City Centre Retail Investment
City Centre Retail Investment
The property is situated in the heart of Liverpool's prime pedestrianised retailing district approximately 150 metres equidistant from the major established St John's Shopping Centre and the modern Liverpool One shopping centre.
Long Leasehold. Held from Liverpool City Council for a term of 125 years expiring on 24th December 2110 at a fixed peppercorn rent
The property is situated in the heart of Liverpool's prime pedestrianised retailing district approximately 150 metres equidistant from the major established St John's Shopping Centre and the modern Liverpool One shopping centre.
Long Leasehold. Held from Liverpool City Council for a term of 125 years expiring on 24th December 2110 at a fixed peppercorn rent
The property is a substantial detached retail building comprising retail and ancillary accommodation on the ground floor, first floor, second floor and basement.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property is a substantial detached retail building comprising retail and ancillary accommodation on the ground floor, first floor, second floor and basement.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Unit/Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reviews/(Reversion) | |
|---|---|---|---|---|---|---|---|
| Basement Part Ground |
Retail & Ancillary Retail and Loading |
673.56 sq m 588.50 sq m |
(7,250 sq ft) (6,335 sq ft) |
DAWSONS MUSICLIMITED (1) |
15 years from 14th September 2012 until 2027 (2) |
£85,000 (3) | 2017 and 5 yearly |
| Part Ground First Second |
Retail & Ancillary Retail/Ancillary Ancillary |
87.59 sq m 677.71 sq m 673.67 sq m |
(943 sq ft) (7,293 sq ft) (7,251 sq ft) |
SLATER MENSWEAR (4) |
15 years from 29/09/2001 |
£129,250 | (2016) |
| Totals | 2,701.03 sq m |
(29,072 sq ft) |
£214,250 | ||||
(1) Dawson Music Limited was incorporated in 1922 and currently operates from 11 outlets nationwide. For more information see www.dawsons.co.uk. For the year ending 31st May 2011, Dawson Music Limited reported a turnover of £13,729,029, pre-tax profits of £103,476 and a net worth of £2,060,733. (Source: www.riskdisk.com)
(2) As to the lease of the Basement and Ground Floors to Dawsons Music Limited, the lease provides for a tenant only option to determine the lease at the 5th and 10th anniversaries of the term, subject to 6 months’ notice in writing and subject to a penalty payment of 3 months’ rent in relation to the 5th anniversary.
(3) As to the lease of the Basement and Ground Floor, the current rent reserved is £85,000 per annum exclusive. The lease provides for a rent free period until 31st December 2013. The seller will pay the buyer the rent that would have been due in the absence of the rent free period.
(4) Slaters Menswear are a long established family business operating from 22 outlets nationwide. (Source: www.slaters.co.uk)
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