10 Portland Walk Barrow-In-Furness Cumbria LA14 1DB

10 Portland Walk
Barrow-In-Furness
Cumbria
LA14 1DB

Freehold Retail Investment

Let to Top Shop/Top Man Properties Limited t/a Topshop on a new 5 year lease (subject to option)
Forms part of Portland Walk Shopping Centre
Nearby occupiers include Debenhams, Boots, New Look, JD Sports and Clarks

Lot
90
Auction
19th October 2017
Rent
£40,000 per Annum Exclusive
Status
Sold
Price
£392,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of a Major Fund Manager

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Freehold Retail Investment

Let to Top Shop/Top Man Properties Limited t/a Topshop on a new 5 year lease (subject to option)
Forms part of Portland Walk Shopping Centre
Nearby occupiers include Debenhams, Boots, New Look, JD Sports and Clarks

Lot 90
Auction 19th October 2017
Rent £40,000 per Annum Exclusive
Status Sold
Price £392,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of a Major Fund Manager

Property Information

Location

Miles: 67 miles north of Preston, 71 miles south of Carlisle, 97 miles north-west of Leeds
Roads: A590, A595, M6 (Junction 36)
Rail: Barrow-in-Furness Railway Station
Air: Manchester Airport

Situation

Barrow-in-Furness is a large port town in west Cumbria and is a key commercial hub in the North West outside of the major cities. The property is located within the heart of the town centre, occupying a prominent corner position in Portland Walk Shopping Centre. The centre is home to occupiers including Debenhams, Boots, New Look, JD Sports and Clarks. Other nearby occupiers include The Forum Theatre and Barrow Market Hall, which hosts a market four days a week.

Tenure

Freehold.

Location

Miles: 67 miles north of Preston, 71 miles south of Carlisle, 97 miles north-west of Leeds
Roads: A590, A595, M6 (Junction 36)
Rail: Barrow-in-Furness Railway Station
Air: Manchester Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with first floor ancillary accommodation.

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 retail unit with first floor ancillary accommodation.

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	Reversion
Ground First	Retail Ancillary	257.5 sq m 230.3 sq m	(2,771 sq ft) (2,478 sq ft)	TOP SHOP/TOP MAN PROPERTIES LIMITED guaranteed by Redcastle Limited t/a Topshop (1)	5 years from 01/06/2017 on a full repairing and insuring lease (2)	£40,000	31/05/2022
Total		487.8 sq m	(5,250 sq ft)			£40,000

(1) Topshop & Topman form part of the Arcadia Group and have over 300 UK stores and more than 130 around the world (Source: topshop.com 22/09/2017).
(2) The tenant is currently benefitting from a rent free period due to expire on 01/12/2017. The seller has agreed to adjust the completion monies so the unit will effectively produce £40,000 from the completion of sale. The lease provides an option to determine on 01/06/2020, if this option is not exercised the tenant will benefit from 3 months rent free.