Jewson, Deacon Road Industrial Estate Deacon Road (off Outer Circle Road) Lincoln Lincolnshire LN2 4LB

  • Jewson, Deacon Road Industrial Estate<br>Deacon Road (off Outer Circle Road)<br>Lincoln<br>Lincolnshire<br>LN2 4LB

Jewson, Deacon Road Industrial Estate
Deacon Road (off Outer Circle Road)
Lincoln
Lincolnshire
LN2 4LB

Virtual Freehold Trade Counter Investment

  • Let to Jewson Limited for 25 years
  • Tenant in occupation since at least 1993
  • Situated in an established trade counter location
  • Approximately 400 yards from new Tesco Superstore
  • Nearby occupiers include Magnet, Topps Tiles, Wickes, Camper and Western Power Distribution
  • Option to purchase the freehold interest
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    10
  • Auction
    26th March 2015
  • Rent
    £94,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £985,000
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Clients of LaSalle Investment Management
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Virtual Freehold Trade Counter Investment

  • Let to Jewson Limited for 25 years
  • Tenant in occupation since at least 1993
  • Situated in an established trade counter location
  • Approximately 400 yards from new Tesco Superstore
  • Nearby occupiers include Magnet, Topps Tiles, Wickes, Camper and Western Power Distribution
  • Option to purchase the freehold interest
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 10
  • Auction 26th March 2015
  • Rent £94,000 per Annum Exclusive
  • Status Sold
  • Price £985,000
  • Sector
    Trade Counter/Builders Merchants
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Clients of LaSalle Investment Management

Property Information

Location
Miles
1.5 miles east of the city centre, 36 miles north-east of Nottingham, 40 miles south-east of Sheffield
Roads
B1308, A15, A46, A1
Rail
Lincoln Mainline Railway Station
Air
East Midlands Airport
Situation

The property is situated on Deacon Road accessed via Outer Circle Road, an established commercial area that is home to a variety of trade counter, out of town retail, car showroom, industrial and distribution businesses. Nearby occupiers include Tesco, Magnet, Topps Tiles, Wickes, Western Power Distribution and Camper. The location affords easy access to the city centre and to the A46 Lincoln bypass.

Tenure

Virtual Freehold. Held for a term of 1000 years from 23/12/2003 at a peppercorn rent. The head lease contains a right to buy the freehold interest for £1 at any time after 1/01/2019.

Location
Miles
1.5 miles east of the city centre, 36 miles north-east of Nottingham, 40 miles south-east of Sheffield
Roads
B1308, A15, A46, A1
Rail
Lincoln Mainline Railway Station
Air
East Midlands Airport
Situation

The property is situated on Deacon Road accessed via Outer Circle Road, an established commercial area that is home to a variety of trade counter, out of town retail, car showroom, industrial and distribution businesses. Nearby occupiers include Tesco, Magnet, Topps Tiles, Wickes, Western Power Distribution and Camper. The location affords easy access to the city centre and to the A46 Lincoln bypass.

Tenure

Virtual Freehold. Held for a term of 1000 years from 23/12/2003 at a peppercorn rent. The head lease contains a right to buy the freehold interest for £1 at any time after 1/01/2019.

Description

Unit A, which forms part of a larger site, comprises a single storey trade counter unit benefiting from 10 roller shutter doors, service yard and car parking to the front and side. Units B, C, D, E & F which are also included in the sale have been let on two 1,000 year leases (see Note 2).

6 Week Completion

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

Unit A, which forms part of a larger site, comprises a single storey trade counter unit benefiting from 10 roller shutter doors, service yard and car parking to the front and side. Units B, C, D, E & F which are also included in the sale have been let on two 1,000 year leases (see Note 2).

6 Week Completion

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.

Tenancy & Accommodation

Unit Use Floor Areas (Approx) Tenant Term Rent p.a.x Reversion
A Trade Counter
2,593.18 sq m
(27,913 sq ft)
 JEWSON LIMITED (1) 25 years from 24/08/1993 on a full repairing and insuring lease £94,000 23/08/2018
Totals  
2,593.18 sq m
(27,913 sq ft)
     £94,000

(1) Founded in 1836, Jewson Limited are the UK’s leading supplier of sustainable timber and building materials and currently operates from over 600 branches. (Source: www.jewson.co.uk) Jewson Limited is a wholly owned subsidiary of Saint-Gobain Building Distribution Limited. For the year ending 31st December 2013, Saint-Gobain Building Distribution Limited reported a turnover of £623,912,000, pre-tax loss of £39,426,000 and a total net worth of £137,991,000. (Source:www.riskdisk.com 02/03/2015)
(2)Units B, C, D, E & F have been let on two 1,000 year leases (less 5 days) from 23/12/2003 at a peppercorn rent.

Contacts

Seller's Solicitors
DLA Piper UK LLP Seventh Floor, India Buildings, Water Street
Liverpool
L2 0NH
Caroline Cockrell 0151 237 4874caroline.cockrell@dlapiper.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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