Freehold Retail and Residential Investment
Freehold Retail and Residential Investment
The property is situated in Chaddesden, a residential suburb less than 2 miles north-east of Derby city centre. The property lies on the east side of the busy Wiltshire Road. Neighbouring occupiers include Corals, Nisa Extra and Bargain Booze.
Freehold.
The property is situated in Chaddesden, a residential suburb less than 2 miles north-east of Derby city centre. The property lies on the east side of the busy Wiltshire Road. Neighbouring occupiers include Corals, Nisa Extra and Bargain Booze.
Freehold.
The property comprises a ground floor retail unit within a larger block and benefits from car parking to the front of the property. The property was formerly the Blue Boy Hotel and also comprises two other ground floor retail units and three residential flats on the first floor, all of which have been sold on long leases.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a ground floor retail unit within a larger block and benefits from car parking to the front of the property. The property was formerly the Blue Boy Hotel and also comprises two other ground floor retail units and three residential flats on the first floor, all of which have been sold on long leases.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reviews/ (Reversion) |
|
|---|---|---|---|---|---|---|---|
| Ground | Retail | 381.30 sq m |
(4,104 sq ft) |
HERON FOODS LIMITED (1) |
15 years from 9th January 2015 until 2030 (2) |
£45,000 | 09/01/2020 and 09/01/2025. Reviews linked to Retail Price Index. |
| Ground First |
2 x retail units 3 x flats |
Not Measured |
VARIOUS | 5 individual 999 year leases |
£750 (3) | ||
| Total |
381.30 sq m |
(4,104 sq ft) |
£45,750 | ||||
(1) Heron Foods Limited was incorporated in 1978 and currently operates from 250 outlets nationwide. For the year ending 31st December 2016 Heron Foods Limited reported a turnover of £274,440,000, pre-tax profits of £8,727,000 and a total net worth of £34,544,000 (Source: Experian 21/9/2018).
(2) The lease provides for a tenant option to determine the lease on 8th January 2025 subject to 6 months’ notice.
(3) The rent reserved under the terms of each 999 year lease is £150 per annum exclusive.
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