Castlegate House, 12-18 and 20-22 Haymarket 4-12 Dixon Lane Sheffield South Yorkshire S1 2AX

  • Castlegate House, 12-18 and 20-22 Haymarket<br>4-12 Dixon Lane<br>Sheffield<br>South Yorkshire<br>S1 2AX

Castlegate House, 12-18 and 20-22 Haymarket
4-12 Dixon Lane
Sheffield
South Yorkshire
S1 2AX

City Centre Retail Investment

  • Entirely let to BHS Properties Limited until 2065 and Frozen Value Limited until 2023
  • Totalling approximately 9,222.62 sq m (99,275 sq ft) on a site area of approximately 0.44 hectares (1.09 acres)
  • Busy city centre location
  • Nearby occupiers include Savers, Heron Foods, Wilko, Primark, Argos and 99p Stores
  • Future redevelopment potential (subject to leases and consents)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    7
  • Auction
    11th February 2016
  • Rent
    £531,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £3,345,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of LPA Receivers
  • Expand
  • Photos
  • Map

City Centre Retail Investment

  • Entirely let to BHS Properties Limited until 2065 and Frozen Value Limited until 2023
  • Totalling approximately 9,222.62 sq m (99,275 sq ft) on a site area of approximately 0.44 hectares (1.09 acres)
  • Busy city centre location
  • Nearby occupiers include Savers, Heron Foods, Wilko, Primark, Argos and 99p Stores
  • Future redevelopment potential (subject to leases and consents)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 7
  • Auction 11th February 2016
  • Rent £531,000 per Annum Exclusive
  • Status Sold
  • Price £3,345,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of LPA Receivers

Property Information

Location
Miles
22 miles west of Doncaster, 33 miles south of Leeds, 38 miles east of Manchester
Roads
A61, A57, A361, A360, M1 (Junction 33 & 34)
Rail
Sheffield Railway Station
Air
Robin Hood Doncaster Sheffield Airport, Manchester Airport
Situation

The property is prominently situated in the popular University City of Sheffield, on the east side of Haymarket at its junction with Dixon Lane in the heart of the City Centre. Nearby occupiers include Savers, Heron Foods, Wilko, Primark, Argos and 99p Stores. Additionally, the property benefits from being located close to the Sheffield Tram Network. The area forms part of the Castlegate Master Plan and Vision approved at Cabinet in March 2006. The plan provides a vision for the quarter, and will be used by Sheffield Council to guide future development. Castlegate will become a new destination for offices, homes, leisure, entertainment and retail uses, with a high quality public realm of riverside terraces and public spaces celebrating Sheffield’s history. (www.sheffield.gov.uk)

Tenure

Freehold. And part leasehold. The leasehold interest is described as part of an electricity sub-station on the south side of Dixon Lane and is held for a term of 150 years from 29th September 1964.

Location
Miles
22 miles west of Doncaster, 33 miles south of Leeds, 38 miles east of Manchester
Roads
A61, A57, A361, A360, M1 (Junction 33 & 34)
Rail
Sheffield Railway Station
Air
Robin Hood Doncaster Sheffield Airport, Manchester Airport
Situation

The property is prominently situated in the popular University City of Sheffield, on the east side of Haymarket at its junction with Dixon Lane in the heart of the City Centre. Nearby occupiers include Savers, Heron Foods, Wilko, Primark, Argos and 99p Stores. Additionally, the property benefits from being located close to the Sheffield Tram Network. The area forms part of the Castlegate Master Plan and Vision approved at Cabinet in March 2006. The plan provides a vision for the quarter, and will be used by Sheffield Council to guide future development. Castlegate will become a new destination for offices, homes, leisure, entertainment and retail uses, with a high quality public realm of riverside terraces and public spaces celebrating Sheffield’s history. (www.sheffield.gov.uk)

Tenure

Freehold. And part leasehold. The leasehold interest is described as part of an electricity sub-station on the south side of Dixon Lane and is held for a term of 150 years from 29th September 1964.

Description

The property comprises a former BHS Department Store. The ground and lower ground floors of 12-18 Haymarket are now occupied by B & M Bargains and used for retail and storage. The first, second and third floors are not currently in use. 12-18 Haymarket benefits from 2 x goods lifts, former passenger lift (decommissioned) and a shared loading bay with 20-22 Haymarket.
20-22 Haymarket comprises a ground and lower ground floor retail unit with first floor staff and storage accommodation. The second floor has been stripped back to shell condition and is not currently in use. The ground floor is currently trading as Fultons Foods, with storage to the rear. A rear door provides access to the loading bay shared with 12-18 Haymarket. The lower ground floor is accessed from an entrance fronting Haymarket, with stairs leading down to the sales area and currently used by Ladbrokes as a betting office. There is a secondary entrance from Dixon Lane.

