Iceland
Alfreton Estate, Nottingham Road, Somercotes
Alfreton
Derbyshire
DE55 4JJ

Virtual Freehold Supermarket Investment

  • Let to Iceland Foods Ltd until 2030 (no breaks)
  • Site area 0.32 hectares (0.78 acres)
  • Rent rising to £134,547 p.a.x. in 2025
  • Neighbouring occupiers include B&M, Aldi, Poundstretcher, McDonald's, KFC and Greggs
  • Lot
    5
  • Auction
    26/Mar/2020
  • Rent
    £118,920 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    Supermarket
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
  • Iceland<br>Alfreton Estate, Nottingham Road, Somercotes<br>Alfreton<br>Derbyshire<br>DE55 4JJ
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* More information on the term "price" can be found here

Property Information

Location
Miles
15 miles north-west of Nottingham
20 miles south of Sheffield
Roads
A61, A38, M1 (Junction 28)
Rail
Alfreton Railway Station
Air
East Midlands Airport
Situation

The property is prominently located approximately 1 mile south of Alfreton town centre, on the west side of Nottingham Road (B600) in the well established Alfreton Trading Estate. Neighbouring occupiers include B&M, Aldi, Poundstretcher, McDonald's, KFC and Greggs.

Tenure

Virtual Freehold. Held for 999 years from 04/01/1993 at a fixed peppercorn rent.

Description

The property is a supermarket comprising ground floor retail accommodation and first floor ancillary accommodation. The property benefits from a loading area with a roller shutter door and parking for approximately 35 cars.

VAT

VAT is applicable to this lot.

Completion Period

Eight Week Completion

EPC

Band C. See legal pack at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
(Reversion)
Ground
First
Retail
Ancillary
668.15 sq m
93.30 sq m
(7,192 sq ft)
(1,004 sq ft)
ICELAND
FOODS LTD (1)
25 years from
28/02/2005 on a full
repairing and
insuring lease
£118,92028/02/2025
(2)
(27/02/2030)
Total
761.45 sq m
(8,196 sq ft)
  £118,920 

(1) For the year ending 29th March 2019, Iceland Foods Ltd reported a turnover of £3,022,800,000, pre-tax profits of £31,200,000 and a total net worth of £792,900,000 (Source: Experian Group 21/03/2020).
(2) The lease provides for rent reviews every fifth year of the term with fixed increases of 2.5% per annum compounded. The rent will increase to £134,547 per annum in 2025.

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.

Property Documents

  • Catalogue Page
    Updated Date
    04.03.20
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    04.03.20
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    20.05.20
    File Size
    694 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Peter CunliffePeter Cunliffe +44 (0)20 7034 4852 +44 (0)7836 742834peter.cunliffe@acuitus.co.uk
Seller's Solicitors
Bower & Bailey Anchor House , 269 Banbury Road, Summertown
Oxford
OX2 7JF
Andrew Symington 01865 311 133asymington@bowerandbailey.co.uk

Useful Links

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