Freehold Supermarket Investment - Let on recently renewed unbroken 20 year lease
Entirely let to Farmfoods Limited
New 20 year lease from 09/07/2021 (no breaks)
Supermarket recently extended into adjoining shops.
Approx. 15,331 sq ft with car parking
Nearby occupiers including Aldi, B&M Home Bargains and Jack's (Tesco) Supermarket
Lot 12
Auction 17th February 2022
Rent £80,000 per Annum Exclusive
Status Sold
Price £1,395,000
Sector Supermarket/Convenience
Auction Venue Live Streamed Auction
Property Information
Location
Miles
8 miles north-west of Grimsby, 36 miles north-east of Lincoln
Roads
A15, A16, A180, M180
Rail
Habrough Station
Air
Humberside Airport
Situation
Immingham is a historic shipping town located on the south bank of the River Humber. The town benefits from good road communications and is served by the A180 and the M180 just 9 miles to the west. The property is situated within the Washdyke Retail Park with nearby occupiers including Aldi, B&M Home Bargains and Jack's (Tesco) Supermarket.
Tenure
Freehold.
Location
Miles
8 miles north-west of Grimsby, 36 miles north-east of Lincoln
Roads
A15, A16, A180, M180
Rail
Habrough Station
Air
Humberside Airport
Situation
Immingham is a historic shipping town located on the south bank of the River Humber. The town benefits from good road communications and is served by the A180 and the M180 just 9 miles to the west. The property is situated within the Washdyke Retail Park with nearby occupiers including Aldi, B&M Home Bargains and Jack's (Tesco) Supermarket.
Tenure
Freehold.
Description
The property comprises a large ground floor supermarket with sales, staff and ancillary accommodation. The tenant recently extended the supermarket into the adjoining shops. The property also benefits from on-site parking.
VAT
VAT is applicable to this lot.
Completion Period
6 Week Completion.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a large ground floor supermarket with sales, staff and ancillary accommodation. The tenant recently extended the supermarket into the adjoining shops. The property also benefits from on-site parking.
VAT
VAT is applicable to this lot.
Completion Period
6 Week Completion.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Gross Internal Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground
Sales/Ancillary
1,424.36 sq m
(15,331 sq ft)
FARMFOODS LTD (1)
20 years from 09/07/2021 to 08/07/2041on a full repairing & insuring lease
£80,000 (2)
09/07/2031 & 09/07/2036
Total
1,424.36 sq m
(15,331 sq ft)
£80,000
(1) For the year ended 02/01/2021 Farmfoods Limited reported a turnover of £892.4M, a pre-tax profit of £26.2M and a net worth of £125.1M (Source - Experian 21/01/2022)
(2) The tenant benefits from a rent free period expiring on 09/07/2022 and then half rent until 08/07/2023, after which the rent reverts to £80,000 per annum.
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.
