Let to Whitecross Dental Care Limited with a guarantee from Integrated Dental Holdings Limited
15 year lease renewal from 22nd July 2021 (subject to options)
12 month rental break penalty at year 5 if break option exercised
Re-based rent
Rent rising to £14,708.31 pa in July 2026 and rising to £16,641.10 pa in July 2031
VAT-free Dental Surgery Investment
Lot 32
Auction 24th September 2021
Rent £13,000 per Annum Exclusive
Status Sold Prior
Price
Sector Medical Centre/Doctors, Healthcare
Auction Venue Live Streamed Auction
Property Information
Location
Miles
29 miles north-west of Leeds
30 miles north of Manchester
Roads
B6383, A56, M65
Air
Manchester Airport
Situation
Barnoldswick is a market town in Lancashire approximately 29 miles north-west of Leeds and 30 miles north of Manchester. The property is situated in a predominantly residential area on the south side of Park Avenue, at it's junction with York Street and approximately 300 metres from the town centre.
Tenure
Freehold.
Location
Miles
29 miles north-west of Leeds
30 miles north of Manchester
Roads
B6383, A56, M65
Air
Manchester Airport
Situation
Barnoldswick is a market town in Lancashire approximately 29 miles north-west of Leeds and 30 miles north of Manchester. The property is situated in a predominantly residential area on the south side of Park Avenue, at it's junction with York Street and approximately 300 metres from the town centre.
Tenure
Freehold.
Description
The property comprises a Dental Surgery arranged on the ground, first and second floors.
VAT
VAT is not applicable to this lot.
Note
Please note the buyer will pay 1.5% plus 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
Band E. See legal pack.
Description
The property comprises a Dental Surgery arranged on the ground, first and second floors.
VAT
VAT is not applicable to this lot.
Note
Please note the buyer will pay 1.5% plus 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
Band E. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground First Second
Dental Surgery Ancillary Ancillary
37.78 sq m 32.52 sq m 27.83 sq m
(407 sq ft) (350 sq ft) (299 sq ft)
WHITECROSS DENTAL CARE LIMITED with a guarantee from INTEGRATED DENTAL HOLDINGS LIMITED (2)
15 years from 22/07/2021 until 21/07/2036 (3) on a full repairing and insuring lease (4)
£13,000 rising to £14,708.31 in July 2026 rising to £16,641.10 in July 2031
Total
98.13 sq m
(1,056 sq ft) (1)
£13,000 (with fixed rental uplifts every 5 years)
(1) Floor areas provided by the Valuation Office Agency (www.gov.uk). (2) For the year ending 31st March 2019, Whitecross Dental Care limited reported a turnover of £166,771,000, a pre-tax profit of negative £56,039,000 and shareholder funds of £5,341,000. Integrated Dental Holdings Limited did not report a turnover or pre-tax profit, but reported a total net worth of £18,263,000 (Source: NorthRow 27/07/2021). (3) The lease provides for a tenant option to determine the lease on 22/07/2026 and 22/07/2031. The tenant has agreed a 12 month rental break penalty if they exercise the option at the expiry of the 5th year. (4) The lease is full repairing & insuring, 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.
