Prominent town centre location in affluent market town
Located on prime pedestrianised retail thoroughfare
Approximately 40 metres from the Market Shopping Centre
Nearby occupiers include Marks & Spencer, Boots the Chemist, Greggs, Toni & Guy and T-Mobile
Six Week Completion Period Available
Rent rising to a minimum of £50,121 in 2016
Lot 17
Auction 7th July 2011
Rent £44,300 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
15 miles north-west of Stoke-on-Trent, 36 miles south of Manchester, 47 miles south-east of Liverpool
Rail
Crewe Rail Station
Roads
A530, A534, A500, M6 (Junction 16)
Air
Manchester International Airport
Situation
The property is prominently situated in Crewe town centre on the western side of Market Street, one of the town's prime pedestrianised thoroughfares. The property benefits from its proximity to the Market Shopping Centre which houses occupiers such as River Island, Dorothy Perkins, Clinton Cards, Clarks and Superdrug. Other nearby occupiers include Marks & Spencer, Boots the Chemist, Greggs, Toni & Guy and T-Mobile.
Tenure
Freehold.
Location
Miles
15 miles north-west of Stoke-on-Trent, 36 miles south of Manchester, 47 miles south-east of Liverpool
Rail
Crewe Rail Station
Roads
A530, A534, A500, M6 (Junction 16)
Air
Manchester International Airport
Situation
The property is prominently situated in Crewe town centre on the western side of Market Street, one of the town's prime pedestrianised thoroughfares. The property benefits from its proximity to the Market Shopping Centre which houses occupiers such as River Island, Dorothy Perkins, Clinton Cards, Clarks and Superdrug. Other nearby occupiers include Marks & Spencer, Boots the Chemist, Greggs, Toni & Guy and T-Mobile.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with ancillary accommodation on first floor. The property benefits from a yard to the rear.
VAT
VAT is not applicable to this lot.
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 ancillary accommodation on first floor. The property benefits from a yard to the rear.
VAT
VAT is not applicable to this lot.
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
Reviews
Ground First
Retail/Ancillary Ancillary
119.79 sq m 98.55 sq m
(1,288 sq ft) (1,061 sq ft)
CORAL RACING LIMITED (t/a Coral) (1)
16 years from 03/02/2011 until 02/02/2027 on a full repairing and insuring lease
£44,300
25/03/2016 and 25/03/2021 (2)
Totals
218.34 sq m
(2,349 sq ft)
£44,300
(1) Coral Racing Limited, the third largest bookmakers in the UK, is the principal trading company behind the Gala Coral Group. The Group operates almost 1,634 licensed betting offices, 144 bingo clubs, 27 casinos, 2 greyhound stadia, a UK telephone betting business and an online gambling business employing over 19,000 people across its trading divisions. (Source: www.galacoral.co.uk 07/06/2011). (2) Under the terms of the lease, the rent will be reviewed to the higher of open market rental value or 2.5% per annum compound. Therefore the minimum fixed rental increases will be £50,121 p.a.x. in 2016 and £56,708 p.a.x. in 2021.
Contacts
Seller's Solicitors
Wallace LLP 1 Portland Place London W1B 1PN +44 (0)20 7636 3736
