2 - 6 Effingham Street Rotherham South Yorkshire S65 1BL

2 - 6 Effingham Street
Rotherham
South Yorkshire
S65 1BL

Prime Freehold Retail Parade Investment

Prominent retail parade let to tenants including Greggs, Timpson and Harvey & Thompson
Potential to convert self-contained vacant second floor to residential (subject to planning and consents)
Prime trading position in pedestrianised town centre location
Nearby occupiers include B&M Bargains and Specsavers

Lot
27
Auction
23rd May 2019
Rent
£110,500 per Annum Exclusive
Status
Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

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Prime Freehold Retail Parade Investment

Prominent retail parade let to tenants including Greggs, Timpson and Harvey & Thompson
Potential to convert self-contained vacant second floor to residential (subject to planning and consents)
Prime trading position in pedestrianised town centre location
Nearby occupiers include B&M Bargains and Specsavers

Lot 27
Auction 23rd May 2019
Rent £110,500 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

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 within a conservation area on the corner of the pedestrianised Effingham Street at its junction with College Street, close to the eastern corner of All Saints Square, within Rotherham's prime retailing area. Nearby occupiers include B&M Bargains, Specsavers and O2, along with branches of Nationwide Building Society 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

Tenure

Freehold.

Description

The property, a Grade II listed building, comprises four ground floor retail units with first floor ancillary accommodation. The second floor comprises self-contained office accommodation which is accessed via a dedicated entrance on Effingham Street.

VAT

VAT is applicable to this lot.

EPC

Available from the legal pack at acuitus.co.uk.

Description

VAT

VAT is applicable to this lot.

EPC

Available from the legal pack at acuitus.co.uk.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review (Reversion)
Unit 2	Ground First	Retail Ancillary	115.02 sq m 104.84 sq m	(1,238 sq ft) (1,128 sq ft)	HARVEY & THOMPSON LIMITED (1)	15 years from 13/12/2010 (2)	£35,000	(12/12/2025)
Unit 3	Ground First	Retail Ancillary	17.21 sq m 8.96 sq m	(185 sq ft) (96 sq ft)	TIMPSON LIMITED (3)	10 years from 01/11/2015 (4)	£10,000	01/11/2020 (31/10/2025)
Unit 4	Ground First	Retail Ancillary	49.03 sq m 49.50 sq m	(528 sq ft) (533 sq ft)	CASH SHOP LIMITED	10 years from 05/11/2012	£27,500	(04/11/2022)
Unit 5	Ground First	Retail Ancillary	82.11 sq m 43.83 sq m	(884 sq ft) (472 sq ft)	GREGGS PLC (5)	10 years from 25/03/2010	£38,000	25/03/2015 (24/03/2020)
2nd Floor, 2-6 Effingham Street	Second Floor	Office	273.60 sq m (6)	(2,945 sq ft) (6)	VACANT POSSESSION
Total Commercial Area			744.10 sq m	(8,009 sq ft)			£110,500

(1) For the year ending 31 December 2017, Harvey & Thompson Limited reported a turnover of £110,333,000, pre-tax profits of £14,237,000 and a total net worth of £95,422,000 (Source: Experian Group 09/04/2019).
(2) In 2018, a reversionary lease for a term of five years expiring on 12/12/2025 was entered into. The tenant was granted an 11 month rent free period pursuant to a deed of variation which is due to expire on 10/09/2019. The seller has agreed to adjust the completion monies so that the unit will effectively produce £35,000 from the completion of sale.
(3) For the year ending 29 September 2018, Timpson Limited reported a turnover of £164,229,000, pre-tax profits of £5,718,000 and a total net worth of £54,227,000 (Source: Experian Group 09/04/2019).
(4) The lease provides a tenant option to determine on 31/10/2020.
(5) For the year ending 30 December 2017, Greggs Plc reported a turnover of £960,005,000, pre-tax profits of £71,945,000 and a total net worth of £284,626,000 (Source: Experian Group 09/04/2019)
(6) Please note the areas stated have been taken from the VOA at www.gov.uk.