Daniel Owen Shopping Centre High Street & New Street Mold Flintshire CH7 1AZ

Daniel Owen Shopping Centre
High Street & New Street
Mold
Flintshire
CH7 1AZ

Freehold Shopping Centre Ground Rent Investment

Entirely let for 150 years until December 2151 (approximately 135 years unexpired) - No breaks
Ground Rent Reviewed annually to fixed “basic rent” plus geared “additional rent” provision (2)
Potential to improve “additional rent” with new lettings and rent reviews
Strategic and major part of the town centre
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
35
Auction
7th July 2016
Rent
£43,291 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

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Freehold Shopping Centre Ground Rent Investment

Entirely let for 150 years until December 2151 (approximately 135 years unexpired) - No breaks
Ground Rent Reviewed annually to fixed “basic rent” plus geared “additional rent” provision (2)
Potential to improve “additional rent” with new lettings and rent reviews
Strategic and major part of the town centre
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 35
Auction 7th July 2016
Rent £43,291 per Annum Exclusive
Status Sold Prior
Price
Sector
Ground Rent
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

Property Information

Location

Miles: 13 miles west of Chester, 13 miles north-west of Wrexham, 23 miles south-west of Liverpool
Roads: A494, A541, A5119
Air: Liverpool John Lennon Airport

Situation

The property is situated in the heart of the town centre, benefiting from entrances from both High Street and New Street and close to The Cross, one of the main retail thoroughfares in the town. Nearby occupiers include Boots the Chemist, Costa, Card Factory, Greggs and branches of HSBC, Lloyds and Halifax banks.

Tenure

Freehold.

Location

Miles: 13 miles west of Chester, 13 miles north-west of Wrexham, 23 miles south-west of Liverpool
Roads: A494, A541, A5119
Air: Liverpool John Lennon Airport

Situation

Tenure

Freehold.

Description

The property comprises a purpose built open shopping centre, containing 23 retail units, a number of market stalls, a kiosk and an office.

VAT

VAT is not 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 purpose built open shopping centre, containing 23 retail units, a number of market stalls, a kiosk and an office.

VAT

VAT is not 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	Reviews
Ground First	Retail/Market Stalls/Ancillary Offices/Ancillary	3,094.13 sq m 2,204.69 sq m	(33,305 sq ft) (23,731 sq ft)	DEVMOORE LIMITED AND MOLD PROPERTIES LIMITED (1)	150 years from 25/12/2002 on a full repairing and insuring basis until 24/12/2152	£43,291.38	25/12/2016 and annually thereafter (2)
Totals		5,298.82 sq m	(57,036 sq ft) (3)			£43,291.38

(1) The entire property is sublet to a number of occupational lessees including tenants trading as Argos, Poundstretcher and Peacocks.
(2) The ground rent is reviewed annually to £32,397 per annum (“Basic Rent”) plus a geared “Additional Rent” (Calculated as 8% of the net occupational rents less the Basic Rent). For the year to 24/12/2015, the net occupational rents collected were £541,142.26 per annum and therefore the current ground rent payable in 2016 is £43,291.38 per annum.
(3) Areas provided by VOA.