Freehold City Centre Leisure, Industrial and Car Park Investment
Majority let to Time 2 Play Limited (guaranteed by Jumpin Sussex Limited) until 2034 (no breaks)
Rear part of car park let to to Excel Parking Services Limited
Time 2 Play Ltd recently completed an extensive fit-out, at an approximate cost of £350,000
Prominent city centre gateway site situated close to Intu Shopping Centre, the Cathedral Quarter and Derby Railway Station
Substantial site area of approximately 0.85 acres (0.34 hectares)
Lot 29
Auction 11th December 2019
Rent £155,500 per Annum Exclusive
Status Sold Prior
Price
Sector Leisure
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
On behalf of an Investment Manager
Property Information
Location
Miles
15 miles west of Nottingham
28 miles north-west of Leicester
Roads
A6, A38, A52, M1 (Junction 25)
Rail
Derby Railway Station
Air
East Midlands International Airport
Situation
The property is located immediately to the east of Derby city centre, occupying a corner position on Copeland Street and Siddals Road, with frontage to the A601 Inner Ring Road. Nearby occupiers include Dulux Decorator Centre, Buzz Bingo, Mazda and Suzuki. Derby Intu Shopping Centre lies 100m to the west.
Tenure
Freehold.
Location
Miles
15 miles west of Nottingham
28 miles north-west of Leicester
Roads
A6, A38, A52, M1 (Junction 25)
Rail
Derby Railway Station
Air
East Midlands International Airport
Situation
The property is located immediately to the east of Derby city centre, occupying a corner position on Copeland Street and Siddals Road, with frontage to the A601 Inner Ring Road. Nearby occupiers include Dulux Decorator Centre, Buzz Bingo, Mazda and Suzuki. Derby Intu Shopping Centre lies 100m to the west.
Tenure
Freehold.
Description
The property comprises a former car showroom, which has recently been refurbished to provide an indoor inflatable theme park. At the rear of the site is a modern industrial building which is used by the tenant as storage. In addition, the rear part of the site is let to Excel Parking with provision for 15 car parking spaces. The property benefits from a large site area of approximately 0.85 acres (0.34 hectares).
VAT
VAT is applicable to this lot.
Note
Derby City Council have proposed the Castleward Regeneration scheme, details of which are available in the legal pack.
EPC
Band E. Available to download in legal pack at acuitus.co.uk.
Description
The property comprises a former car showroom, which has recently been refurbished to provide an indoor inflatable theme park. At the rear of the site is a modern industrial building which is used by the tenant as storage. In addition, the rear part of the site is let to Excel Parking with provision for 15 car parking spaces. The property benefits from a large site area of approximately 0.85 acres (0.34 hectares).
VAT
VAT is applicable to this lot.
Note
Derby City Council have proposed the Castleward Regeneration scheme, details of which are available in the legal pack.
EPC
Band E. Available to download in legal pack at acuitus.co.uk.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Leisure Unit
Ground Mezzanine (Landlord Specification)
Leisure Leisure
1,146 sq m 162 sq m
(12,335 sq ft) (1,743 sq ft)
TIME 2 PLAY LIMITED guaranteed by Jumpin Sussex Limited t/a Jumpin Fun (1) (2)
15 years from 07/06/2019 until 06/06/2034
£135,000
07/06/2024 and five yearly
Rear Industrial Unit
Ground
Storage
138.80 sq m
(1,494 sq ft)
TIME 2 PLAY LIMITED guaranteed by Jumpin Sussex Limited t/a Jumpin Fun (1)
Approx 15 years from 01/07/2019 until 06/06/2034
£8,000
07/06/2024 and five yearly
Rear Car Park
-
Car Parking
15 spaces
-
EXCEL PARKING SERVICES LIMITED (2)
5 years from 19/09/2018 (3)
£12,500
Total
1,446 sq m
(15,572 sq ft)
£155,500
(1) The Jumpin Fun Inflatable Theme park is a brand-new leisure experience, offering dedicated SEN, toddler and open bounce sessions. Jumpin Fun currently operates from three sites, with a new branch in Bristol due to open shortly (Source: jumpinfun.co.uk 12/11/2019). (2) We understand the tenant has entered into a tenancy at will with Excel Parking Services Limited for part of their demise. (3) The car parking let to Excel is operated as part of their adjoining car park to the south of the property. excelparkingservices.co.uk. The lease provides a landlord only rolling option to determine subject to 3 months' notice.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
Contacts
Seller's Solicitors
Hewlett Swanson Centurion House 129 Deansgate Manchester M3 3WR
