Neighbouring occupiers include B&M, Aldi, Poundstretcher, McDonald's, KFC and Greggs
Lot 5
Auction 26th March 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Status Withdrawn Post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
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.
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
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review (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
£118,920
28/02/2025 (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 £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
