Let to Post Office Limited on a recently renewed lease
Town centre location and forms part of the Cascades Shopping Centre
Nearby occupiers include McDonald’s, Argos, Superdrug and Co-operative Bank
VAT-free investment
Lot 105
Auction 18th October 2018
Rent £30,000 per Annum Exclusive
Status Sold
Price £290,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
8 miles north-east of Sheffield, 3 miles south of Leeds
Roads
A629, A630, M1 (Junction 34)
Rail
Rotherham Central Rail Station
Air
Robin Hood Airport Doncaster Sheffield, Leeds Bradford International Airport
Situation
The property is situated on Bridgegate, close to its junction with Frederick Street and Bridge Street which provides access from Rotherham rail station to the principal retailing area. The property forms part of Cascades Shopping Centre, which houses occupiers including Superdriug, Argos and Poundworld. Other nearby occupiers include McDonald’s, Wilko and Barclays Bank.
Tenure
Freehold.
Location
Miles
8 miles north-east of Sheffield, 3 miles south of Leeds
Roads
A629, A630, M1 (Junction 34)
Rail
Rotherham Central Rail Station
Air
Robin Hood Airport Doncaster Sheffield, Leeds Bradford International Airport
Situation
The property is situated on Bridgegate, close to its junction with Frederick Street and Bridge Street which provides access from Rotherham rail station to the principal retailing area. The property forms part of Cascades Shopping Centre, which houses occupiers including Superdriug, Argos and Poundworld. Other nearby occupiers include McDonald’s, Wilko and Barclays Bank.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with first floor office/ancillary accommodation. The property benefits from an ATM on site.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
D
Description
The property comprises a ground floor retail unit with first floor office/ancillary accommodation. The property benefits from an ATM on site.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
D
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground First
Retail/Ancillary Office/Ancillary
213.60 sq m 157.60 sq m
(2,299 sq ft) (1,696 sq ft)
POST OFFICE LIMITED (1)
4 years from 25/12/2017 on a full repairing and insuring lease (2)
£30,000
24/12/2021
Total
371.20 sq m
(3,995 sq ft)
£30,000
(1) For the year ending 26 March 2017, Post Office Limited reported a turnover of £1,037,000,000, pre-tax profits of £306,000,000 and a total net worth of £19,000,000 (Source: Experian Group 29/08/2018). Property trades as Post Office & Stationery by WH Smith. (2) The lease provides a tenant option to determine on 25/12/2020.
