Predominantly let to Blacks Outdoor Retail Limited t/a Millets (a wholly owned subsidiary of JD Sports Fashion Plc)
September 2016 and 2018 break options not exercised (tenant in occupation for at least 15 years)
First floor let to snooker club (in occupation for over 12 years)
Approximately 4,168 sq ft
Nearby occupiers include Superdrug, Boots the Chemist, WHSmith and Aldi
Prominent pitch fronting Aldi and town centre car park in the heart of Leek town centre
Lot 28
Auction 24th May 2018
Rent £37,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
10 miles north-east of Stoke-on-Trent, 28 miles north-west of Derby
Roads
A53, A523
Air
East Midlands Airport
Situation
The property occupies a prominent position on the southern side of Derby Street, opposite its junction with Market Street, in the heart of Leek town centre. Nearby occupiers include Superdrug, Boots the Chemist, WHSmith and Aldi. There is a public car park to the rear of the property providing approximately 90 spaces.
Tenure
Freehold.
Location
Miles
10 miles north-east of Stoke-on-Trent, 28 miles north-west of Derby
Roads
A53, A523
Air
East Midlands Airport
Situation
The property occupies a prominent position on the southern side of Derby Street, opposite its junction with Market Street, in the heart of Leek town centre. Nearby occupiers include Superdrug, Boots the Chemist, WHSmith and Aldi. There is a public car park to the rear of the property providing approximately 90 spaces.
Tenure
Freehold.
Description
The property comprises a ground floor shop (with an externally accessed basement not currently used), with a separately accessed snooker hall on the first floor.
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 shop (with an externally accessed basement not currently used), with a separately accessed snooker hall on the first floor.
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 Basement
Retail/Ancillary Disused (external access)
196.68 sq m -
(2,117 sq ft) (-)
BLACKS OUTDOOR RETAIL LIMITED (1) t/a Millets
10 years from 25/09/2013
£29,000
25/09/2018 (24/09/2023)
First
Snooker Hall/ Ancillary
190.54 sq m
(2,051 sq ft)
C.J. PLANT & P. ARMSTRONG t/a Breaks Snooker Club
5 years from 05/02/2016
£8,000 rising to £9,000 from 05/02/2019
(04/02/2021)
Total
387.32 sq m
(4,168 sq ft)
£37,000
(1) Blacks Outdoor Retail Limited is a wholly owned subsidiary (and part of The Outdoor Division) of JD Sports Fashion Plc. It currently trades from around 97 Millets and over 70 Blacks stores. For the year ending 28th January 2018, JD Sports Fashions Plc reported a turnover of £2,378,694,000, pre-tax profits of £238,368,000 and a total net worth of £361,348,000 (Source: www.jdplc.com, www.millets.co.uk and Experian Group 18/04/2018).
