Retail Unit Let to Sportswift Ltd t/a Card Factory on a Re-geared Lease Until September 2032 (No Breaks)
Prime Pedestrianised City Centre Location
Substantial Retail Unit and Dental Surgery and Self Contained Offices
Neighbouring Occupiers Include Marks & Spencer, Primark, H&M, McDonald’s, Starbucks and Next and the Major 70 Unit Mander Shopping Centre
Lot 25
Auction 18th May 2022
Rent £114,850 per Annum Exclusive (4)
Status Sold
Price £903,000
Sector High Street Retail
Auction Venue Live Streamed Auction
On Behalf of a Major Fund
Property Information
Location
Miles
13 miles north-west of Birmingham, 61 miles south of Manchester
Roads
A4150, A41, A460, M54, M6
Rail
Wolverhampton Railway Station
Air
Birmingham Airport, East Midlands Airport
Situation
The property is prominently located on the west side of the prime pedestrianised Dudley Street, in the heart of Wolverhampton city centre. Neighbouring occupiers include Marks & Spencer, Primark, H&M, McDonald’s, Starbucks and Next.
The property is situated adjacent to the busy and popular Mander Shopping Centre. The Centre has 70 units and 530 space multi storey car park. Occupiers include Clarks, B&M, JD Sports, Matalan and Rymans.
Tenure
Freehold.
Location
Miles
13 miles north-west of Birmingham, 61 miles south of Manchester
Roads
A4150, A41, A460, M54, M6
Rail
Wolverhampton Railway Station
Air
Birmingham Airport, East Midlands Airport
Situation
The property is prominently located on the west side of the prime pedestrianised Dudley Street, in the heart of Wolverhampton city centre. Neighbouring occupiers include Marks & Spencer, Primark, H&M, McDonald’s, Starbucks and Next.
The property is situated adjacent to the busy and popular Mander Shopping Centre. The Centre has 70 units and 530 space multi storey car park. Occupiers include Clarks, B&M, JD Sports, Matalan and Rymans.
Tenure
Freehold.
Description
The property is a substantial retail unit benefitting from a significant frontage onto Dudley Street comprising ground floor retail accommodation with lower ground floor ancillary accommodation and Dental Surgery on the first floor and self contained office accommodation on the second floor.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property is a substantial retail unit benefitting from a significant frontage onto Dudley Street comprising ground floor retail accommodation with lower ground floor ancillary accommodation and Dental Surgery on the first floor and self contained office accommodation on the second floor.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
HSS & PKS DENTAL LIMITED (CRN 12958015) t/a City Dental Practice and Brooke Street with a Personal Guarantee
15 years from 29/09/2017 until 2032
£11,850
28/09/2032
Total Approximate Floor Area
723.90 sq m
(7,790 sq ft)
£114,850 (4)
(1) For the year ending 31/01/2021 Sportswift Limited (CRN 03493972) reported a turnover of £265,024,000, a Pre-Tax Profit of negative £10,866,000 and a Net Worth of £36,831,000. (2) As to the lease of the Retail Unit to Sportswift the lease has been recently re-geared to include the removal of the 2022 tenant option to determine the lease and a reduction of the rent from £100,000 p.a.x. to £80,000 p.a.x. The tenant has been in occupation since April 2013. (3) As to the lease of the first and second floors the tenant has sublet the self contained second floor offices to Broad Street employment agency. (4) As to the ground floor retail unit, the current rent reserved is £103,000 per annum exclusive. The rent reserved under the terms of the lease will be £80,000 per annum exclusive from 28/09/2022.
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.
