Freehold Retail/Restaurant Investment in Historic City Centre Location
Entirely let to Café Rouge Restaurants Limited until 2031
Fashionable retail pitch with nearby occupiers including Hugo Boss, Vivienne Westwood and Ted Baker
Attractive period building in a prominent corner position
Planning Permission and Listed Building Consent granted for retail use
Six Week Completion Period Available
Lot 6
Auction 23rd February 2012
Rent £104,079 per Annum Exclusive
Status Withdrawn Post
Price
Sector Leisure
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
25 miles north of Leicester, 16 miles east of Derby, 52 miles north-east of Birmingham
Roads
A609, M1 (Junctions 24, 25 and 26)
Rail
Nottingham Mainline Rail Station
Air
Nottingham East Midlands Airport
Situation
The property is situated in a prominent position fronting St Peters Gate benefiting from a return frontage onto Bank Place. St Peters Gate forms one of the main thoroughfares leading into Nottingham’s historic city centre and comprises part of the perimeter of the central retailing district leading to Bridlesmith Gate to the east, Albert Street to the south-west and Low Pavement to the south. Nearby occupiers include, Hugo Boss, The White Company, Vivien Westwood and Molton Brown.
Tenure
Freehold.
Location
Miles
25 miles north of Leicester, 16 miles east of Derby, 52 miles north-east of Birmingham
Roads
A609, M1 (Junctions 24, 25 and 26)
Rail
Nottingham Mainline Rail Station
Air
Nottingham East Midlands Airport
Situation
The property is situated in a prominent position fronting St Peters Gate benefiting from a return frontage onto Bank Place. St Peters Gate forms one of the main thoroughfares leading into Nottingham’s historic city centre and comprises part of the perimeter of the central retailing district leading to Bridlesmith Gate to the east, Albert Street to the south-west and Low Pavement to the south. Nearby occupiers include, Hugo Boss, The White Company, Vivien Westwood and Molton Brown.
Tenure
Freehold.
Description
The property, a Grade II Listed building, comprises a ground floor retail/ restaurant unit, lower ground ancillary accommodation with first and second floors providing self-contained office accommodation accessed via a separate entrance on Bank Place. The offices benefit from central heating, kitchen, WCs and suspended ceilings in part.
VAT
VAT is not applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers. Please contact Gwen Thomas at gwen.thomas@acuitus.co.uk.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a Grade II Listed building, comprises a ground floor retail/ restaurant unit, lower ground ancillary accommodation with first and second floors providing self-contained office accommodation accessed via a separate entrance on Bank Place. The offices benefit from central heating, kitchen, WCs and suspended ceilings in part.
VAT
VAT is not applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers. Please contact Gwen Thomas at gwen.thomas@acuitus.co.uk.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
35 years (plus 3 days) from 20.09.96 until 2031 on a full repairing and insuring lease
£104,079
20.09.11 and five yearly
Totals
795 sq m (2)
(8,558 sq ft) (2)
£104,079
(1) For the year ending 29th May 2011, Café Rouge Restaurants Limited reported a turnover of £106,755,000, pre-tax profits of £7,413,000 and a total net worth of £61,865,000. (Source: www.riskdisk.com 18.01.2012) Café Rouge Restaurants Limited is a wholly owned subsidiary of Tregus Group, one of the UK’s largest independently owned restaurant operators with over 295 sites. Their portfolio of brands includes Café Rouge, Strada, Bella Italia and the Brasseries. Tragus is backed by The Blackstone Group, a global private investment and advisory firm, founded in 1985. The firm has raised a total of more than $67 billion for alternative asset investing since its formation. (Source: www.tragusgroup.com 18.01.2012) The tenant is not currently in occupation. (2)These areas have been measured on a gross internal basis.
Contacts
Associate Auctioneers
Fisher Hargreaves Proctor 10 Oxford Street Nottingham NG1 5BG
