Let to Heron Foods Limited until 2030 (subject to option)
5 yearly rent reviews linked to Retail Price Index (RPI)
Includes car parking
Lot 109
Auction 18th October 2018
Rent
Status Sold
Price £495,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
12 miles east of Nottingham, 35 miles north-east of Birmingham, 25 miles north-west of Leicester
Roads
A52, A38 M1
Rail
Derby Midland Railway Station
Air
East Midlands Airport
Situation
The property is situated in Chaddesden, a residential suburb less than 2 miles north-east of Derby city centre. The property lies on the east side of the busy Wiltshire Road. Neighbouring occupiers include Corals, Nisa Extra and Bargain Booze.
Tenure
Freehold.
Location
Miles
12 miles east of Nottingham, 35 miles north-east of Birmingham, 25 miles north-west of Leicester
Roads
A52, A38 M1
Rail
Derby Midland Railway Station
Air
East Midlands Airport
Situation
The property is situated in Chaddesden, a residential suburb less than 2 miles north-east of Derby city centre. The property lies on the east side of the busy Wiltshire Road. Neighbouring occupiers include Corals, Nisa Extra and Bargain Booze.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit within a larger block and benefits from car parking to the front of the property. The property was formerly the Blue Boy Hotel and also comprises two other ground floor retail units and three residential flats on the first floor, all of which have been sold on long leases.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit within a larger block and benefits from car parking to the front of the property. The property was formerly the Blue Boy Hotel and also comprises two other ground floor retail units and three residential flats on the first floor, all of which have been sold on long leases.
VAT
VAT is applicable to this lot.
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/ (Reversion)
Ground
Retail
381.30 sq m
(4,104 sq ft)
HERON FOODS LIMITED (1)
15 years from 9th January 2015 until 2030 (2)
£45,000
09/01/2020 and 09/01/2025. Reviews linked to Retail Price Index.
Ground First
2 x retail units 3 x flats
Not Measured
VARIOUS
5 individual 999 year leases
£750 (3)
Total
381.30 sq m
(4,104 sq ft)
£45,750
(1) Heron Foods Limited was incorporated in 1978 and currently operates from 250 outlets nationwide. For the year ending 31st December 2016 Heron Foods Limited reported a turnover of £274,440,000, pre-tax profits of £8,727,000 and a total net worth of £34,544,000 (Source: Experian 21/9/2018). (2) The lease provides for a tenant option to determine the lease on 8th January 2025 subject to 6 months’ notice. (3) The rent reserved under the terms of each 999 year lease is £150 per annum exclusive.