Halfords Autocentre
Riversway Retail Park, Mariners Way
Preston
PR2 2YN

Well Located Motor Trade Investment

Let to Halfords Autocentres Limited until July 2024 (no breaks)
July 2019 break option NOT exercised
Forms part of Riversway Retail Park
Nearby occupiers include Morrisons, Homebase, McDonald's, DFS and Pets at Home

Lot
5
Auction
11/Dec/2019
Rent
£38,500 per Annum Exclusive
Status
Sold
Price*
£435,000
Sector
Motor Trade/Petrol Station
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On behalf of Morrisons

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Photos
Map

* More information on the term "price" can be found here

Property Information

Location

Miles: 1.5 miles west of Preston town centre; 15 miles south-east of Blackpool; 56 miles south-west of Leeds
Roads: A583, A59, M6 (Junction 31)
Rail: Preston
Air: Liverpool John Lennon Airport

Situation

The property is located within the established Riversway Retail Park, adjacent to a major Morrisons Superstore. Riversway is a popular retail park located 1.5 miles west of Preston city centre, adjacent to Preston Marina. The park houses occupiers including Homebase, McDonald's, DFS and Pets at Home.

Tenure

Long Leasehold. Held for a term of 125 years from completion at a peppercorn rent.

Description

The property comprises a single storey motorist centre comprising reception and workshop accommodation. The property benefits from rights to parking.

VAT

VAT is applicable to this lot.

EPC

Band B. Available in the legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground	Reception/ Workshop/ Ancillary	380.90 sq m	(4,100 sq ft)	HALFORDS AUTOCENTRES LIMITED (1)	10 years from 16/07/2014 until 15/07/2024 on a full repairing and insuring lease	£38,500	16/07/2019 (outstanding)
Total		380.90 sq m	(4,100 sq ft)			£38,500

(1) For the year ending 30th March 2018, Halfords Autocentres Limited reported a turnover of £157,871,000, pre-tax profits of £2,418,000 and a total net worth of £32,737,000 (Source: Experian 04/11/2019). Halfords has more than 300 Autocentres, and is one of the UK's leading operators in car repairs (Source: www.halfords.com 04/11/2019).

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.