Debenhams Department Store, Rylands Building 109-127 Market Street Manchester M60 1TA

  • Debenhams Department Store, Rylands Building<br>109-127 Market Street<br>Manchester<br>M60 1TA

Debenhams Department Store, Rylands Building
109-127 Market Street
Manchester
M60 1TA

Prime Freehold Ground Rent Investment in City Centre Location

  • Entirely let to a subsidiary of The British Land Company plc until 2867 and sub-let to Debenhams plc until 2039
  • Approximately 32,820.10 sq m  (353,276 sq ft) and 0.505 hectares  (1.25 acres) in the city centre
  • Highly prominent and substantial department store in prime pedestrianised retail location
  • Situated adjacent to the Arndale Shopping Centre and opposite Primark
  • Six week completion available
  • Lot
    8
  • Auction
    9th December 2010
  • Rent
    £50,755 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,080,000
  • Auction Venue
    Millennium Hotel
    39-44 Grosvenor Square
    London W1K 2HP
  • On instructions from Nomad Limited, a wholly owned subsidiary of Targetfollow Property Holdings Limited (in administration)
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Prime Freehold Ground Rent Investment in City Centre Location

  • Entirely let to a subsidiary of The British Land Company plc until 2867 and sub-let to Debenhams plc until 2039
  • Approximately 32,820.10 sq m  (353,276 sq ft) and 0.505 hectares  (1.25 acres) in the city centre
  • Highly prominent and substantial department store in prime pedestrianised retail location
  • Situated adjacent to the Arndale Shopping Centre and opposite Primark
  • Six week completion available
  • Lot 8
  • Auction 9th December 2010
  • Rent £50,755 per Annum Exclusive
  • Status Sold
  • Price £1,080,000
  • Sector
    Ground Rent
  • Auction Venue
    Millennium Hotel
    39-44 Grosvenor Square
    London W1K 2HP
  • On instructions from Nomad Limited, a wholly owned subsidiary of Targetfollow Property Holdings Limited (in administration)

Property Information

Location
Liverpool (34 miles west), Leeds (40 miles north)
Roads
 M60, M62, M602
Rail
 Manchester Piccadilly (direct to London Euston)
Air
 Manchester International Airport
Situation

The property is situated in a highly prominent corner position at the corner of Market Street and High Street in Manchester's main shopping core. The property is adjacent to the Arndale Shopping Centre and opposite Primark with other nearby occupiers including HMV, Superdrug and Barclays Bank.

Tenure

Freehold.

Location
Liverpool (34 miles west), Leeds (40 miles north)
Roads
 M60, M62, M602
Rail
 Manchester Piccadilly (direct to London Euston)
Air
 Manchester International Airport
Situation

The property is situated in a highly prominent corner position at the corner of Market Street and High Street in Manchester's main shopping core. The property is adjacent to the Arndale Shopping Centre and opposite Primark with other nearby occupiers including HMV, Superdrug and Barclays Bank.

Tenure

Freehold.

Description

The property comprises a substantial detached department store on a site of approximately 0.505 hectares (1.25 acres) in Manchester city centre. The property comprises retail accommodation on basement, ground, mezzanine, first, second and third floors while the fourth to seventh floors comprise ancillary accommodation. Additionally there are two, 11-person customer lifts,  five goods lifts, a loading bay and five roller shutter doors.

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 substantial detached department store on a site of approximately 0.505 hectares (1.25 acres) in Manchester city centre. The property comprises retail accommodation on basement, ground, mezzanine, first, second and third floors while the fourth to seventh floors comprise ancillary accommodation. Additionally there are two, 11-person customer lifts,  five goods lifts, a loading bay and five roller shutter doors.

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
Basement to Seventh Retail/Ancillary

32.820.10 sq m

(353,276 sq ft)

 BF PROPCO (NO. 12) LIMITED, a subsidiary of THE BRITISH LAND COMPANY PLC (1) (2) 914 years from 25th December 1953 until 2867 on a full repairing and insuring lease  £50,755.20
Totals  

32,820.10 sq m
(353,276 sq ft)
     £50,755.20

(1) For the year ending 31st March 2010, BF Propco (No. 12) Limited reported a turnover of £4,877,000, pre-tax profits of £855,000 and a net worth of £5,169,000. The British Land Company plc is the ultimate parent company. For the year ending 31st March 2010, The British Land Company plc reported a turnover of £394,000,000, pre-tax profits of £1,128,000,000 and a net worth of £4,198,000,000. (Source: www.riskdisk.com)
(2) The tenant has sublet the entire property to Debenhams plc for a term of 35 years from 23rd April 2004 until 2039

Contacts

Acuitus
Charlie PowterCharlie Powter +44 (0)20 7034 4853 +44 (0)7768 120 904charlie.powter@acuitus.co.uk
Seller's Solicitors
CMS Cameron McKenna LLP Mitre House
160 Aldersgate Street
London
EC1A 4DD +44 (0)20 7367 2000
Ref. Eleanor Corey. ELJY/LMY/OT0117.10027 +44 (0)20 7367 2335eleanor.corey@cms-cmck.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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