Entirely let to individual for further 42 years (without break)
Comprises large coffee shop and three shops (entirely sublet)
Full rent being paid during lockdown with no arrears
VAT-free long-let investment
In the same ownership for almost 25 years
Lot 24
Auction 25th March 2021
Rent £50,000 per Annum Exclusive
Status Sold
Price £540,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
18 miles north-east of Sheffield
28 miles south-east of Leeds
Roads
A1(M), M18, M180
Rail
Doncaster
Air
Leeds/Bradford Airport
Situation
Doncaster is a large market town approximately 18 miles north-east of Sheffield and 28 miles south-east of Leeds. The town benefits from excellent road connections being 2 miles from J36 of the A1(M). The property is situated in a prominent town centre location on the south side of Printing Office Street, a short walk to Frenchgate Shopping Centre with retailers including Sainsbury's, Poundland, WHSmith and Holland & Barrett. The property is opposite Priory Walk with other nearby retailers including J. D. Wetherspoon and various independent retailers, cafes and restaurants.
Tenure
Freehold.
Location
Miles
18 miles north-east of Sheffield
28 miles south-east of Leeds
Roads
A1(M), M18, M180
Rail
Doncaster
Air
Leeds/Bradford Airport
Situation
Doncaster is a large market town approximately 18 miles north-east of Sheffield and 28 miles south-east of Leeds. The town benefits from excellent road connections being 2 miles from J36 of the A1(M). The property is situated in a prominent town centre location on the south side of Printing Office Street, a short walk to Frenchgate Shopping Centre with retailers including Sainsbury's, Poundland, WHSmith and Holland & Barrett. The property is opposite Priory Walk with other nearby retailers including J. D. Wetherspoon and various independent retailers, cafes and restaurants.
Tenure
Freehold.
Description
The property comprises a two storey building arranged as a large coffee shop and three shop units, each arranged on the ground and first floors. The accommodation above the three shops is separately accessed via two staircases from the main frontage. The entire property has been sublet to four independent traders.
VAT
VAT is not applicable to this lot.
Note
The entire property is let to A. Georgiou for a term of 99 years from 29/09/1964 (approximately 42 years unexpired) at a current rent of £50,000 per annum. The rent is subject to an upward only rent review on 29/09/2027 and 29/09/2048 to 75% of open market rental value and the lease contains full repairing and insuring covenants. The entire property has been sublet to four independent retailers.
Completion Period
Six Week Completion Available
EPC
See legal pack at www.acuitus.co.uk.
Description
The property comprises a two storey building arranged as a large coffee shop and three shop units, each arranged on the ground and first floors. The accommodation above the three shops is separately accessed via two staircases from the main frontage. The entire property has been sublet to four independent traders.
VAT
VAT is not applicable to this lot.
Note
The entire property is let to A. Georgiou for a term of 99 years from 29/09/1964 (approximately 42 years unexpired) at a current rent of £50,000 per annum. The rent is subject to an upward only rent review on 29/09/2027 and 29/09/2048 to 75% of open market rental value and the lease contains full repairing and insuring covenants. The entire property has been sublet to four independent retailers.
Completion Period
Six Week Completion Available
EPC
See legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
42
Ground First
Retail/Ancillary Ancillary
46.90 sq m 28.90 sq m
(505 sq ft) (311 sq ft)
Nails 4 U (sublet)
44
Ground
Retail/Ancillary
50.84 sq m
(547 sq ft)
Jackson’s Herbalists (sublet)
46
Ground First
Retail/Ancillary Ancillary
28.00 sq m 55.80 sq m
(301 sq ft) (601 sq ft)
Little Devils Kidswear (sublet)
48-52
Ground First
Retail/Ancillary Ancillary
168.36 sq m 72.20 sq m
(1,812 sq ft) (777 sq ft)
The Glass Strawberry Cafe (sublet)
Total
451.00 sq m
(4,854 sq ft)
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.
