10 Portland Walk Barrow-In-Furness Cumbria LA14 1DB

10 Portland Walk
Barrow-In-Furness
Cumbria
LA14 1DB

Freehold Retail Investment

  • Let to Top Shop/Top Man Properties Limited t/a Topshop on a new 5 year lease (subject to option)
  • Forms part of Portland Walk Shopping Centre
  • Nearby occupiers include Debenhams, Boots, New Look, JD Sports and Clarks
  • Lot
    90
  • Auction
    19th October 2017
  • Rent
    £40,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £392,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of a Major Fund Manager
  • Expand
  • Photos
  • Map

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

Freehold Retail Investment

  • Let to Top Shop/Top Man Properties Limited t/a Topshop on a new 5 year lease (subject to option)
  • Forms part of Portland Walk Shopping Centre
  • Nearby occupiers include Debenhams, Boots, New Look, JD Sports and Clarks
  • Lot 90
  • Auction 19th October 2017
  • Rent
  • Status Sold
  • Price £392,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of a Major Fund Manager

Property Information

Location
Miles
67 miles north of Preston, 71 miles south of Carlisle, 97 miles north-west of Leeds
Roads
A590, A595, M6 (Junction 36)
Rail
Barrow-in-Furness Railway Station
Air
Manchester Airport
Situation

Barrow-in-Furness is a large port town in west Cumbria and is a key commercial hub in the North West outside of the major cities. The property is located within the heart of the town centre, occupying a prominent corner position in Portland Walk Shopping Centre. The centre is home to occupiers including Debenhams, Boots, New Look, JD Sports and Clarks. Other nearby occupiers include The Forum Theatre and Barrow Market Hall, which hosts a market four days a week.

Tenure

Freehold.

Location
Miles
67 miles north of Preston, 71 miles south of Carlisle, 97 miles north-west of Leeds
Roads
A590, A595, M6 (Junction 36)
Rail
Barrow-in-Furness Railway Station
Air
Manchester Airport
Situation

Barrow-in-Furness is a large port town in west Cumbria and is a key commercial hub in the North West outside of the major cities. The property is located within the heart of the town centre, occupying a prominent corner position in Portland Walk Shopping Centre. The centre is home to occupiers including Debenhams, Boots, New Look, JD Sports and Clarks. Other nearby occupiers include The Forum Theatre and Barrow Market Hall, which hosts a market four days a week.

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with first floor ancillary accommodation.

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 first floor ancillary accommodation.

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 Reversion
Ground
First
Retail
Ancillary
257.5 sq m
230.3 sq m
(2,771 sq ft)
(2,478 sq ft)
TOP SHOP/TOP
MAN PROPERTIES
LIMITED
guaranteed by
Redcastle Limited
t/a Topshop (1)
5 years from 01/06/2017
on a full repairing and
insuring lease (2)
£40,000 31/05/2022
Total
487.8 sq m
(5,250 sq ft)
    £40,000  

(1) Topshop & Topman form part of the Arcadia Group and have over 300 UK stores and more than 130 around the world (Source: topshop.com 22/09/2017).
(2) The tenant is currently benefitting from a rent free period due to expire on 01/12/2017. The seller has agreed to adjust the completion monies so the unit will effectively produce £40,000 from the completion of sale. The lease provides an option to determine on 01/06/2020, if this option is not exercised the tenant will benefit from 3 months rent free.

Property Documents

  • Catalogue Page
    Updated Date
    27.09.17
    File Size
    1,023 KB
    View PDF
  • Site Plan
    Updated Date
    27.09.17
    File Size
    2 MB
    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

Seller's Solicitors
Cameron McKenna Nabarro Olswang LLP 1 South Quay Victoria Quays
Sheffield
S2 5SY
Kate Johnson 0114 279 4058Kate.Johnson@cms-cmno.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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