10 - 12 Victoria Street Derby Derbyshire DE1 1EQ

10 - 12 Victoria Street
Derby
Derbyshire
DE1 1EQ

Freehold Leisure, Retail and Residential Investment

Majority let to ABA Leisure (Five) Limited until 2033 (No breaks)
Part let to Jeweller – new 5 year lease renewal agreed
Large flat with vacant possession
City Centre location within Derby’s leisure pitch
Nearby occupiers include Revolution, Barracuda Bars and retailers including Primark & Boots the Chemist
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
32
Auction
12th February 2015
Rent
£73,200 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Leisure, Retail and Residential Investment

Majority let to ABA Leisure (Five) Limited until 2033 (No breaks)
Part let to Jeweller – new 5 year lease renewal agreed
Large flat with vacant possession
City Centre location within Derby’s leisure pitch
Nearby occupiers include Revolution, Barracuda Bars and retailers including Primark & Boots the Chemist
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 32
Auction 12th February 2015
Rent £73,200 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Leisure
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 15 miles west of Nottingham; 28 miles north-west of Leicester
Roads: A6, A52, A38, M1 (Junction 25)
Rail: Derby Railway Station
Air: East Midlands International Airport

Situation

The property is prominently situated in the heart of Derby City Centre on the north side of Victoria Street, close to its junction with St James Street and The Strand, an area popular with pubs/bars, restaurants and nightclubs as well as Derby’s main retailing offer.

Tenure

Freehold.

Location

Miles: 15 miles west of Nottingham; 28 miles north-west of Leicester
Roads: A6, A52, A38, M1 (Junction 25)
Rail: Derby Railway Station
Air: East Midlands International Airport

Situation

Tenure

Freehold.

Description

The property comprises a nightclub/entertainment centre arranged on part ground, mezzanine and first floors, a retail/showroom arranged on part ground and second floors and a six room former flat on the third floor.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here

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	Review
Ground Mezzanine First	Nightclub/Ancillary Nightclub/Ancillary Residential	213.67 sq m 34.83 sq m 3 Room Flat	(2,300 sq ft) (375 sq ft)	ABA LEISURE (FIVE) LIMITED t/a Baby Platinum (1)	25 years from 22/04/2008 until 2033	£65,000	22/04/2018 & 5 yearly
Part Ground Second	Retail/Kiosk Showroom/Ancillary	11.14 sq m 110.55 sq m	(120 sq ft) (1,190 sq ft)	MR S BRIMBLE t/a Cresta Gems (2)	6 years from 05/10/2008 (Holding over) (3)	£8,200
Third	Former Residential	6 Room Flat		VACANT POSSESSION
Total Commercial Area		370.19 sq m	(3,985 sq ft)			£73,200

NB. The Nightclub has been measured on a Gross Internal basis.
(1) For the year ending 31st December 2013, ABA Leisures (Five) Limited reported a total net worth of £459,458.
(Source: www.riskdisk.com 14/012015). Baby Platinum trade from three nightclubs in the UK, in Derby, Manchester and Leeds.
(Source: www.babyplatinum.co.uk) The Seller is holding a £32,500 + VAT rent deposit.
(2) Cresta Gems is an independent, family run, working goldsmiths who trade from other shops in Heanor and Ripley. (Source: www.crestagems.co.uk)
(3) A new lease has been agreed (but not yet documented) for a term of 5 years from 05/10/2014 at a rent of £8,200 p.a.x. with a 3 month rent free period and a tenant option to determine the lease on 05/10/2016. Please see legal pack.