Predominantly let to Power Leisure Bookmakers Limited with guarantee from Paddy Power Betfair Plc
Recently let on new 15 year lease from February 2018 (subject to options)
Town centre location opposite Clarendon Square Shopping Centre with retailers including Greggs, Superdrug and Peacocks
Adjacent to Boots the Chemist and close to Wilko and JD Wetherspoon
Lot 55
Auction 24th May 2018
Rent £26,001 per Annum Exclusive
Status Sold
Price £275,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
7 miles south-east of Manchester City Centre, 27 miles west of Sheffield
Roads
A560, M67 (Junction 3)
Rail
Hyde Central Railway Central
Air
Manchester Airport
Situation
The property occupies a prominent corner position fronting Market Place and Clarendon Street and opposite Clarendon Square Shopping Centre. Clarendon Square Shopping Centre houses retailers including Greggs, Superdrug, Peacocks and Holland & Barrett. Other nearby occupiers include Poundstretcher, JD Wetherspoon, Farmfoods, Wilko and Boots the Chemist.
Tenure
Freehold.
Location
Miles
7 miles south-east of Manchester City Centre, 27 miles west of Sheffield
Roads
A560, M67 (Junction 3)
Rail
Hyde Central Railway Central
Air
Manchester Airport
Situation
The property occupies a prominent corner position fronting Market Place and Clarendon Street and opposite Clarendon Square Shopping Centre. Clarendon Square Shopping Centre houses retailers including Greggs, Superdrug, Peacocks and Holland & Barrett. Other nearby occupiers include Poundstretcher, JD Wetherspoon, Farmfoods, Wilko and Boots the Chemist.
Tenure
Freehold.
Description
The property comprises a ground floor shop/betting office with self-contained office accommodation (let on a long lease) on the first and second floors.
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/betting office with self-contained office accommodation (let on a long lease) on the first and second floors.
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
Reviews
Ground
Betting Shop/ Ancillary
115.47 sq m
(1,243 sq ft)
POWER LEISURE BOOKMAKERS LIMITED with guarantee from Paddy Power Betfair Plc (1)
15 years from 21/02/2018 until 20/02/2033 (2)
£26,000
21/02/2023 21/02/2028
First Second
Offices/Ancillary Offices/Ancillary
- -
(-) (-)
D. NUTTALL
999 years from 25/07/1989 until 24/07/2989
£1
-
Total
115.47 sq m
(1,243 sq ft)
£26,001
(1) In 2017, Paddy Power Betfair Plc reported a total revenue of £898,000,000 and an underlying operating profit of £268,000,000 (Source: www.paddypowerbetfair.com 16/04/2018). (2) The lease is subject to tenant options to determine on 20th February 2023 and 20th February 2028.
