95 - 101 Lord Street Fleetwood Lancashire FY7 6JZ

95 - 101 Lord Street
Fleetwood
Lancashire
FY7 6JZ

Freehold Supermarket Investment

Let to Iceland Foods Limited until February 2030 (no breaks)
2025 tenant break option removed
5 yearly fixed rental increases at 2.5% per annum compounded
Approximately 6,417 sq ft
Nearby occupiers include Pizza Express, Boots the Chemist, Santander and KFC
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
8
Auction
19th May 2016
Rent
£53,742 per Annum Exclusive
Status
Sold
Price
£775,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Supermarket Investment

Let to Iceland Foods Limited until February 2030 (no breaks)
2025 tenant break option removed
5 yearly fixed rental increases at 2.5% per annum compounded
Approximately 6,417 sq ft
Nearby occupiers include Pizza Express, Boots the Chemist, Santander and KFC
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 8
Auction 19th May 2016
Rent £53,742 per Annum Exclusive
Status Sold
Price £775,000
Sector
Supermarket/Convenience
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 8 miles north of Blackpool, 21 miles north-west of Preston, 57 miles north-west of Manchester
Roads: A585, A587, M55
Air: Blackpool Airport

Situation

The property occupies a prominent position on the southern side of Lord Street, between its junctions with Preston Street and London Street, in the heart of Fleetwood town centre. Nearby occupiers include Pizza Express, J D Wetherspoon, Boots the Chemist, KFC and branches of NatWest and Santander banks.

Tenure

Freehold.

Location

Miles: 8 miles north of Blackpool, 21 miles north-west of Preston, 57 miles north-west of Manchester
Roads: A585, A587, M55
Air: Blackpool Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor supermarket with ancillary accommodation on the first floor.

Six Week Completion

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 ancillary accommodation on the first floor.

Six Week Completion

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	Fixed Rental Uplifts/(Reversion)
Ground First	Supermarket/Ancillary Ancillary	453.65 sq m 142.51 sq m	(4,883 sq ft) (1,534 sq ft)	Iceland Foods Limited (1)	25 years from 28/02/2005 on a full repairing and insuring lease	£53,742 rising to £60,804 in Feb 2020 and to £68,794 in Feb 2025	28/02/2020 28/02/2025 (27/02/2030)
Totals		596.16 sq m	(6,417 sq ft)			£53,742

(1) For the year ending 27th March 2015, Iceland Foods Limited reported a turnover of £2,682,021,000, pre-tax profits of £58,794,000 and a total net worth of £709,630,000. (Source: Experian Group 04/04/2016).

NB: Please note that the property is also subject to a lease for an electricity substation for a term of 99 years from 25th December 1961 at a rent of £1 per annum.