Entirely let to 99p Stores Ltd until 2026 (subject to option)
Rent increasing to £240,187 per annum exclusive in 2016
Includes parking for approximately 92 cars
Substantial site area of 0.68 hectares (1.68 acres) in town centre location
Future redevelopment potential (subject to consents)
Six Week Completion Period Available
Lot 33
Auction 14th February 2013
Rent £120,093 per Annum Exclusive
Status Sold
Price £1,460,000
Sector Retail Warehouse
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Joint Fixed Charge Receivers, Jones Lang LaSalle
Property Information
Location
Miles
8 miles south-west of Nottingham, 9 miles south-west of Derby, 24 miles north of Leicester
Roads
A52, A6005, M1 (Junction 25)
Rail
Long Eaton
Air
Nottingham Airport
Situation
The property occupies a substantial site within the town centre immediately south of High Street, the town’s principal retail thoroughfare. The property is accessed off Main Street (which leads directly into High Street) via Chapel Street. Nearby occupiers include Argos, British Heart Foundation, United Carpets and Specsavers.
Tenure
Freehold.
Location
Miles
8 miles south-west of Nottingham, 9 miles south-west of Derby, 24 miles north of Leicester
Roads
A52, A6005, M1 (Junction 25)
Rail
Long Eaton
Air
Nottingham Airport
Situation
The property occupies a substantial site within the town centre immediately south of High Street, the town’s principal retail thoroughfare. The property is accessed off Main Street (which leads directly into High Street) via Chapel Street. Nearby occupiers include Argos, British Heart Foundation, United Carpets and Specsavers.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with ancillary storage and staff accommodation. The property benefits from good access off Main Street and a 92 space customer car park.
Note
This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The Joint Fixed Charge Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with ancillary storage and staff accommodation. The property benefits from good access off Main Street and a 92 space customer car park.
Note
This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The Joint Fixed Charge Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Retail
2,126 sq m
(22,875 sq ft)
99p STORES LTD (t/a Family Bargains) (1)
15 years from 23/11/2011 until 22/11/2026 (2)
£120,093.50
23/11/2016 and 23/11/2021
Totals
2,126 sq m
(22,875 sq ft)
£120,093.50 rising to £240,187 in 2016
(1) For the year ending 31st January 2012, 99p Stores Ltd reported a turnover of £270,221,672, pre-tax profits of £7,188,530 and a total net worth of £12,396,841. (Source: www.riskdisk.com 18/01/2013) (2)There is a tenant only option to determine on the 22nd November 2021 on providing 12 months’ written notice.
Contacts
Seller's Solicitors
Russell Cooke Solicitors 8 Bedford Row London WC1R 4BX
