8 Park Avenue
Barnoldswick
Lancashire
BB18 5AT

Freehold Dental Surgery Investment

  • Let to Whitecross Dental Care Limited with a guarantee from Integrated Dental Holdings Limited
  • 15 year lease renewal from 22nd July 2021 (subject to options)
  • 12 month rental break penalty at year 5 if break option exercised
  • Re-based rent
  • Rent rising to £14,708.31 pa in July 2026 and rising to £16,641.10 pa in July 2031
  • VAT-free Dental Surgery Investment
  • Lot
    32
  • Auction
    24/Sep/2021
  • Rent
    £13,000 per Annum Exclusive
  • Status
    Sold Prior
  • Price*
     
  • Sector
    Medical/Healthcare
  • Auction Venue
    Live Streamed Auction
Important Update
  • 8 Park Avenue, Barnoldswick, Lancashire, BB18 5AT
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
29 miles north-west of Leeds
30 miles north of Manchester
Roads
B6383, A56, M65
Air
Manchester Airport
Situation

Barnoldswick is a market town in Lancashire approximately 29 miles north-west of Leeds and 30 miles north of Manchester. The property is situated in a predominantly residential area on the south side of Park Avenue, at it's junction with York Street and approximately 300 metres from the town centre.

Tenure

Freehold.

Description

The property comprises a Dental Surgery arranged on the ground, first and second floors.

VAT

VAT is not applicable to this lot.

Note

Please note the buyer will pay 1.5% plus VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

Six Week Completion

EPC

Band E. See legal pack.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.x
Ground
First
Second
Dental Surgery
Ancillary
Ancillary
37.78 sq m
32.52 sq m
27.83 sq m
(407 sq ft)
(350 sq ft)
(299 sq ft)
WHITECROSS DENTAL
CARE LIMITED with a
guarantee from
INTEGRATED DENTAL
HOLDINGS LIMITED (2)
15 years from
22/07/2021 until
21/07/2036 (3) on a full
repairing and insuring
lease (4)
£13,000 rising to
£14,708.31 in July
2026 rising to
£16,641.10 in July
2031
Total
98.13 sq m
(1,056 sq ft)
(1)
  £13,000 (with
fixed rental uplifts
every 5 years)

(1) Floor areas provided by the Valuation Office Agency (www.gov.uk).
(2) For the year ending 31st March 2019, Whitecross Dental Care limited reported a turnover of £166,771,000, a pre-tax profit of negative £56,039,000 and shareholder funds of £5,341,000. Integrated Dental Holdings Limited did not report a turnover or pre-tax profit, but reported a total net worth of £18,263,000 (Source: NorthRow 27/07/2021).
(3) The lease provides for a tenant option to determine the lease on 22/07/2026 and 22/07/2031. The tenant has agreed a 12 month rental break penalty if they exercise the option at the expiry of the 5th year.
(4) The lease is full repairing & insuring, subject to a Schedule of Condition.

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
    03.09.21
    File Size
    750 KB
    View PDF
  • Site Plan
    Updated Date
    03.09.21
    File Size
    622 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854 +44 (0)7824 705 955billy.struth@acuitus.co.uk
Seller's Solicitors
Structadene Group 9 White Lion Street
London
N1 9PD
James Thomson 0207 843 9196james.t@pearl-coutts.co.uk

Useful Links

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