77-79 Main Street Bulwell, Near Nottingham Nottinghamshire NG6 8QD

77-79 Main Street
Bulwell, Near Nottingham
Nottinghamshire
NG6 8QD

Freehold Supermarket and Retail Investment

Let to Heron Foods, Card Factory and Merkur Slots
All shops let or renewed on recent completed leases from October 2020 and March & April 2021
Comprises 1,218.32 sq m (13,124 sq ft), with large site to the rear
Nearby retailers include Boots the Chemist, B&M, Poundland, Wilko and Iceland Foods
High Yielding on Guide Price

Lot
30
Auction
13th December 2021
Rent
£109,000 per Annum Exclusive
Status
Sold
Price
£1,210,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Important Update

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Freehold Supermarket and Retail Investment

Let to Heron Foods, Card Factory and Merkur Slots
All shops let or renewed on recent completed leases from October 2020 and March & April 2021
Comprises 1,218.32 sq m (13,124 sq ft), with large site to the rear
Nearby retailers include Boots the Chemist, B&M, Poundland, Wilko and Iceland Foods
High Yielding on Guide Price

Lot 30
Auction 13th December 2021
Rent £109,000 per Annum Exclusive
Status Sold
Price £1,210,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 4 miles north-west of Nottingham City Centre; 19 miles north of Loughborough
Roads: A610, A6514, M1
Rail: Bulwell
Air: East Midlands Airport

Situation

Bulwell is a market town approximately 4 miles north-west of Nottingham and 19 miles north of Loughborough. The property is located in a prominent position on the west side of Main Street, close to it's junction with the pedestrianised Holborn Place, approximately 200m from Bulwell Train Station. Nearby retailers include Boots the Chemist, B&M, Poundland, Wilko and Iceland Foods.

Tenure

Freehold.

Location

Miles: 4 miles north-west of Nottingham City Centre; 19 miles north of Loughborough
Roads: A610, A6514, M1
Rail: Bulwell
Air: East Midlands Airport

Situation

Tenure

Freehold.

Description

The property comprises a quadruple fronted building (arranged as three shops) on the ground & first floors. The property includes a large site to the rear of the property, used for parking & servicing.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Various. See legal pack at www.acuitus.co.uk.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Various. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

Unit No.	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
79a Main Street	Ground First	Retail Ancillary	137.25 sq m 125.67 sq m	(1,477 sq ft) (1,353 sq ft)	SPORTSWIFT LIMITED (1) (t/a Card Factory)	5 years from 17/10/2020 until 16/10/2025	£31,500 (2)	-
79b Main Street	Ground First	Retail Ancillary	129.15 sq m 128.07 sq m	(1,390 sq ft) (1,388 sq ft)	MERKUR SLOTS UK LIMITED (3) (t/a Merkur Slots)	15 years from 01/03/2021 until 29/02/2036 (4)	£30,000 (4)	01/03/2026 & 5 yearly thereafter
77a & 77b Main Street	Ground First	Retail Ancillary	369.24 sq m 328.93 sq m	(3,975 sq ft) (3,541 sq ft)	HERON FOODS LIMITED (5) (t/a Heron Foods)	5 years from 04/04/2021 until 03/04/2026	£47,500 (6)	-
Total			1,218.32 sq m	(13,124 sq ft)			£109,000

(1) For the year ending 31/01/2021 Sportswift Limited reported a turnover of £265,024,000, pre tax profits of £-10,866,000 and total shareholders equity of £42,722,000 (NorthRow 08/11/2021). Card Factory was founded in 1997 and now operates from over 1,000 stores in both the UK and Ireland, with new stores opening very year (www.cardfactory.co.uk).
(2) The tenant is paying half rent until 02/06/2022, after which the rent will rise to £31,500 pa. The Seller has agreed to make an allowance from completion of the sale until the expiry of the concessionary rental period-please see Special Conditions of Sale.
(3) The MERKUR Casino UK group operates a number of venues throughout the UK with over 180 Adult Gaming Centres under the MERKUR Slots and MERKUR Cashino brands, 3 Family Entertainment Centres, 3 Bingo clubs and 24 tanning salons (www.merkurcasinouk.com/about).
(4) The lease is subject to a tenant option to determine on 28/02/2026 and 28/02/2031. The tenant is paying a peppercorn rent until 14/01/2022, after which the rent will rise to £30,000 pa. The Seller has agreed to make an allowance from completion of the sale until the expiry of the concessionary rental period-please see Special Conditions of Sale.
(5) For the year ending 27/03/2021, Heron Foods Limited reported a turnover of £434,592,000, pre-tax profits of £11,863,000 and total shareholders equity of £64,886,000 (NorthRow 08/11/2021).
(6) The tenant is currently paying £19,800 per annum for the first year of the term, which means that from the 4th April 2022 the rent will increase to £47,500 per annum. The Seller has agreed to make an allowance from completion of the sale until the expiry of the concessionary rental period-please see Special Conditions of Sale.

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.