3/5 Bridgegate, Cascades Centre Rotherham Yorkshire S60 1PJ

3/5 Bridgegate, Cascades Centre
Rotherham
Yorkshire
S60 1PJ

Freehold Retail Investment

Let to Post Office Limited on a recently renewed lease
Town centre location and forms part of the Cascades Shopping Centre
Nearby occupiers include McDonald’s, Argos, Superdrug and Co-operative Bank
VAT-free investment

Lot
105
Auction
18th October 2018
Rent
£30,000 per Annum Exclusive
Status
Sold
Price
£290,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment

Let to Post Office Limited on a recently renewed lease
Town centre location and forms part of the Cascades Shopping Centre
Nearby occupiers include McDonald’s, Argos, Superdrug and Co-operative Bank
VAT-free investment

Lot 105
Auction 18th October 2018
Rent £30,000 per Annum Exclusive
Status Sold
Price £290,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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 is situated on Bridgegate, close to its junction with Frederick Street and Bridge Street which provides access from Rotherham rail station to the principal retailing area. The property forms part of Cascades Shopping Centre, which houses occupiers including Superdriug, Argos and Poundworld. Other nearby occupiers include McDonald’s, Wilko and Barclays Bank.

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 a ground floor retail unit with first floor office/ancillary accommodation. The property benefits from an ATM on site.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Description

The property comprises a ground floor retail unit with first floor office/ancillary accommodation. The property benefits from an ATM on site.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground First	Retail/Ancillary Office/Ancillary	213.60 sq m 157.60 sq m	(2,299 sq ft) (1,696 sq ft)	POST OFFICE LIMITED (1)	4 years from 25/12/2017 on a full repairing and insuring lease (2)	£30,000	24/12/2021
Total		371.20 sq m	(3,995 sq ft)			£30,000

(1) For the year ending 26 March 2017, Post Office Limited reported a turnover of £1,037,000,000, pre-tax profits of £306,000,000 and a total net worth of £19,000,000 (Source: Experian Group 29/08/2018). Property trades as Post Office & Stationery by WH Smith.
(2) The lease provides a tenant option to determine on 25/12/2020.