Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
23 miles south of Nottingham, 45 miles east of Birmingham, 100 miles north of London
Roads
A6, A47, M1 (J21), M69 (J1)
Rail
Leicester (1 hour 7 minutes to London St Pancras International)
Air
East Midlands Airport, Birmingham International Airport
Situation
The accommodation is located within a busy parade on London Road, close to the Evington Road junction and St Albans Road. The property is within walking distance of Leicester Train Station,
Leicester City Centre and both Universities. Nearby occupiers include Dominos, Lloyds Bank and Richer Sounds.
Tenure
Freehold.
Location
Miles
23 miles south of Nottingham, 45 miles east of Birmingham, 100 miles north of London
Roads
A6, A47, M1 (J21), M69 (J1)
Rail
Leicester (1 hour 7 minutes to London St Pancras International)
Air
East Midlands Airport, Birmingham International Airport
Situation
The accommodation is located within a busy parade on London Road, close to the Evington Road junction and St Albans Road. The property is within walking distance of Leicester Train Station,
Leicester City Centre and both Universities. Nearby occupiers include Dominos, Lloyds Bank and Richer Sounds.
Tenure
Freehold.
Description
The property comprises a ground floor supermarket with basement ancillary accommodation, and 11 x en-suite student bedrooms on the upper two floors, with kitchen facilities on both floors. An
application has been submitted for the change of us of a store room to convert to an additional bedroom.
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
The property comprises a ground floor supermarket with basement ancillary accommodation, and 11 x en-suite student bedrooms on the upper two floors, with kitchen facilities on both floors. An
application has been submitted for the change of us of a store room to convert to an additional bedroom.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/(Reversions)
Ground Basement
Supermarket/Ancillary Ancillary
276.97 sq m 92.80 sq m
(2,981 sq ft) (999 sq ft)
SAINSBURY’S SUPERMARKETS LTD (1)
15 years from 28/04/2014 until 27/04/2029 (2)
£60,000
28/04/2019 and 28/04/2024 (3)
First
Student Accommodation
6 en-suite bedrooms & kitchen
INDIVIDUALS
1 year from 01/08/2015
£30,240 (4)
(30/06/2016)
Second
Student Accommodation
5 en-suite bedrooms & kitchen
INDIVIDUALS
10 months from 01/09/2015
£22,575 (4)
(30/06/2016)
Total Retail Floor Area
369.77 sq m
(3,980 sq ft)
£112,815
(1) For the year ending 15th March 2014, Sainsbury’s Supermarkets Limited reported a turnover of £23,919,000,000, pre-tax profits of £810,000,000 and a total net worth of £4,706,000,000. (Source: www.riskdisk.com 03/08/2015) (2) The lease provides an option to determine on 28th April 2024. (3) The lease provides fixed uplifts to a minimum of 1% and maximum of 3.5% per annum compounded. (4) The rental income for the student accommodation is £105 p.w. per room and includes all rates and utility bills. The rental figure stated has been annualised and adjusted to incorporate a 50% rental concession in July and August. Please refer to the legal pack for a breakdown of the rents.
Contacts
Associate Auctioneers
Heb Apex Business Park, Ruddington Lane Nottingham NG11 7DD
