Nisa Extra Store South Lane, Huddersfield Road Elland HX5 0HQ

Nisa Extra Store
South Lane, Huddersfield Road
Elland
HX5 0HQ

Modern Freehold Convenience Store Investment

Entirely let until 2035
Rent reviews linked to RPI annually from 2014 (minimum 2%, maximum 4%)
Car parking for approximately 75 cars
Rent subject to Note (2) below
On behalf of The Co-Operative

Lot
23
Auction
21st October 2010
Rent
£85,000 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

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Modern Freehold Convenience Store Investment

Entirely let until 2035
Rent reviews linked to RPI annually from 2014 (minimum 2%, maximum 4%)
Car parking for approximately 75 cars
Rent subject to Note (2) below
On behalf of The Co-Operative

Lot 23
Auction 21st October 2010
Rent £85,000 per Annum Exclusive
Status Sold Post
Price
Sector
Supermarket/Convenience
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

Property Information

Location

Miles: 2 miles south of Halifax, 6 miles south-west of Bradford, 12 miles south-west of Leeds
Roads: M62, A629
Rail: Sowerby Bridge Rail, Halifax Rail
Air: Leeds Bradford International Airport

Situation

The property is prominently situated just off Huddersfield Road in close proximity to the town centre.

Tenure

Freehold.

Location

Miles: 2 miles south of Halifax, 6 miles south-west of Bradford, 12 miles south-west of Leeds
Roads: M62, A629
Rail: Sowerby Bridge Rail, Halifax Rail
Air: Leeds Bradford International Airport

Situation

The property is prominently situated just off Huddersfield Road in close proximity to the town centre.

Tenure

Freehold.

Description

The property comprises a freestanding CONVENIENCE STORE with frontages to both Huddersfield Road and South Lane. The property benefits from a glazed frontage facing the car park with approximately 75 car parking spaces. The site has an area of approximately 0.54 hectares (1.33 acres).

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
Ground	Retail	1,054 sq m	(11,346 sq ft)	LINEBUSH VI LTD (guaranteed by Mills Group plc) (1)	25 years from 30/01/2010 until 2035 on a full repairing and insuring lease	£85,000	2014 and annually thereafter (3)
Totals		1,054 sq m	(11,346 sq ft)			£85,000

(1) For the year ending 31/01/2009, Mills Group Holdings plc reported a turnover of £10,294,000, pre-tax profits of £213,000 and a net worth of £1,193,000.(2) The current rent reserved is £65,000 p.a.x. Under the terms of the lease there will be a minimum rental increase to £85,000 p.a.x. on 30th January 2012. The Vendor will pay the Buyer the difference between the current rent reserved of £65,000 p.a.x. and £85,000 p.a.x. from completion of the sale until this date. As a result the property will produce an income of £85,000 p.a.x.(3) Rent reviews are linked to RPI (minimum 2% maximum 4%).