2 Paradise Street Liverpool L1 8JF

2 Paradise Street
Liverpool
L1 8JF

Highly Reversionary Freehold Ground Rent Investment

Prime retail unit in heart of the City Centre comprising 658 sq m (7,086 sq ft)
Let to Vabeld Uk Ltd with 166 years unexpired
Currently sublet to Bank of Scotland plc t/a Halifax at a subrent of £475,000 pa.
Nearby occupiers include Metro Bank, HSBC, J D Sports, Boots, Starbucks Coffee, Vodafone and McDonald's.

Lot
2
Auction
25th March 2021
Status
Withdrawn Prior
Price
Auction Venue
Live Streamed Auction
On Behalf of Liverpool City Council

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Highly Reversionary Freehold Ground Rent Investment

Prime retail unit in heart of the City Centre comprising 658 sq m (7,086 sq ft)
Let to Vabeld Uk Ltd with 166 years unexpired
Currently sublet to Bank of Scotland plc t/a Halifax at a subrent of £475,000 pa.
Nearby occupiers include Metro Bank, HSBC, J D Sports, Boots, Starbucks Coffee, Vodafone and McDonald's.

Lot 2
Auction 25th March 2021
Status Withdrawn Prior
Price
Sector
Ground Rent
Auction Venue
Live Streamed Auction
On Behalf of Liverpool City Council

Property Information

Location

Miles: 30 miles west of Manchester
Roads: A57, A5036, A59, M53 (Junction 1)
Rail: Liverpool Lime Street Station
Air: Liverpool John Lennon Airport

Situation

Liverpool is the second largest city in the North West of England and is one of the most popular retail and tourism destinations in the UK. The property occupies a prominent position on the busy and pedestrianised Paradise Street, Liverpool's prime retailing pitch. The property benefits from strong footfall from Liverpool Lime Street Rail Station to the north-east, Clayton Square Shopping Centre to the east and Liverpool ONE shopping centre to the south. Nearby occupiers include Metro Bank, HSBC, J D Sports, Boots, Starbucks Coffee, Vodafone and McDonald's.

Tenure

Freehold.

Location

Miles: 30 miles west of Manchester
Roads: A57, A5036, A59, M53 (Junction 1)
Rail: Liverpool Lime Street Station
Air: Liverpool John Lennon Airport

Situation

Tenure

Freehold.

Description

The property comprises a substantial building currently arranged to provide ground floor retail accommodation with first and second floor ancillary accommodation.

VAT

VAT is not applicable to this lot.

Note

Please note the buyer will pay 1% VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

Six Week Completion

EPC

Banc C. See legal pack.

Description

The property comprises a substantial building currently arranged to provide ground floor retail accommodation with first and second floor ancillary accommodation.

VAT

VAT is not applicable to this lot.

Note

Please note the buyer will pay 1% VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

Six Week Completion

EPC

Banc C. See legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground First Second	Retail Ancillary Ancillary	247.21 sq m 232.86 sq m 178.29 sq m	(2,661 sq ft) (2,506 sq ft) (1,919 sq ft)	VABELD UK LIMITED (1) sublet to Bank of Scotland plc t/a Halifax (2)	190 years from 27/03/1996	Peppercorn	26/03/2186
Total		658.36 sq m	(7,086 sq ft)			Peppercorn

(1) For the year ending 31st December 2019, Vabeld UK Limited reported total assets of £114,364,260 and shareholders funds of £5,205,075 (Source: NorthRow 29/01/2021).
(2) The property has been sublet to Bank of Scotland plc t/a Halifax on a 26 year lease from 04/01/2002 at a rent of £475,000 pa.

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.