Close to prime pedestrianised city centre location
Principal thoroughfare for Norfolk Street to Fargate
Neighbouring occupiers include Marks & Spencer, Caffè Nero, H Samuel, Paperchase and Boots
Lot 35
Auction 19th October 2017
Rent £82,500 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of a Major Asset Manager
Property Information
Location
Miles
33 miles south of Leeds, 22 miles west of Doncaster, 38 miles east of Manchester
Roads
A61, A57, A631, M1
Rail
Sheffield Railway Station
Air
Sheffield Robin Hood Airport, Manchester International Airport
Situation
The major university city of Sheffield is England's fourth largest city in terms of population and is the principal retailing and commercial centre for South Yorkshire. Chapel Walk is situated between the eastern side of the prime pedestrianised retail thoroughfare of Fargate and the west side of Norfolk Street, opposite the Crucible Theatre. Neighbouring occupiers on Fargate include Marks & Spencer, Caffè Nero, H Samuel, Paperchase and Boots.
Tenure
Freehold. Freehold and Leasehold. Units 18 to 30 are to be held on a new 250 year long leasehold interest with a fixed peppercorn rent. Unit 32 to 36 are held Freehold.
Location
Miles
33 miles south of Leeds, 22 miles west of Doncaster, 38 miles east of Manchester
Roads
A61, A57, A631, M1
Rail
Sheffield Railway Station
Air
Sheffield Robin Hood Airport, Manchester International Airport
Situation
The major university city of Sheffield is England's fourth largest city in terms of population and is the principal retailing and commercial centre for South Yorkshire. Chapel Walk is situated between the eastern side of the prime pedestrianised retail thoroughfare of Fargate and the west side of Norfolk Street, opposite the Crucible Theatre. Neighbouring occupiers on Fargate include Marks & Spencer, Caffè Nero, H Samuel, Paperchase and Boots.
Tenure
Freehold. Freehold and Leasehold. Units 18 to 30 are to be held on a new 250 year long leasehold interest with a fixed peppercorn rent. Unit 32 to 36 are held Freehold.
Description
The property consists of 7 retail units each comprising retail accommodation on the ground floor with ancillary accommodation on the first floors. Units 18-30 form part of a larger building which not included in the sale
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property consists of 7 retail units each comprising retail accommodation on the ground floor with ancillary accommodation on the first floors. Units 18-30 form part of a larger building which not included in the sale
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
18
Ground Basement
Retail/Ancillary Ancillary
75.71 sq m 68.93 sq m
(815 sq ft) (742 sq ft)
CLAIRE'S ACCESSORIES UK LTD (1)
5 years from 19/10/2014
£32,500
(18/10/2019)
20
Ground Basement
Retail/Ancillary Ancillary
74.79 sq m 17.65 sq m
(805 sq ft) (190 sq ft)
VACANT POSSESSION
-
-
-
22-24
Ground Basement
Retail/Ancillary Ancillary
158.77 sq m 211.72 sq m
(1,709 sq ft) (2,279 sq ft)
VACANT POSSESSION
-
-
-
30
Ground First
Retail/Ancillary Ancillary
20.53 sq m 18.95 sq m
(221 sq ft) (204 sq ft)
VACANT POSSESSION
-
-
-
32
Ground First
Retail/Ancillary Ancillary
89.37 sq m 25.92 sq m
(962 sq ft) (279 sq ft)
WHEWELL AND WEGER LTD t/a Andrews Café
10 years from 03/02/2014 (2)
£35,000
03/02/2019 (02/02/2024)
36
Ground First
Retail/Ancillary Ancillary
23.50 sq m 22.85 sq m
(253 sq ft) (246 sq ft)
INDIVIDUALS t/a Stitch Express
10 years from 18/05/2014 (3)
£15,000
18/05/2019 (17/05/2024)
Totals
808.69 sq m
(8,705 sq ft)
£82,500 with 3 vacant shops to be let
(1) For the year ending 30th January 2016, Claire's Accessories UK Ltd reported a turnover of £121,709,000, a pre-tax profit of £4,770,000 and net worth of £22,216,000 (Source: Experian Group 18/09/2017). (2) As to Unit 32 let to Whewell and Weger Ltd, the lease provides for a tenant/mutual rolling option to determine the lease from 03/02/2019 subject to 6 months’ notice. (3) As to Unit 36 let to Individuals, the lease provides for a tenant rolling option to determine the lease from 18/09/2019 subject to 6 months’ notice.
