19 / 20 Blandford Street Sunderland Tyne and Wear SR1 3JP

19 / 20 Blandford Street
Sunderland
Tyne and Wear
SR1 3JP

Freehold Retail Investent

Let to Heron Foods Ltd on a new 17.5 year lease (10 year option to renew) from completion
Heron Foods Ltd was incorporated in 1978 and has reported profits for the last 26 years
Guaranteed rental increases with Rent Reviews linked to Consumer Price Index (CPI) (subject to a minimum of 1% and a maximum of 3%)
Pedestrianised City Centre location close to The Bridges Shopping Centre
Neighbouring occupiers include Holland & Barrett, Yorkshire Bank and Santander Bank
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
14
Auction
26th March 2015
Rent
£60,000 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Heron Foods
Octopus Bridging Loan
To be confirmed

Interested?

Expand
Photos
Map

Freehold Retail Investent

Let to Heron Foods Ltd on a new 17.5 year lease (10 year option to renew) from completion
Heron Foods Ltd was incorporated in 1978 and has reported profits for the last 26 years
Guaranteed rental increases with Rent Reviews linked to Consumer Price Index (CPI) (subject to a minimum of 1% and a maximum of 3%)
Pedestrianised City Centre location close to The Bridges Shopping Centre
Neighbouring occupiers include Holland & Barrett, Yorkshire Bank and Santander Bank
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 14
Auction 26th March 2015
Rent £60,000 per Annum Exclusive
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Heron Foods

Property Information

Location

Miles: 13 miles south-east of Newcastle-upon-Tyne, 13 miles south-west of Durham
Roads: A1(M), A19, A1018, A1231, A690
Rail: Sunderland Railway Station
Air: Newcastle Airport

Situation

The property is situated on busy pedestrianised Blandford Street in the City Centre, close to The Bridges Shopping Centre. Neighbouring occupiers include Holland & Barrett, Yorkshire Bank, Santander Bank and Specsavers Opticians.

Tenure

Freehold.

Location

Miles: 13 miles south-east of Newcastle-upon-Tyne, 13 miles south-west of Durham
Roads: A1(M), A19, A1018, A1231, A690
Rail: Sunderland Railway Station
Air: Newcastle Airport

Situation

Tenure

Freehold.

Description

The property comprises retail accommodation on the ground floor, with ancillary accommodation on the first 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 not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

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 Ancillary	259.75 sq m 237.27 sq m	(2,795 sq ft) (2,554 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	£60,000	Rental increases linked to CPI (subject to minimum of 1% and a maximum of 3%) 5 yearly annually compounded
Totals		497.02 sq m	(5,349 sq ft)			£60,000

(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 28/12/2013, Heron Foods Ltd reported a turnover of £249,688,954, pre-tax profits of £2,301,042 and a net worth of £26,419,497. (Source: www.riskdisk.com 24/02/2015)