Entirely let to Tesco Stores Limited until 2031 (subject to option)
Located in popular Sheffield suburb
Minimum RPI linked rental uplifts with rent rising to a minimum of £55,398 p.a. in 2021 and £58,224 p.a in 2026 (3)
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 12
Auction 25th May 2017
Rent £52,709 per Annum Exclusive
Status Sold
Price £837,000
Sector Supermarket/Convenience
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
3 miles north west of Sheffield City Centre
Roads
A61, M1 (Junction 34)
Rail
Hillsborough Park (Sheffield Supertram)
Air
Doncaster Sheffield Airport
Situation
The property is located less than 3 miles north west of Sheffield city centre, occupying a prominent position on Dykes Hall Road just north of its junction with Middlewood Road, Wadsley's main retailing pitch. Wadsley benefits from strong transport links to the City Centre via the A61 and the Sheffield Supertram. The surrounding area is predominantly residential with William Hill and a few local retailers also located nearby.
Tenure
Freehold.
Location
Miles
3 miles north west of Sheffield City Centre
Roads
A61, M1 (Junction 34)
Rail
Hillsborough Park (Sheffield Supertram)
Air
Doncaster Sheffield Airport
Situation
The property is located less than 3 miles north west of Sheffield city centre, occupying a prominent position on Dykes Hall Road just north of its junction with Middlewood Road, Wadsley's main retailing pitch. Wadsley benefits from strong transport links to the City Centre via the A61 and the Sheffield Supertram. The surrounding area is predominantly residential with William Hill and a few local retailers also located nearby.
Tenure
Freehold.
Description
The property comprises a ground floor convenience store with ancillary accommodation at first floor and benefits from an onsite ATM. The property benefits from a site area of approximately 0.084 hectares (0.21 acres), providing parking for approximately 7 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 convenience store with ancillary accommodation at first floor and benefits from an onsite ATM. The property benefits from a site area of approximately 0.084 hectares (0.21 acres), providing parking for approximately 7 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
Reviews
Ground First
Convenience Store Ancillary/Office
340.57 sq m 35.30 sq m
(3,666 sq ft) (380 sq ft)
TESCO STORES LIMITED (1)
20 years from 26/01/2011 until 25/01/2031 on a full repairing and insuring lease (2)
£52,709
26/01/2021 26/01/2026 (3)
Total
375.87 sq m
(4,046 sq ft)
£52,709
(1) Tesco is one of the largest supermarket chains in the UK, with over 3,500 stores and over 310,000 employees. (Source: www.tescoplc.com 25/04/2017) (2) The lease provides an option to determine on 26/01/2021. (3) The rent reviews are linked to the Retail Price Index to a minimum of 1% and a maximum of 4% compounded per annum. The rent will therefore increase to a minimum of £55,397.69 pa in January 2021 and £58,223.53 pa in January 2026.
Contacts
Seller's Solicitors
Rooks Rider Challoner House, 19 Clerkenwell Close London EC1R 0RR 0207 689 7001
