32 - 36b West Gate Mansfield Nottingham NG18 1RS

32 - 36b West Gate
Mansfield
Nottingham
NG18 1RS

Freehold Retail Investment & Development Opportunity

Substantial town centre building comprising approximately 56,136 sq ft on 0.62 acre site
Part let to C & J Clark International Limited (in occupation for nearly 30 years)
Potential to redevelop former BHS variety store - with change of use opportunities (subject to consents)
Directly opposite main entrance to Four Seasons Shopping Centre - close to Primark and Marks & Spencer

Lot
25
Auction
13th July 2017
Rent
£84,000 per Annum Exclusive
Status
Sold
Price
£1,860,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment & Development Opportunity

Substantial town centre building comprising approximately 56,136 sq ft on 0.62 acre site
Part let to C & J Clark International Limited (in occupation for nearly 30 years)
Potential to redevelop former BHS variety store - with change of use opportunities (subject to consents)
Directly opposite main entrance to Four Seasons Shopping Centre - close to Primark and Marks & Spencer

Lot 25
Auction 13th July 2017
Rent £84,000 per Annum Exclusive
Status Sold
Price £1,860,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 11 miles south-east of Chesterfield, 17 miles north of Nottingham
Roads: A38, A60, A617, M1
Rail: Mansfield Railway Station
Air: East Midlands Airport

Situation

The property is situated on the northern side of the pedestrianised section of West Gate, immediately opposite the East Mall entrance to Four Seasons Shopping Centre. Four Seasons Shopping Centre houses retailers including Boots the Chemist, Debenhams, Primark, Topman/Topshop, JD Sports and WH Smith. Other nearby occupiers include Marks & Spencer, Costa, New Look and branches of HSBC, Barclays and Halifax banks.

Tenure

Freehold.

Location

Miles: 11 miles south-east of Chesterfield, 17 miles north of Nottingham
Roads: A38, A60, A617, M1
Rail: Mansfield Railway Station
Air: East Midlands Airport

Situation

Tenure

Freehold.

Description

The property comprises a purpose built former department store arranged on the ground, first, second and third floors with a substantial loading bay and service yard area to the rear, together with a separate self-contained shop arranged on the ground floor only.

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

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

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
32-34 (Former BHS)	Ground First Second Third	Retail Retail Ancillary Plant	1,239.70 sq m 1,595.33 sq m 1,477.34 sq m 547.27 sq m	(13,344 sq ft) (17,172 sq ft) (15,902 sq ft) (5,891 sq ft)	VACANT	-	-	-
36B (C & J - Clarks)	Ground	Retail/ Ancillary	355.54 sq m	(3,827 sq ft)	C & J CLARK INTERNATIONAL LIMITED (1)	10 years from 25/11/2012 on a full repairing and insuring lease	£84,000	25/11/2017 (24/11/2022)
Totals			5,215.18 sq m	(56,136 sq ft)			£84,000

(1) For the year ending 31st January 2017, C & J Clark International Limited reported a turnover of £885,600,000, pre-tax profits of £36,400,000 and a total net worth of £331,800,000 (Source: Experian Group 05/06/2017).