Entirely 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 12,003 sq ft
Nearby occupiers include Heron Foods, Santander, Home Bargains and Subway
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 47
Auction 19th May 2016
Rent £112,215 per Annum Exclusive
Status Withdrawn Post
Price
Sector Supermarket/Convenience
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
4 miles north-east of Liverpool City Centre, 31 miles west of Manchester
Roads
A59, A565, A580, M57
Rail
Orrell Park Railway Station
Air
Liverpool John Lennon Airport
Situation
The property occupies a prominent position on the southern side of Walton Vale, between its junctions with Regina Road and Park Vale Road. Nearby occupiers include Heron Foods, Greggs, Home Bargains, Subway with Tesco Supermarket and branches of Halifax, Lloyds and NatWest banks also located in the vicinity. Orrell Park Railway Station is located close-by.
Tenure
Freehold.
Location
Miles
4 miles north-east of Liverpool City Centre, 31 miles west of Manchester
Roads
A59, A565, A580, M57
Rail
Orrell Park Railway Station
Air
Liverpool John Lennon Airport
Situation
The property occupies a prominent position on the southern side of Walton Vale, between its junctions with Regina Road and Park Vale Road. Nearby occupiers include Heron Foods, Greggs, Home Bargains, Subway with Tesco Supermarket and branches of Halifax, Lloyds and NatWest banks also located in the vicinity. Orrell Park Railway Station is located close-by.
Tenure
Freehold.
Description
The property comprises an unbroken retail parade comprising a supermarket and two shops.
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 an unbroken retail parade comprising a supermarket and two shops.
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
Review (Reversion)
Ground First
Supermarket/Ancillary Ancillary (2)
646.82 sq m –
(6,963 sq ft) (-)
ICELAND FOODS LIMITED (1)
25 years from 28/02/2005 until 27/02/2030 on a full repairing and insuring lease
£112,215 rising to £126,961 in Feb 2020 and to £143,645 in Feb 2025
(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). 28 Walton Vale is currently sublet to Funeral Services Limited on a sublease expiring in August 2021 (and a tenant break option in August 2016) at a sublet rent of £13,500 per annum. 36 Walton Vale ground is sublet to Poundfever Limited on a sublease expiring in May 2018 at a sublet rent of £30,000 per annum. (2) The first floor accommodation above the Poundfever unit is let to but not used by Iceland. The auctioneers were unable to access this accommodation.
