12 Mill Lane, Bromsgrove Bromsgrove Worcestershire B61 8AG

  • 12 Mill Lane, Bromsgrove<br>Bromsgrove<br>Worcestershire<br>B61 8AG

12 Mill Lane, Bromsgrove
Bromsgrove
Worcestershire
B61 8AG

Freehold Retail Investment

  • Let to Iceland Foods Limited on a renewed lease until 2024 (no breaks)
  • Approximately 1,353.40 sq m (14,568 sq ft)
  • Pedestrianised town centre location
  • Nearby occupiers include New Look, Ryman, Vodafone, Costa and Boots the Chemist
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    13
  • Auction
    8th December 2016
  • Rent
    £85,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,080,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • on Behalf of Receivers at Moorfields
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Freehold Retail Investment

  • Let to Iceland Foods Limited on a renewed lease until 2024 (no breaks)
  • Approximately 1,353.40 sq m (14,568 sq ft)
  • Pedestrianised town centre location
  • Nearby occupiers include New Look, Ryman, Vodafone, Costa and Boots the Chemist
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 13
  • Auction 8th December 2016
  • Rent £85,000 per Annum Exclusive
  • Status Sold
  • Price £1,080,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • on Behalf of Receivers at Moorfields

Property Information

Location
Miles
15 miles north-east of Worcester, 15 miles south-west of Birmingham
Roads
A38, A448, M5, M42
Rail
Bromsgrove Railway Station (links to Birmingham New Street and
London Euston)
Air
Birmingham International Airport
Situation

The property is situated on pedestrianised Mill Lane, just off the High Street in the heart of the town centre. Nearby occupiers include New Look, Ryman, Vodafone, Costa and Boots the Chemist. Situated to the rear of the property is an Asda Supermarket and substantial public car park with parking for approximately 350 cars.

Tenure

Freehold.

Location
Miles
15 miles north-east of Worcester, 15 miles south-west of Birmingham
Roads
A38, A448, M5, M42
Rail
Bromsgrove Railway Station (links to Birmingham New Street and
London Euston)
Air
Birmingham International Airport
Situation

The property is situated on pedestrianised Mill Lane, just off the High Street in the heart of the town centre. Nearby occupiers include New Look, Ryman, Vodafone, Costa and Boots the Chemist. Situated to the rear of the property is an Asda Supermarket and substantial public car park with parking for approximately 350 cars.

Tenure

Freehold.

Description

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

VAT

VAT is applicable to this lot.

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.

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 ancillary accommodation on the first floor.

VAT

VAT is applicable to this lot.

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.

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 Review/(Reversion)
Ground
First		 Retail/Ancillary
Ancillary
796.10 sq m
557.30 sq m
(8,569 sq ft)
(5,999 sq ft)
 ICELAND FOODS
LIMITED (1)		 10 years from 13/05/2014 on a full repairing and
insuring lease		 £85,000 (2) 13/05/2019
(12/05/2024)
Totals  
1,353.40 sq m
(14,568 sq ft)
     £85,000  

(1) For the year ending 25/03/2016, Iceland Foods Limited reported a turnover of £2,658,332,000, pre-tax profits of £58,172,000 and a total net worth of £740,354,000 (Source: Experian Group 04/11/2016).
(2) The tenant is currently benefiting from a £21,250 per annum rent concession for the first 5 years of the term. The seller has agreed to adjust the completion monies so that the property will effectively produce £85,000 p.a.x from completion of the sale.

Contacts

Seller's Solicitors
Stephenson Harwood LLP 1 Finsbury Circus
London
EC2M 7SH
Simon Brading 020 7809 2525simon.brading@shlegal.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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