Heron Foods Ltd was incorporated in 1978 and has reported profits for the last 26 years
Let to Heron Foods Ltd on a new 17.5 year lease (10 year option to renew) from completion
Guaranteed rental increases with Rent Reviews linked to Consumer Price Index (CPI) (subject to a Minimum of 1% and a Maximum of 3%)
Neighbouring occupiers include Lloyds TSB, RBS, NatWest Bank, Subway and Boots
Six Week Completion
Lot 28
Auction 9th July 2014
Rent £38,000 per Annum Exclusive
Status Sold
Price £500,000
Sector Supermarket/Convenience
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Heron Foods Ltd
Property Information
Location
Miles
2 miles west of Wigan Town Centre, 18 miles north-west of Manchester ,19 miles south of Preston, 18 miles east of Liverpool
Roads
M6, M58, A577, A49
Rail
Pemberton Railway Station, Wigan North Western
Air
Liverpool John Lennon Airport, Manchester International Airport
Situation
The property is situated on the busy Ormskirk Road (A577), a main thoroughfare between Wigan and the M6 and M58. Neighbouring occupiers include Lloyds TSB, RBS, NatWest Bank, Subway and Boots.
Tenure
Freehold.
Location
Miles
2 miles west of Wigan Town Centre, 18 miles north-west of Manchester ,19 miles south of Preston, 18 miles east of Liverpool
Roads
M6, M58, A577, A49
Rail
Pemberton Railway Station, Wigan North Western
Air
Liverpool John Lennon Airport, Manchester International Airport
Situation
The property is situated on the busy Ormskirk Road (A577), a main thoroughfare between Wigan and the M6 and M58. Neighbouring occupiers include Lloyds TSB, RBS, NatWest Bank, Subway and Boots.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with ancillary accommodation on the first floor.
VAT
VAT is not 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 accommodation on the first floor.
VAT
VAT is not 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 First
Retail Ancillary
263.78 sq m 249.41 sq m
(2,839.30 sq ft) (2,684.63 sq ft)
HERON FOODS LTD (1)
17.5 years from completion on a full repairing and insuring lease with a 10 year option to renew
£38,000
Rental increases linked to CPI (subject to minimum of 1% and maximum of 3%) 5 yearly annually compounded
Totals
513.19 sq m
(5,523.93 sq ft)
£38,000
(1) Heron Foods Ltd was incorporated in 1978 and operates from some 235 outlets nationally. In some 45 years of trading Heron Foods Ltd have always reported annual profits. For the year ending 29 December 2012, Heron Foods Limited reported a turnover of £194,703,789, pre-tax profits of £4,816,227 and a net worth of £21,324,565. (Source: www.riskdisk.com 10th June 2014.)
