Bridge Mills Derby Road Long Eaton NG10 4QA

Bridge Mills
Derby Road
Long Eaton
NG10 4QA

Freehold Mixed Use Investment

Substantial building comprising 4,404 sq m (47,405 sq ft)
Site area approximately 0.29 Hectares (0.71 Acres)
Potential redevelopment of the third floor (subject to consents)
500 metres from Long Eaton town centre
Multi let and currently producing £105,100 p.a.x plus a vacant third floor
Tenants include DFS & Ashley Manor
Neighbouring occupiers include Dulux, Jewson and Topps Tiles

Lot
34
Auction
25th March 2021
Rent
£105,100 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Freehold Mixed Use Investment

Substantial building comprising 4,404 sq m (47,405 sq ft)
Site area approximately 0.29 Hectares (0.71 Acres)
Potential redevelopment of the third floor (subject to consents)
500 metres from Long Eaton town centre
Multi let and currently producing £105,100 p.a.x plus a vacant third floor
Tenants include DFS & Ashley Manor
Neighbouring occupiers include Dulux, Jewson and Topps Tiles

Lot 34
Auction 25th March 2021
Rent £105,100 per Annum Exclusive
Status Sold Prior
Price
Sector
Office
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 8 miles south-west of Nottingham; 9 miles south-east of Derby; 24 miles north of Leicester
Roads: A6005, A52, M1 (Junction 25)
Rail: Long Eaton
Air: Nottingham Airport

Situation

Long Eaton is a town in Derbyshire close to the M1 which is due to become a main terminal for HS2 and the Tram from Nottingham City Centre is to be extended to that terminal. The property is prominently located in a mixed use commercial area on the north side of the busy Derby Road (A6005) approximately 500 metres from Long Eaton town centre. Neighbouring occupiers include Dulux, Jewson and Topps Tiles.

Tenure

Freehold.

Location

Miles: 8 miles south-west of Nottingham; 9 miles south-east of Derby; 24 miles north of Leicester
Roads: A6005, A52, M1 (Junction 25)
Rail: Long Eaton
Air: Nottingham Airport

Situation

Tenure

Freehold.

Description

The property is a large former Lace Mill building which now comprises mixed use commercial accommodation of showroom, industrial, office and leisure arranged over the ground, first and second floors. The third floor is not currently used and may be suitable for redevelopment (subject to consents).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
Ground	Industrial	552 sq m	(5,942 sq ft)	ASHLEY MANOR UPHOLSTERY LTD (1)	10 years from 01/08/2019 (2)	£27,600	31/07/2029
Ground	Industrial	788 sq m	(8,482 sq ft)	KOUFAX LIMITED (t/a southpaw)	10 years from 01/01/2016	£25,000	01/01/2026
First	Industrial	1,152 sq m	(12,400 sq ft)	DFS TRADING LTD (3)	7 years from 01/12/2016	£27,000	24/03/2023
Second	Office	768 sq m	(8,267 sq ft)	BRADLEY BROWN INTERNET LTD	8 years from 01/03/2017	£18,500	28/02/2025
Second	Studio	384 sq m	(4,133 sq ft)	EAST MIDLANDS MARTIAL ARTS	Yearly license	£7,000
Third		Useable floor area 756 sq m (8,136 sq ft)		VACANT	-	-
Total		4,400 sq m	(47,363 sq ft)			105,100

(1) For the year ending 31st December 2019, Ashley Manor Upholstery Ltd reported a turnover of £27,367,445, a pre- tax profit of £827,186 and shareholders funds of £817,452 (Source: NorthRow 16/02/2021). Incorporated in 1993, Ashley Manor is now the second largest sofa group in the UK (Source: Ashley Manor 19/02/2021).
(2) The lease provides for a tenant option to determine on 01/08/2024 giving 6 month notice.
(3) For the year ending 30th June 2019, DFS Trading Ltd reported a turnover of £647,400,000, a pre-tax profit of £33,100,000 and shareholders funds of £192,700,000 (Source: NorthRow 16/02/2021). Incorporated in 1983, DFS is now the UK's No.1 Sofa manufacture with 118 stores across the UK (Source: DFS.co.uk 19/02/2021).

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.