Let to Molton Brown Limited on a recently renewed lease
6 year lease expiring January 2026 (subject to option)
No Arrears
Nearby retailers include Jack Wills, The White Company, Waterstones, L'Occitane, Jules, The Body Shop, Ted Baker & Hugo Boss
Lot 18
Auction 23rd September 2020
Rent £65,000 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
17 miles east of Derby
52 miles north-east of Birmingham
Roads
A52, A60, M1
Rail
Nottingham Train Station
Air
Birmingham International Airport
Situation
Nottingham, a city located in the East Midlands, is approximately 17 miles east of Derby and 52 miles north-east of Birmingham. The city benefits from excellent road links, being less than 10 miles from Junction 25 of the M1 motorway. The property is situated in a prominent corner position on Bridlesmith Gate, at its junction with Peters Gate. Nearby retailers include Jack Wills, The White Company, Waterstones, L'Occitane, Jules, The Body Shop, Ted Baker & Hugo Boss.
Tenure
Virtual Freehold. Held for a term of 999 years from completion of the sale at a peppercorn rent.
Location
Miles
17 miles east of Derby
52 miles north-east of Birmingham
Roads
A52, A60, M1
Rail
Nottingham Train Station
Air
Birmingham International Airport
Situation
Nottingham, a city located in the East Midlands, is approximately 17 miles east of Derby and 52 miles north-east of Birmingham. The city benefits from excellent road links, being less than 10 miles from Junction 25 of the M1 motorway. The property is situated in a prominent corner position on Bridlesmith Gate, at its junction with Peters Gate. Nearby retailers include Jack Wills, The White Company, Waterstones, L'Occitane, Jules, The Body Shop, Ted Baker & Hugo Boss.
Tenure
Virtual Freehold. Held for a term of 999 years from completion of the sale at a peppercorn rent.
Description
The property comprises a self contained ground floor retail unit, with ancillary accommodation in the basement. The property forms part of a larger attractive Grade II listed period building.
VAT
VAT is applicable to this lot.
Note
The adjoining property let to The Body Shop is being offered for sale as Lot 34.
Completion Period
Six Week Completion
EPC
Band D. See legal pack.
Description
The property comprises a self contained ground floor retail unit, with ancillary accommodation in the basement. The property forms part of a larger attractive Grade II listed period building.
VAT
VAT is applicable to this lot.
Note
The adjoining property let to The Body Shop is being offered for sale as Lot 34.
Completion Period
Six Week Completion
EPC
Band D. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground Basement
Retail Ancillaryy
71.81 sq m 55.65 sq m
(773 sq ft) (599 sq ft)
MOLTON BROWN LIMITED (1))
6 years from 01/02/2020(2)
£65,000 (3)
Total
127.46 sq m
(1,372 sq ft)
£65,000
(1) Molton Brown Limited (CRN 02414997) were incorporated in 1989 and are wholly owned by the Kao Corporation of Japan. Molton Brown currently operate from over 50 stores nationwide and are a global brand. (2) The lease is subject to a tenant option to determine the lease on 31/01/2024. (3) There is a side letter allowing the tenant to pay the annual rent on the first day of each month and reducing the annual rent to 32,500 during the mandatory measure imposed by the government which has the effect of preventing the tenant from using, operating or trading from the property.
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.
