5 Finkle Street
Thorne
South Yorkshire
DN8 5DE

Freehold Retail Investment

  • Let to Boots UK Limited until 2023 (no breaks)
  • Fixed 1.5% annual rental increases rising to £37,674.59 in 2022 (3)
  • 2020 break option removed (2)
  • Tenant in occupation since 1980
  • Nearby occupiers include NatWest, Ladbrokes and The Original Factory Shop
  • Lot
    11
  • Auction
    28/Mar/2018
  • Rent
    £35,496 per Annum Exclusive
  • Status
    Sold
  • Price*
    £421,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Trustees
Important Property Update
  • 5 Finkle Street<br>Thorne<br>South Yorkshire<br>DN8 5DE
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Property Information

Location
Miles
10 miles north-east of Doncaster, 28 miles north-east of Sheffield, 32 miles south-east of Leeds
Roads
M18 (Junction 6), M180 (Junction 1)
Rail
Thorne North Rail
Air
Robin Hood Doncaster/Sheffield Airport
Situation

Thorne is a commuter market town in South Yorkshire, benefitting from strong road communications via the M18 and M180 Motorways providing access to Doncaster and Sheffield. The property is situated in a prominent location on the western side of the pedestrianised Finkle Street, close to its junction with Market Place. Nearby occupiers include NatWest, Ladbrokes and The Original Factory Shop

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with first floor ancillary accommodation and benefits from a rear yard which is used for parking. The tenant operates an NHS licensed pharmacy from the unit.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReversion
Ground
First
Retail
Ancillary
181.53 sq m
117.52 sq m
(1,954 sq ft)
(1,265 sq ft)
BOOTS UK
LIMITED (1)
10 years & 3 days from
29/03/2013 on a full
repairing and insuring
lease
£35,496.41 (2)
with annual
increases (3)
31/03/2023
Total
299.05 sq m
(3,219 sq ft)
  £35,496.41 

(1) For the year ending 31st August 2016, Boots UK Limited reported a turnover of £6,876,000,000, pre-tax profits of £523,000,000 and a total net worth of £1,204,000,000 (Source: Experian Group 17/01/2018). Boots is the UK’s leading pharmacy-led health and beauty retailer with around 2,500 stores in the UK, ranging from local community pharmacies to large destination health and beauty stores. Boots UK is part of the Retail Pharmacy International Division of Walgreens Boots Alliance, Inc, the first global pharmacy-led health and wellbeing enterprise (Source: www.boots-uk.com 23/02/2018).
(2) The tenant is currently benefitting from a rent free period expiring 31/01/2019 in exchange for removing the 2020 break option. The seller has agreed to adjust the completion monies so that the unit effectively produces £35,496.41 from the completion of the sale.
(3) The lease provides for annual fixed rental increases of 1.5%. The rent will therefore increase to £36,028.86 p.a.x on 01/04/2019, £36,569.29 p.a.x on 01/04/2020, £37,117.83 on 01/04/2021 and £37,674.59 on 01/04/2022.

Property Documents

  • Site Plan
    Updated Date
    06.03.18
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    06.03.18
    File Size
    665 KB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Gwen ThomasGwen Thomas +44 (0)20 7034 4857 +44 (0)7809 363549gwen.thomas@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863georgina.roberts@acuitus.co.uk
Seller's Solicitors
Gowling WLG Two Snowhill
Birmingham
B4 6WR
Heather Manning 0121 393 0806heather.manning@gowlingwlg.com

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