18 / 20 High Street
Oakham
Leicestershire
LE15 6AL

Freehold Retail Investment

  • Let to Boots UK Limited until 2025 (no breaks) (2)
  • New reversionary lease signed in 2019
  • Located in heart of affluent county town
  • Nearby occupiers include Caffe Nero, Barclays and McColl's
  • Lot
    3
  • Auction
    12/Feb/2020
  • Rent
    £66,574 per Annum Exclusive
  • Status
    Available
  • Price*
    £950,000
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
  • On behalf of Trustees
Important Auction & Property Update
  • 18 / 20 High Street<br>Oakham<br>Leicestershire<br>LE15 6AL
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
9 miles south-east of Melton Mowbray
24 miles east of Leicester
Roads
A47, A606, A3003
Rail
Oakham Railway Station
Air
East Midlands Airport
Situation

Oakham is an affluent county town located in the East Midlands, approximately 20 miles east of Leicester. The property is prominently situated on the south side of High Street, close to its junction with Market Street and Market Place, in the heart of Oakham town centre. Nearby occupiers include Caffe Nero, Barclays, McColl's and Carphone Warehouse.

Tenure

Freehold.

Description

The property comprises a double fronted ground floor retail unit with first floor ancillary accommodation. Boots also occupies the adjacent property (22 High Street), which does not form part of the sale.

VAT

VAT is applicable to this lot.

EPC

Band E. Available at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReversion
Ground
First
Retail
Ancillary
338.82 sq m
26.29 sq m
(3,647 sq ft)
(283 sq ft)
BOOTS UK
LIMITED (1)
20 years and 4 months
from 22/03/2005 until
21/07/2025 on a full
repairing and insuring
lease (2)
£66,57421/07/2025
Total
365.11 sq m
(3,930 sq ft)
  £66,574 

(1) For the year ending 31st August 2018, Boots UK Limited reported a turnover of £6,790,000,000, pre-tax profits of £398,000,000 and a total net worth of £875,000,000 (Source: Experian Group 14/01/2020). Boots is the largest pharmacy health and beauty chain in the UK and as at 31st August 2018 had 2,485 stores across the UK
(Source: www.boots-uk.com/about-boots-uk/about-boots/boots-in-numbers/ 14/01/2020).
(2) The current lease is for a term of 15 years and four months expiring 21/07/2020, however a 5 year reversionary lease has been signed from expiry of the current term until 21/07/2025 at a rent of £66,574 p.a.x.
(3) For the purpose of clarification, the current passing rent is £65,590.30 p.a.x. The current lease provides a fixed rental increase to £66,574 p.a.x from 1st April 2020. At the commencement of the reversionary lease on 21/07/2020, the rent will be £66,574 p.a.x and the tenant will benefit from a nine month rent free period. The seller has agreed to adjust the completion monies so the sale will effectively produce £66,574 p.a.x. from the completion of sale.

If you are the successful bidder Acuitus requires a separate payment of £500 plus VAT (£600 inclusive of VAT) buyer's administration charge payable to Acuitus Limited

Property Documents

  • Solicitors Legal Pack
    Updated Date
    06.02.20
    File Size
    13 MB
    Login to View
  • Catalogue Page
    Updated Date
    22.01.20
    File Size
    668 KB
    View PDF
  • Site Plan
    Updated Date
    22.01.20
    File Size
    672 KB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863 +44 (0)7899 877 224georgina.roberts@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Gowling WLG Two Snowhill
Birmingham
B4 6WR
Heather Manning 0121 393 0806heather.manning@gowlingwlg.com  Mohammed Islam 0121 393 0648Mohammed.Islam@gowlingwlg.com

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now