Retail let to William Hill Organization Limited until 2026 (subject to option)
Permitted development for 3 residential flats on the first floor
Prominent Town Centre location
Nearby occupiers include Wilko, HSBC and Pizza Hut
producing £17,000 per annum exclusive (with vacant upper parts)
Lot 70
Auction 13th July 2017
Rent £17,000 per Annum Exclusive
Status Sold
Price £205,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
3 miles south-west of Mansfield, 24 miles south-east of Sheffield
Roads
A38, M1
Rail
Suttton Parkway Railway Station
Air
East Midlands Airport
Situation
The property is situated on the west side of Outram Street, close to its junction with Welbeck Street. Nearby occupiers include Wilko, HSBC and Pizza Hut.
Tenure
Freehold.
Location
Miles
3 miles south-west of Mansfield, 24 miles south-east of Sheffield
Roads
A38, M1
Rail
Suttton Parkway Railway Station
Air
East Midlands Airport
Situation
The property is situated on the west side of Outram Street, close to its junction with Welbeck Street. Nearby occupiers include Wilko, HSBC and Pizza Hut.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation with self-contained former office accommodation on the first floor which is separately accessed off Outram Street. The property benefits from a second frontage to the rear of the property, with a customer entrance from the public car park. The property benefits from permitted development rights to convert the first floor into 2 x one bedroom residential flats and a 1 x two bedroom residential flat. A letter from the Local Authority is available in the legal pack.
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 ground floor retail accommodation with self-contained former office accommodation on the first floor which is separately accessed off Outram Street. The property benefits from a second frontage to the rear of the property, with a customer entrance from the public car park. The property benefits from permitted development rights to convert the first floor into 2 x one bedroom residential flats and a 1 x two bedroom residential flat. A letter from the Local Authority is available in the legal pack.
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
Retail
155.09 sq m
(1,669 sq ft)
WILLIAM HILL ORGANIZATION LIMITED (1)
20 years from 30/06/2006 (2)
£17,000
30/06/2021 (29/06/2026)
First
Former Office
138.10 sq m
(1,487 sq ft)
VACANT POSSESSION
Total
293.19 sq m
(3,156 sq ft)
£17,000
(1) William Hill is the UK’s number one provider of licensed betting offices with 2,372 licensed betting shops in the UK and employ more than 16,000 people in nine countries (Source: www.williamhillplc.com 14/06/2017). For the year ending 29th December 2015, William Hill Organization Limited reported a turnover of £873,900,000, pre-tax profits of £246,400,000 and a total net worth of negative -625,000,000 (Source: Experian Group 14/06/2017). (2) The lease provides for a tenant option to determine the lease on 29/06/2021.