Modern Freehold Convenience Store Investment
Modern Freehold Convenience Store Investment
The property is prominently situated just off the Huddersfield Road in close proximity to the town centre.
Freehold.
The property is prominently situated just off the Huddersfield Road in close proximity to the town centre.
Freehold.
The property comprises a freestanding convenience store with frontages to both Huddersfield Road and South Lane. The property benefits from a glazed frontage facing the car park with approximately 75 car parking spaces. The site has an area of approximately 0.54 hectares (1.33 acres).
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a freestanding convenience store with frontages to both Huddersfield Road and South Lane. The property benefits from a glazed frontage facing the car park with approximately 75 car parking spaces. The site has an area of approximately 0.54 hectares (1.33 acres).
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|
| Ground | Retail | 1,054 sq m |
(11,346 sq ft) |
LINEBUSH VI LTD (guaranteed by MILLS GROUP PLC) (1) |
25 years from 30/01/2010 until 2035 on a full repairing and insuring lease | £85,000 (2) | 2014 and annually thereafter (3) |
| Totals | 1,054 sq m |
(11,346 sq ft) |
£85,000 | ||||
(1) For the year ending 31st January 2009 Mills Group Holdings reported a turnover of £10,294,000, pre-tax profits of £213,000 and a net worth of £1,193,000.(2) The current rent reserved is £65,000 p.a.x. Under the terms of the lease there will be a minimum rental increase to £85,000 p.a.x. on 30th January 2012. The vendor will pay the buyer the difference between the current rent reserved of £65,000 p.a.x. and £85,000 p.a.x. from completion of the sale until thisdate. As a result the property will produce an income of £85,000 p.a.x.(3) Rent reviews are linked to RPI (minimum 2%, maximum 4%).
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