36 & 36A High Street Grantham Lincolnshire NG31 6PH

36 & 36A High Street
Grantham
Lincolnshire
NG31 6PH

Freehold Retail Investment

Let to tenants trading as Thomson and Ladbrokes
Thomson in occupation since at least 1990 and Ladbrokes in occupation since at least 2000
Prominent position in historic market town
Close to the Isaac Newton and The George Shopping Centres
Nearby occupiers include WH Smith, Boots the Chemist, Vision Express, Costa, Prezzo and Morrisons Supermarket
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
3
Auction
16th February 2017
Rent
£40,100 per Annum Exclusive
Status
Sold
Price
£425,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Insolvency Practitioners at Deloitte

Important Update

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Freehold Retail Investment

Let to tenants trading as Thomson and Ladbrokes
Thomson in occupation since at least 1990 and Ladbrokes in occupation since at least 2000
Prominent position in historic market town
Close to the Isaac Newton and The George Shopping Centres
Nearby occupiers include WH Smith, Boots the Chemist, Vision Express, Costa, Prezzo and Morrisons Supermarket
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 3
Auction 16th February 2017
Rent £40,100 per Annum Exclusive
Status Sold
Price £425,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Insolvency Practitioners at Deloitte

Property Information

Location

Miles: 25 miles east of Nottingham, 33 miles north-east of Leicester, 36 miles north of Peterborough
Roads: A1, A52, M1
Rail: Grantham Railway Station (approx. 60 mins to London King’s Cross)
Air: East Midlands Airport

Situation

The property is prominently situated in the heart of the town centre on the east side of the High Street equidistant between The George Shopping Centre and the Isaac Newton Shopping Centre, anchored by Morrisons Supermarket. Other nearby occupiers include WH Smith, Boots the Chemist, Vision Express, Costa and Prezzo.

Tenure

Freehold.

Location

Miles: 25 miles east of Nottingham, 33 miles north-east of Leicester, 36 miles north of Peterborough
Roads: A1, A52, M1
Rail: Grantham Railway Station (approx. 60 mins to London King’s Cross)
Air: East Midlands Airport

Situation

Tenure

Freehold.

Description

The property comprises two ground floor retail units with ancillary accommodation on the first floor. There is no current access to the first floor of 36A High Street.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting 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 two ground floor retail units with ancillary accommodation on the first floor. There is no current access to the first floor of 36A High Street.

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)
36	Ground First	Retail/Ancillary Ancillary	80.62 sq m 57.10 sq m	(868 sq ft) (615 sq ft)	TUI UK RETAIL LIMITED (1) (t/a Thomson)	5 year lease renewal from 30/11/2016 (2)	£16,200	(29/11/2021)
36A	Ground First	Retail/Ancillary Ancillary	92.08 sq m No Access	(991 sq ft)	LADBROKES BETTING AND GAMING LIMITED (3)	15 years from 25/03/2010	£23,900	25/03/2020 (24/03/2025)
Totals			229.80 sq m	(2,474 sq ft)			£40,100

(1) For the year ending 30th September 2015, TUI UK Retail Limited reported a turnover of £199,000,000, pre-tax profits of £8,000,000 and a total net worth of £8,000,000 (Source: Experian Group 16/01/2017).
(2) The lease is subject to a tenant option to determine on 29th November 2019.
(3) For the year ending 31st December 2015, Ladbrokes Betting and Gaming Limited reported a turnover of £830,679,000, pre-tax profits of £49,866,000 and a total net worth of £1,191,903,000 (Source: Experian Group 16/01/2017).