38/40 Gallowtree Gate Leicester Leicestershire LE1 1DA

38/40 Gallowtree Gate
Leicester
Leicestershire
LE1 1DA

Freehold Retail Investment

Entirely let to Bell Street Estates Ltd until 2045
Prime retail position in city centre location
Prime pedestrianised retail location close to Boots the Chemist, W H Smith, Marks & Spencer and Starbucks
Rent Review 2013 to 11/14ths of OMRV

Lot
14
Auction
8th July 2010
Rent
£165,000 per Annum
Status
Withdrawn Post
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

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Freehold Retail Investment

Entirely let to Bell Street Estates Ltd until 2045
Prime retail position in city centre location
Prime pedestrianised retail location close to Boots the Chemist, W H Smith, Marks & Spencer and Starbucks
Rent Review 2013 to 11/14ths of OMRV

Lot 14
Auction 8th July 2010
Rent £165,000 per Annum
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

Property Information

Location

Estimated Population: 280,000
Miles: 38 miles north of Northampton; 45 miles east of Birmingham; 99 miles north of London
Roads: A6, M69, M1 (Junction 21, 21A and 22
Rail: Leicester Railway Station (direct to London St Pancras
Air: Nottingham East Midlands Airport

Situation

The property is situated in a prominent location on the eastern side of Gallowtree Gate, a prime pedestrianised retail thoroughfare, approximately 250 metres from both Highcross Shopping Quarter and Haymarket Shopping Centre. The property is adjacent to Boots the Chemist and other nearby occupiers include W H Smith, Marks & Spencer, Bhs and Starbucks.

Tenure

Freehold.

Location

Estimated Population: 280,000
Miles: 38 miles north of Northampton; 45 miles east of Birmingham; 99 miles north of London
Roads: A6, M69, M1 (Junction 21, 21A and 22
Rail: Leicester Railway Station (direct to London St Pancras
Air: Nottingham East Midlands Airport

Situation

Tenure

Freehold.

Description

The property comprises a PURPOSE BUILT RETAIL UNIT arranged over ground floor and part basement, with ANCILLARY AND STAFF ACCOMMODATION on first and second floors. Rear servicing is available via the Boots service yard.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

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
Basement (1) Ground First Second	Retail Retail Storage/Staff Staff	95.88 sq m 287.44 sq m 298.40 sq m 151.53 sq m	(1,032 sq ft) (3,094 sq ft) (3,212 sq ft) (1,631 sq ft)	BELL STREET ESTATES LTD (2)	81 years from 12/02/1964 until 12/06/2045 on a full repairing and insuring lease	£165,000 (with effect from 1988)	25/12/2013 and 25/12/2038 based on ¹¹/_14ths of open market rental value (3)
Totals		833.25 sq m	(8,969 sq ft)			£165,000

(1)The basement is currently unused and accessed via a trapdoor from retail area. Previous sales staircase still in situ. (2)Please note, the entire property has been sub-let to Stylo Barratt, now known as Apperley Realisations No. 2 Limited, in administration, for 15 years from4th August 1996 until 2011 at a rent of 230,000 p.a.x. The tenant is seeking a sub-letting and the property is currently occupied by a temporary trader. (3)Please note, the rent is reviewed to 11/14ths of the open market rental value.