M6
Rail: Stoke On Trent Rail
Air: Birmingham International Airport

Situation

Tenure

Freehold.

Description

The property comprises four three storey units providing retail and ancillary accommodation.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises four three storey units providing retail and ancillary accommodation.

VAT

VAT is applicable to this lot.

Note

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
4	Ground First Second	Retail/Ancillary Ancillary Ancillary	29.46 sq m 26.20 sq m 22.51 sq m	(317 sq ft) (282 sq ft) (242 sq ft)	MAX SPIELMANN LTD (1)	10 years from 25/12/2014 (2)	£21,500	25/12/2019 (24/12/2024)
6	Ground First Second	Retail/Ancillary Ancillary Ancillary	56.90 sq m 60.90 sq m 37.90 sq m	(612 sq ft) (656 sq ft) (408 sq ft)	T-MOBILE (UK) RETAIL LTD (t/a EE) (3)	Approx 15 years 2 months from 02/02/2004	£65,000	(24/03/2019)
8	Ground First Second	Retail/Ancillary Ancillary Ancillary	80.17 sq m 61.20 sq m 33.10 sq m	(863 sq ft) (659 sq ft) (356 sq ft)	HOLLAND & BARRETT RETAIL LTD (4)	10 years from 29/09/2011	£80,500	29/09/2016 (5) (28/09/2021)
10/12	Ground Basement First	Retail/Ancillary Ancillary Ancillary	97.40 sq m 83.50 sq m 47.00 sq m	(1,048 sq ft) (899 sq ft) (506 sq ft)	SHARPS BEDROOMS LTD (6)	5 years from 17/08/2016	£30,000	(16/08/2021)
Total			636.24 sq m	(6,848 sq ft)			£197,000

(1) Max Spielmann are the UKs most experienced photo printing specialists and part of the Timpson group of companies (Source: www.maxphoto.co.uk 16/01/2017) For the year ending 26th September 2015, Max Spielmann Ltd reported a turnover of £15,486,000, pre-tax profits of £1,324,000 and a total net worth of £8,275,000 (Source: Experian Group 16/01/2017)
(2) The lease of Unit 4 provides a tenant only option to determine on 25/12/2019
(3) EE, part of the BT Group, is the largest and most advanced digital communications company in Britain, delivering mobile and fixed communications services. EE has approximately 553 retail stores, and services more than 31 million connections across its mobile, fixed and wholesale networks (Source: www.ee.co.uk 16/01/2017). The registered leasehold title is currently in the name of T-Mobile.
(UK) Limited, being the original guarantor to the lease, but no documents have been seen in relation to such assignment.
(4) Holland & Barrett is the UK's leading retailer of vitamins, minerals and herbal supplements with over 620 outlets. (Source: www.hollandandbarrett.com 16/01/2017). For the year ending 30th September 2015, Holland & Barrett Retail Ltd reported a turnover of £424,662,000, pre-tax profits of £129,456,000 and a total net worth of £326,224,000 (Source: Experian Group 16/01/2017)
(5) The 2016 rent review is outstanding.
(6) Sharps Bedrooms are the UK's leading fitted bedroom furniture & home office specialist trading from 90 bedroom furniture showrooms throughout the UK (Source: www.sharps.co.uk 16/01/2017)