Six Week Completion

Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

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 former BHS Department Store. The ground and lower ground floors of 12-18 Haymarket are now occupied by B & M Bargains and used for retail and storage. The first, second and third floors are not currently in use. 12-18 Haymarket benefits from 2 x goods lifts, former passenger lift (decommissioned) and a shared loading bay with 20-22 Haymarket.
20-22 Haymarket comprises a ground and lower ground floor retail unit with first floor staff and storage accommodation. The second floor has been stripped back to shell condition and is not currently in use. The ground floor is currently trading as Fultons Foods, with storage to the rear. A rear door provides access to the loading bay shared with 12-18 Haymarket. The lower ground floor is accessed from an entrance fronting Haymarket, with stairs leading down to the sales area and currently used by Ladbrokes as a betting office. There is a secondary entrance from Dixon Lane.

Six Week Completion

Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

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
12-18
Haymarket
Lower Ground (B & M)
Ground (B & M)
Ground
First
Second
Third
Fourth
Fifth (Roof)
Storage
Retail
Plant
Retail
Storage
Ancillary
Plant
Plant
1,589.24 sq m
1,611.00 sq m
25.17 sq m
1,521.22 sq m
1,502.43 sq m
1,433.31 sq m
489.49 sq m
No Access
(17,106 sq ft)
(17,341 sq ft)
(271 sq ft)
(16,374 sq ft)
(16,172 sq ft)
(15,428 sq ft)
(5,269 sq ft)
BHS PROPERTIES
LIMITED (1) (2)
99 years from
25/12/1966 until
24/12/2065 on a full
repairing and insuring
lease
£430,000 25/12/2029
25/12/2050
20-22
Haymarket
Ground (Fultons Foods)
First (Fultons Foods)
Second
Lower Ground (Ladbrokes)
Retail/Storage
Ancillary/Storage

Retail
255.33 sq m
244.66 sq m
299.59 sq m
251.18 sq m
(2,748 sq ft)
(2,633 sq ft)
(3,225 sq ft)
(2,708 sq ft)
FROZEN VALUE
LIMITED (3)
(t/a Fultons Foods)
guaranteed by
Viewtone Trading
Group Limited (4) (5)
10 years from
28/06/2013 until
27/06/2023
£101,000 28/12/2018
Totals    
9,222.62 sq m
(99,275 sq ft)
    £531,000

(1) For the year ending 30th August 2014, BHS Properties Limited reported a turnover of £20,371,000, pre-tax profits of £1,409,000 and a total net worth of £44,016,000. (Source: Experian Group 15/01/2016). BHS Properties Limited and BHS Limited are subsidiaries of BHS Group Limited. BHS has a portfolio of over 171 store sites throughout the UK. In addition BHS.co.uk has 5 million unique users per month and hosts 15,000 product lines with approximately 200,000 orders a month delivered throughout the UK. BHS employs 11,000 staff.
(2) Entirely sublet to BHS Limited for 35 years from 25th December 1987 until 24th December 2022. The lower ground and ground floor has been sub underlet to B&M Retail Limited for 10 years from 28th June 2010 until 27th June 2020. The entrance area is also sub-underlet to B&M Retail Limited at a peppercorn rent until 27th June 2020. The total current sub under rent to B&M Retail Limited is understood to be £180,000 p.a.x. For the year ending 28th March 2015, B&M Retail Limited reported a turnover of £1,526,181,000, pre-tax profits of £151,063,000 and a net worth of £333,599,000. (Source: Experian Group 15/01/2016)
(3) For the year ending 31/01/2015, Frozen Value Limited reported a turnover of £64,112,000, pre-tax profits of £1,726,000 and a total net worth of £10,205,000. (Source: Experian Group 15/01/2016)
(4) For the year ending 31/01/2015, Viewtone Trading Group Limited reported a turnover of £64,112,000, pre-tax profits of £1,155,000 and a total net worth of £351,000. (Source: Experian Group 15/01/2016)
(5) The lower ground has been sublet to Ladbrokes Betting & Gaming Limited for a term of 10 years less 3 days from 28th June 2013 until 24th June 2023. The current sub rent is £26,000 p.a.x. For the year ending 31st December 2014, Ladbrokes Betting & Gaming Limited reported a turnover of £824,322,000, pre-tax profits of £57,141,000 and a total net worth of £1,096,567,000. (Source: Experian Group 15/01/2016)

Property Documents

  • Site Plan
    Updated Date
    30.10.19
    File Size
    84 KB
    View PDF
  • Catalogue Page
    Updated Date
    30.10.19
    File Size
    861 KB
    View PDF
  • Common Auction conditions
    Updated Date
    20.05.24
    File Size
    620 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Olswang LLP 90 High Holborn
London
WC1V 6XX
Stephen Baker 0207 071 7339stephen.baker@olswang.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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