Three ground floor retail units with residential uppers (let on 125 year leases)
Prominent corner position in town centre
Close proximity to the pedestrianised prime retail pitch and The Crescent Shopping Centre
Nearby occupiers include HSBC, Thomas Cook, Boots Opticians and Clarks
Lot 46
Auction 24th May 2018
Rent £39,400 per Annum Exclusive
Status Sold
Price £357,000
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
13 miles south-west of Leicester
4 miles north-east of Nuneaton
Roads
A47, M69, A50
Rail
Hinckley Rail
Air
Birmingham International Airport
Situation
The property is located on the busy thoroughfare of Station Road, occupying a prominent position between the traditional prime retailing pitch and the new Crescent Shopping Centre and Hinckley Station. Market Place, located just to the north, is home to Hinckley's historic market occurring three times a week. The Crescent Shopping Centre to the south is home to occupiers including Cineworld, Sainsbury’s Superstore, Wildwood and TK Maxx. Other nearby occupiers include HSBC, Thomas Cook, Boots Opticians and Clarks.
Tenure
Freehold.
Location
Miles
13 miles south-west of Leicester
4 miles north-east of Nuneaton
Roads
A47, M69, A50
Rail
Hinckley Rail
Air
Birmingham International Airport
Situation
The property is located on the busy thoroughfare of Station Road, occupying a prominent position between the traditional prime retailing pitch and the new Crescent Shopping Centre and Hinckley Station. Market Place, located just to the north, is home to Hinckley's historic market occurring three times a week. The Crescent Shopping Centre to the south is home to occupiers including Cineworld, Sainsbury’s Superstore, Wildwood and TK Maxx. Other nearby occupiers include HSBC, Thomas Cook, Boots Opticians and Clarks.
Tenure
Freehold.
Description
The property comprises a substantial corner property comprising three ground floor retail units fronting Station Road, with the 8 self-contained residential flats on first and second floors accessed via a dedicated entrance on The Horsefair.
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 substantial corner property comprising three ground floor retail units fronting Station Road, with the 8 self-contained residential flats on first and second floors accessed via a dedicated entrance on The Horsefair.
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
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/(Reversions)
4A
Ground
Retail
63.08 sq m
(679 sq ft)
VAPE LEICESTER LIMITED
5 years from 18/12/2015 (1)
£12,000
(17/12/2020)
6
Ground
Retail
75.80 sq m
(816 sq ft)
HEADWAY-THE BRAIN INJURY ASSOCIATION
5 years from 21/11/2016 (2)
£14,000
(20/11/2021)
6A
Ground
Retail
107.76 sq m
(1,160 sq ft)
HOPE CLOTHING LIMITED
10 years from 15/06/2016 (3)
£13,000
15/06/2020 (14/06/2026)
Flat 1, 3,4,5,6, 7 & 8
First & Second
Residential
5 x Two Bed Flats & 2 x One Bed Flats
INDIVIDUALS
7 x 125 year leases from 01/02/2005
£350
(01/02/2130)
Flat 2
First
Residential
Two Bedroom Flat
INDIVIDUAL
125 year lease from 01/02/2005
£50
(01/02/2130)
Total Commercial Area:
246.64 sq m
(2,655 sq ft)
£39,400
(1) The lease provides an option to determine on 18/12/2018. (2) The lease provides an option to determine on 21/11/2019. (3) The lease provides an option to determine on 15/06/2021.
