29, 29A and 29B, Market Place Melton Mowbray Leicestershire LE13 1XD

  • 29, 29A and 29B, Market Place<br>Melton Mowbray<br>Leicestershire<br>LE13 1XD

29, 29A and 29B, Market Place
Melton Mowbray
Leicestershire
LE13 1XD

Prime Freehold Retail Investment

  • Entirely let to WH Smith Retail Holdings Ltd until 2024 (no breaks)
  • Tenant in occupation since 1954
  • Area Winner of WH Smith’s Store of the Year in 2010 & 2012
  • Prominently situated in an affluent and attractive market town
  • Nearby occupiers include Boots the Chemist, Clarks, Café Nero, Superdrug and Dorothy Perkins
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    45
  • Auction
    22nd October 2015
  • Rent
    £85,600 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,210,000
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of an Investment Trust
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Prime Freehold Retail Investment

  • Entirely let to WH Smith Retail Holdings Ltd until 2024 (no breaks)
  • Tenant in occupation since 1954
  • Area Winner of WH Smith’s Store of the Year in 2010 & 2012
  • Prominently situated in an affluent and attractive market town
  • Nearby occupiers include Boots the Chemist, Clarks, Café Nero, Superdrug and Dorothy Perkins
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 45
  • Auction 22nd October 2015
  • Rent £85,600 per Annum Exclusive
  • Status Sold
  • Price £1,210,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of an Investment Trust

Property Information

Location
Miles
15 miles east of Loughborough, 15 miles north-east of Leicester, 19 miles south-east of Nottingham
Roads
A606, A607, A46, M1 (junction 21a)
Rail
Melton Mowbray Railway Station
Air
East Midlands Airport
Situation

The property is located in the prosperous and historic market town of Melton Mowbray, prominently situated in a prime retail position on the north side of pedestrianised Market Place at its junction with King Street. Nearby occupiers include Boots the Chemist, Clarks, Café Nero, Superdrug and Dorothy Perkins

Tenure

Freehold.

Location
Miles
15 miles east of Loughborough, 15 miles north-east of Leicester, 19 miles south-east of Nottingham
Roads
A606, A607, A46, M1 (junction 21a)
Rail
Melton Mowbray Railway Station
Air
East Midlands Airport
Situation

The property is located in the prosperous and historic market town of Melton Mowbray, prominently situated in a prime retail position on the north side of pedestrianised Market Place at its junction with King Street. Nearby occupiers include Boots the Chemist, Clarks, Café Nero, Superdrug and Dorothy Perkins

Tenure

Freehold.

Description

The property, an attractive Grade II listed building, comprises a substantial retail unit with sales accommodation at both ground and basement level and ancillary accommodation on part first floor. Additional self-contained accommodation on the first and second floors is accessed from a separate entrance on King Street and is currently used as a snooker hall. Immediately adjacent to the unit fronting Market Place is a further ground floor retail unit trading as White Boutique. Both these units are sublet from WH Smith.

Six 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

The property, an attractive Grade II listed building, comprises a substantial retail unit with sales accommodation at both ground and basement level and ancillary accommodation on part first floor. Additional self-contained accommodation on the first and second floors is accessed from a separate entrance on King Street and is currently used as a snooker hall. Immediately adjacent to the unit fronting Market Place is a further ground floor retail unit trading as White Boutique. Both these units are sublet from WH Smith.

Six 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 Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x. Reviews
29/29A Basement
Ground
Part First		 Retail/Ancillary
Retail/Ancillary
Ancillary
249.50 sq m
109.20 sq m
74.30 sq m
(2,685 sq ft)
(1,175 sq ft)
(800 sq ft)
   WH SMITH RETAIL HOLDINGS LTD (1)   Approx. 14 years and 10 months from 14/08/2009 until 16/06/2024 on a full repairing and insuring lease   £85,600   17/06/2019
29A (2) Part First
Second		 Snooker Hall
Snooker Hall
115.70 sq m
135.70 sq m
(1,245 sq ft)
(1,460 sq ft)
29B (3) Ground Retail/Ancillary
27.40 sq m
(295 sq ft)
  Totals  
711.80 sq m
(7,661 sq ft)
     £85,600  

(1) For the year ending 31st August 2014, WH Smith Retail Holdings Ltd reported a turnover of £164,447,000, pre-tax profits of £105,938,000 and a total net worth of £466,645,000. (Source: www.riskdisk.com 15/09/2015)
The first newsagent in the Smith family name opened in 1792, and the company, WH Smith, was created in 1828. With over 600 stores on the high street and over 600 stores at airports, train stations, hospitals and motorway services, WH Smith is one of the UK’s leading retail groups and a household name. Beyond the UK they continue to open stores in airports, railway stations, hospitals and shopping malls across Australia, South East Asia, India and the Middle East. (Source: www.whsmith.co.uk 20/09/2015)
(2) 29A is currently sublet to individuals trading as Melton Snooker Club.
(3) 29B is currently sublet to an individual trading as White Boutique.

Contacts

Seller's Solicitors
Shepherd and Wedderburn LLP Condor House, 10 St. Paul's Churchyard
London
EC4M 8AL
Lauren McLeod 0207 429 4959lauren.mcleod@shepwedd.co.uk

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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