Let to Heron Foods Limited on lease expiring July 2028 (No breaks)
July 2023 tenant break not exercised and July 2023 rent review outstanding
VAT-free investment
Approximately 6,193 sq ft
Nearby occupiers include Costcutter, Premier Convenience Store, Greggs and Betfred (adjacent)
Lot 31
Auction 27th March 2024
Rent £19,000 per Annum Exclusive
Status Sold Prior
Price
Sector Supermarket
Auction Venue Live Streamed Auction
Property Information
Location
Miles
2 miles east of Newcastle City Centre, 12 miles north-west of Sunderland
Roads
A186, A187, A193, A1058
Rail
Walkergate, Byker Underground Stations
Air
Newcastle International Airport
Situation
Walker is a popular residential suburb, 2 miles east of Newcastle City Centre. The property is situated on the south side of Welbeck Road, at its junction with Leicester Street. Nearby occupiers include Costcutter, Premier Convenience Store, Greggs and Betfred (adjacent).
Tenure
Freehold.
Location
Miles
2 miles east of Newcastle City Centre, 12 miles north-west of Sunderland
Roads
A186, A187, A193, A1058
Rail
Walkergate, Byker Underground Stations
Air
Newcastle International Airport
Situation
Walker is a popular residential suburb, 2 miles east of Newcastle City Centre. The property is situated on the south side of Welbeck Road, at its junction with Leicester Street. Nearby occupiers include Costcutter, Premier Convenience Store, Greggs and Betfred (adjacent).
Tenure
Freehold.
Description
The property comprises a supermarket arranged on the ground and first floors.
VAT
VAT is not applicable to this lot.
EPC
Band C
Description
The property comprises a supermarket arranged on the ground and first floors.
VAT
VAT is not applicable to this lot.
EPC
Band C
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Rent Review
Ground First
Retail/Ancillary Ancillary
342.00 233.40
(3,681) (2,512)
HERON FOODS LIMITED (2)
10 years from 18/07/2018
£19,000
18/07/2023 (outstanding)
Total
575.40
(6,193)
£19,000
(1) Areas provided by VOA (www.gov.uk/find-business-rates) (2) For the year ending 25/03/2023, Heron Foods Limited reported a turnover of £490,669,000, a pre-tax profit of £16,967,000 and a net worth of £86,559,000 (www.northrow.com).
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.
