2 - 10 Drummond Street (even) & 39 - 47 (odd) Effingham Street Rotherham South Yorkshire S65 1HY

2 - 10 Drummond Street (even) & 39 - 47 (odd) Effingham Street
Rotherham
South Yorkshire
S65 1HY

Freehold Retail Parade Investment

Comprises 11 ground floor retail units with residential uppers (let on a long lease)
Prominent corner position on pedestrianised Effingham Street
Adjacent to Tesco Extra
Nearby occupiers include Boots the Chemist, Poundworld, NatWest and Argos

Lot
36
Auction
24th May 2018
Rent
£99,500 per Annum Exclusive
Status
Sold
Price
£800,000
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 Parade Investment

Comprises 11 ground floor retail units with residential uppers (let on a long lease)
Prominent corner position on pedestrianised Effingham Street
Adjacent to Tesco Extra
Nearby occupiers include Boots the Chemist, Poundworld, NatWest and Argos

Lot 36
Auction 24th May 2018
Rent £99,500 per Annum Exclusive
Status Sold
Price £800,000
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: 8 miles north-east of Sheffield; 3 miles south of Leeds
Roads: A629, A630, M1 (Junction 34)
Rail: Rotherham Central Rail Station
Air: Robin Hood Airport Doncaster Sheffield; Leeds Bradford International Airport

Situation

The property occupies a prominent corner position on Drummond Street at its junction with Effingham Street, one of the town’s principal retailing thoroughfares. The property is adjacent to Tesco Extra and Effingham Square, which hosts part of Rotherham’s street market. The pedestrianised Effingham Street is home to occupiers including Boots Chemist, Poundworld, NatWest and Argos.

Tenure

Freehold.

Location

Miles: 8 miles north-east of Sheffield; 3 miles south of Leeds
Roads: A629, A630, M1 (Junction 34)
Rail: Rotherham Central Rail Station
Air: Robin Hood Airport Doncaster Sheffield; Leeds Bradford International Airport

Situation

Tenure

Freehold.

Description

The property comprises 11 ground floor retail units with residential accommodation on first floors which have been let on a long lease.

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 11 ground floor retail units with residential accommodation on first floors which have been let on a long lease.

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	Reviews/ (Reversion)
10 Drummond Street	Ground	Retail	59.82 sq m	(644 sq ft)	AGE CONCERN ROTHERHAM LTD t/a Age UK	12 years from 28/08/2015 (1)	£10,500	28/08/2018 (27/08/2027)
8 Drummond Street	Ground	Retail	44.59 sq m	(480 sq ft)	INDIVIDUAL t/a Superfry Fish & Chips	6 years from 18/07/2015 (2)	£8,750	18/07/2018 (17/07/2021)
6 Drummond Street	Ground	Retail	45.98 sq m	(495 sq ft)	VACANT POSSESSION
4 Drummond Street	Ground	Retail	45.89 sq m	(494 sq ft)	INDIVIDUAL t/a Lily Nails	10 years from 08/08/2015 (3)	£9,500	08/08/2020 (07/08/2025)
2 Drummond Street	Ground	Retail	100.98 sq m	(1,087 sq ft)	EED (YORKSHIRE) LIMITED t/a 7 Day Store	15 years from 04/02/2015 until 03/02/2030 (4)	£15,000	04/02/2020 5 yearly
47 Effingham Square	Ground	Retail	23.50 sq m	(253 sq ft)	INDIVIDUAL t/a Sol Tattoo Parlour	3 years from 14/03/2017	£6,000	Fixed rental uplift to £6,500 on 14/03/2019
45 Effingham Square	Ground	Retail	45.24 sq m	(487 sq ft)	INDIVIDUAL t/a MJ News & Sweets	9 years from 01/04/2006	£9,250	(31/03/2015) Holding over
43 Effingham Square	Ground	Retail	46.07 sq m	(496 sq ft)	INDIVIDUAL t/a Phones R Us	5 years from 01/03/2014	£8,000	(28/02/2019)
41 Effingham Square	Ground	Retail	71.90 sq m	(774 sq ft)	INDIVIDUAL t/a Vapour Waves	5 years from 13/06/2016 (5)	£9,500	(12/06/2021)
39 Effingham Square	Ground	Retail	71.90 sq m	(774 sq ft)	STANIFORTHS (RAWMARSH) BAKERY LTD t/a Staniforths Bakery	15 years from 09/11/2005	£16,000	09/11/2014 (Outstanding) (08/11/2020)
76 Effingham Street	Ground	Retail	36.13 sq m	(389 sq ft)	INDIVIDUAL t/a Speedy Shoe Service	10 years from 25/03/2015	£7,000	25/03/2020 (24/03/2025)
Units 1 & 2nd Flr Drummond Street	First & Second Floors	Residential	Not measured		THE GUINESS PARTNERSHIP LIMITED	200 years 25/03/1990	Peppercorn	(24/03/2190)
Total Commercial Area:			592.00 sq m	(6,373 sq ft)			£99,500

(1) The tenant has served notice to exercise their 28/08/2018 option to determine. There have been ongoing discussions with the tenant to agree new terms - please refer to the legal pack for further information.
(2) The tenant did not exercise their 18/07/2018 option to determine and the notice period has now passed.
(3) The lease provides an option to determine on 08/08/2020.
(4) The lease provides an option to determine on 31/12/2020 and 31/12/2025.
(5) The lease provides an option to determine on 13/06/2019.