Let to The White Company (U.K.) Limited on a recently renewed lease from July 2020
Re-based rent (previous rent £140,000)
Includes first floor trading accommodation
Recently completed tenant shop improvements including new shop front
Nearby retailers include Waterstones, FatFace, Jack Wills, White Stuff, Molton Brown, Ted Baker, Joules, Boss and Reiss
Lot 23
Auction 25th March 2021
Rent £65,000 per Annum Exclusive
Status Sold
Price £710,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
15 miles north of Loughborough
49 miles north-east of Birmingham
Roads
A60, A610, M1
Rail
Nottingham
Air
Birmingham Airport
Situation
Nottingham, a city located in the East Midlands, is approximately 15 miles north of Loughborough and 49 miles north-east of Birmingham. The city benefits from excellent road links, being less than 10 miles from Junction 25 of the M1 motorway. The property is located in a prominent position on the north side of St Peter's Gate, close to its junction with Bridlesmith Gate. Nearby retailers include Waterstones, FatFace, Jack Wills, White Stuff, Molton Brown, Ted Baker, Joules, Boss and Reiss.
Tenure
Freehold.
Location
Miles
15 miles north of Loughborough
49 miles north-east of Birmingham
Roads
A60, A610, M1
Rail
Nottingham
Air
Birmingham Airport
Situation
Nottingham, a city located in the East Midlands, is approximately 15 miles north of Loughborough and 49 miles north-east of Birmingham. The city benefits from excellent road links, being less than 10 miles from Junction 25 of the M1 motorway. The property is located in a prominent position on the north side of St Peter's Gate, close to its junction with Bridlesmith Gate. Nearby retailers include Waterstones, FatFace, Jack Wills, White Stuff, Molton Brown, Ted Baker, Joules, Boss and Reiss.
Tenure
Freehold.
Description
The property comprises a ground floor shop with further retail accommodation on first floor, and ancillary accommodation on the basement and second floor (accessed via a hatch and disused). At the end of 2020, the tenant completed improvement works to the property including a new shop front and roof improvements at a cost to the tenant in excess of £65,000.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D. See legal pack at www.acuitus.co.uk.
Description
The property comprises a ground floor shop with further retail accommodation on first floor, and ancillary accommodation on the basement and second floor (accessed via a hatch and disused). At the end of 2020, the tenant completed improvement works to the property including a new shop front and roof improvements at a cost to the tenant in excess of £65,000.
5 years from 01/07/2020 until 30/06/2025 (2) on a full repairing and insuring lease (3)
£65,000
Total
544.89 sq m
(5,865 sq ft)
£65,000
(1) For the year ending 3rd August 2019, The White Company (U.K.) Limited reported a turnover of £273,268,000, pre-tax profits of £13,306,000 and shareholders funds of £39,398,000 (source: SmartSearch 02/10/2020). (2) The lease is subject to a tenant option to determine the lease on 31/12/2022, subject to 6 months notice. (3) Please note that the basement and second floors are subject to a Schedule of Condition.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
