21 St Peters Gate
Nottingham
Nottinghamshire
NG1 2JF

Virtual Freehold Retail Investment

  • 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
    23/Sep/2020
  • Rent
    £65,000 per Annum Exclusive
  • Status
    Sold Prior
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Auction & Property Update
  • 21 St Peters Gate<br>Nottingham<br>Nottinghamshire<br>NG1 2JF
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* More information on the term "price" can be found here

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.

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

FloorUseFloor Areas
(Approx)
TenantTermRent 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 £1,000 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

  • Solicitors Legal Pack
    Updated Date
    14.09.20
    File Size
    25 MB
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  • Catalogue Page
    Updated Date
    02.09.20
    File Size
    791 KB
    View PDF
  • Site Plan
    Updated Date
    02.09.20
    File Size
    907 KB
    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
    15.09.20
    File Size
    57 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
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Progeny Law and Tax Limited. Progeny, 1A Tower Square
Leeds
LS1 4DL
Julie Evans 0113 4682448 Julie.Evans@theprogenygroup.com

Useful Links

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