Fixed rental increase in June 2020 and five yearly thereafter
Established out of town retail location close to The Point Retail Park
Approximately 13,986 sq ft with good customer car parking
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 20
Auction 7th July 2016
Rent £226,281 per Annum Exclusive
Status Sold
Price £3,700,000
Sector Supermarket/Convenience
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
14 miles north of Manchester, 35 miles south-west of Leeds
Roads
A627, A671, M60, M62 (Junction 20)
Rail
Rochdale Railway Station
Air
Manchester Airport
Situation
The property is situated at the corner of Entwisle Road (B6266) and Molesworth Street (A671), in an established out of town retail location. The Point Retail Park is located nearby, housing retailers including TK Maxx and Home Bargains. Both The Wheatsheaf Shopping Centre (0.5 miles) and Rochdale Exchange Shopping Centre (0.6 miles) in Rochdale town centre are located close by, housing occupiers including Wilko, Peacocks, Poundworld, Marks & Spencer and Home Bargains. Also located close by are Mitsubishi and Kia car showrooms and a Mecca Bingo.
Tenure
Long Leasehold. Held for a term of 125 years from 28th July 1989 from The Rochdale Borough Council at a peppercorn rent.
Location
Miles
14 miles north of Manchester, 35 miles south-west of Leeds
Roads
A627, A671, M60, M62 (Junction 20)
Rail
Rochdale Railway Station
Air
Manchester Airport
Situation
The property is situated at the corner of Entwisle Road (B6266) and Molesworth Street (A671), in an established out of town retail location. The Point Retail Park is located nearby, housing retailers including TK Maxx and Home Bargains. Both The Wheatsheaf Shopping Centre (0.5 miles) and Rochdale Exchange Shopping Centre (0.6 miles) in Rochdale town centre are located close by, housing occupiers including Wilko, Peacocks, Poundworld, Marks & Spencer and Home Bargains. Also located close by are Mitsubishi and Kia car showrooms and a Mecca Bingo.
Tenure
Long Leasehold. Held for a term of 125 years from 28th July 1989 from The Rochdale Borough Council at a peppercorn rent.
Description
The property comprises a ground floor supermarket with customer car parking for about 100 cars.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor supermarket with customer car parking for about 100 cars.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
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
Supermarket
1299.30 sq m
(13,986 sq ft)
ALDI STORES LIMITED (1)
20 years from 24/06/2010 (2) on a full repairing and insuring lease
£226,281 rising to £256,015 in June 2020 and to £289,656 in June 2025
24/06/2020 24/06/2025 (23/06/2030)
Totals
1299.30 sq m
(13,986 sq ft)
£226,281
(1) For the year ending 31st December 2014, Aldi Stores Limited reported a turnover of £6,893,256,000, pre-tax profits of £250,584,000 and a total net worth of £1,948,445,000 (Source: Experian Group 09/06/2016) (2) The lease is subject to a tenant only option to determine on 24th June 2025, subject to not less than 6 months prior written notice.
