8, 8A & 9 Church Street Peterborough Cambridgeshire PE1 1XB

  • 8, 8A & 9 Church Street<br>Peterborough<br>Cambridgeshire<br>PE1 1XB

8, 8A & 9 Church Street
Peterborough
Cambridgeshire
PE1 1XB

Freehold Retail/Office Investment

  • Tenants include Ladbrokes Betting & Gaming Ltd
  • Minimum fixed rental increases in 2012 and 2013
  • Prominent position on prime pedestrianised retail thoroughfare
  • Nearby occupiers include Prezzo, Pizza Express, H & M, Barclays and Yorkshire Bank
  • Six Week Completion Period Available
  • Rent rising to a minimum of £62,750 p.a.x. in 2013
  • Lot
    39
  • Auction
    18th October 2011
  • Rent
    £58,750 per Annum Exclusive
  • Status
    Withdrawn Prior
  • Price
     
  • Auction Venue
    Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Rowan Asset Management
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Freehold Retail/Office Investment

  • Tenants include Ladbrokes Betting & Gaming Ltd
  • Minimum fixed rental increases in 2012 and 2013
  • Prominent position on prime pedestrianised retail thoroughfare
  • Nearby occupiers include Prezzo, Pizza Express, H & M, Barclays and Yorkshire Bank
  • Six Week Completion Period Available
  • Rent rising to a minimum of £62,750 p.a.x. in 2013
  • Lot 39
  • Auction 18th October 2011
  • Rent £58,750 per Annum Exclusive
  • Status Withdrawn Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Rowan Asset Management

Property Information

Location
Miles
41 miles east of Leicester, 41 miles north-east of Northampton, 81 miles north of London
Roads
A15, A1139, A47, A1(M) Junction 17
Rail
Peterborough Railway Station
Air
Birmingham International Airport, Luton Airport
Situation

The property is situated in a prominent city centre location on the western side of Church Street, one of Peterborough's prime pedestrianised retail thoroughfares. The property lies opposite Cathedral Square which houses St John's Church and the Guildhall with other nearby occupiers including Prezzo, Pizza Express, H & M, Barclays and Yorkshire Bank.

Tenure

Freehold.

Location
Miles
41 miles east of Leicester, 41 miles north-east of Northampton, 81 miles north of London
Roads
A15, A1139, A47, A1(M) Junction 17
Rail
Peterborough Railway Station
Air
Birmingham International Airport, Luton Airport
Situation

The property is situated in a prominent city centre location on the western side of Church Street, one of Peterborough's prime pedestrianised retail thoroughfares. The property lies opposite Cathedral Square which houses St John's Church and the Guildhall with other nearby occupiers including Prezzo, Pizza Express, H & M, Barclays and Yorkshire Bank.

Tenure

Freehold.

Description

The property comprises two ground floor retail units with self-contained office accommodation on the first floor.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises two ground floor retail units with self-contained office accommodation on the first floor.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews
8 Ground Retai

107.67 sq m

(1,159 sq ft)
LADBROKES BETTING
& GAMING LTD (1)
15 years from 25/03/2006 (2) £24,750 25/03/2016
9 Ground Retail
99.41 sq m
(1,070 sq ft)
INDIVIDUAL (t/a Fitzjohn
Estate Agent) (3)
10 years from 23/07/2009 (4) £22,000 23/07/2012 and
23/07/2013 (5)
8A First Office
88.07 sq m
(948 sq ft)
INTERACTION
RECRUITMENT LIMITED (6)
10 years from 11/11/2008
(7)
£12,000 11/11/2013
Totals    

295.15 sq m

(3,177 sq ft)
    £58,750  

(1) For the year ending 31st December 2009, Ladbrokes Betting & Gaming Limited reported a turnover of £790,369,000, pre-tax profits of £238,011,000 and a total net worth of £694,338,000. (Source: www.riskdisk.com 06/09/2011)
(2) There is a tenant only option to determine the lease on the 24th March 2016, subject to 6 months' written notice.
(3) Fitzjohn is the premier independent estate agent for Peterborough and the surrounding area (Source: www.fitzjohningle.co.uk, 06/09/2011)
(4) There is a tenant only option to determine the lease on the fifth anniversary of the term subject to 6 months' written notice.
(5) Under the terms of the lease, the rent is to increase by £2,000 at each review. The rent for Unit 9 will therefore be £24,000 from 23rd July 2012 and £26,000 from 23rd July 2013.
(6) For the year ending 31st December 2010, Interaction Recruitment plc reported a turnover of £21,819,798, pre-tax profits of £412,212 and a total net worth of £7,998,476. (Source: www.riskdisk.com 06/09/2011)
(7) There is a tenant only option to determine the lease on the 10th November 2015, subject to 6 months' written notice.

Contacts

Seller's Solicitors
Dixon Law Solicitors The Round Foundry, 8 Saw Mill Yard,, Holbeck Village, Holbeck
Leeds
LS11 5WH
Colin Dixon +44 (0)113 204 2470dixon@dixonlaw.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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