Let to Esquire Retail Limited (t/a Clinton Cards) and Oak Tree Animals' Charity (established in 1909)
Oak Tree Animals' Charity let on a new 5 year lease until 2027 (subject to option)
Comprises 2 shops and a self contained basement storage
Prominent position on pedestrianised street within the City Centre
Neighbouring occupiers include Marks and Spencer, Boots, Ted Baker, Primark and Tesco
Lot 38
Auction 22nd September 2022
Rent £71,000 per Annum Exclusive Rising to £75,000 pax in 2026 (4)
Status Sold
Price £391,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
12 miles north of the Lake District, 59 miles west of Newcastle upon Tyne
Roads
A7, A69, M6
Rail
Carlisle Railway Station
Air
Newcastle Airport
Situation
The historic University City of Carlisle is a major regional commercial and retail centre located North of the Lake District National park and some 100 miles east of Newcastle upon Tyne and serves a wide area of North Cumbria. The property is situated in a prominent position in the city centre on the prime pedestrianised English Street, close to it's junction with Bank Street. Nearby occupiers include Marks and Spencer, Boots, Ted Baker, Primark and Tesco.
Tenure
Freehold.
Location
Miles
12 miles north of the Lake District, 59 miles west of Newcastle upon Tyne
Roads
A7, A69, M6
Rail
Carlisle Railway Station
Air
Newcastle Airport
Situation
The historic University City of Carlisle is a major regional commercial and retail centre located North of the Lake District National park and some 100 miles east of Newcastle upon Tyne and serves a wide area of North Cumbria. The property is situated in a prominent position in the city centre on the prime pedestrianised English Street, close to it's junction with Bank Street. Nearby occupiers include Marks and Spencer, Boots, Ted Baker, Primark and Tesco.
Tenure
Freehold.
Description
The property comprises two shops with ground floor rental accommodation and first floor ancillary accommodation. The property also benefits from a large self contained basement which can be used as storage accommodation and benefits from rear access loading and car parking from Blackfriars street.
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 two shops with ground floor rental accommodation and first floor ancillary accommodation. The property also benefits from a large self contained basement which can be used as storage accommodation and benefits from rear access loading and car parking from Blackfriars street.
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
Address
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review (Reversion)
58/60 English Street
Ground First
Retail/Ancillary Ancillary
187.11 48.87
(2,014) (536)
OAK TREE ANIMALS' CHARITY (3)
5 Years from 16/06/2022
£21,000 (4)
Fixed annual increases of £1000 pax (15/06/2027)
62/64 English Street
Ground First
Retail/Ancillary Ancillary
267.38 383.97
(2,878) (4,133)
ESQUIRE RETAIL LIMITED (t/a Clinton Cards) (1)
5 years from 25/04/2020 (2)
£50,000
(24/04/2025)
62/64 English Street
Basement
Ancillary
312.43
(3,363)
VACANT POSSESSION
-
-
-
Total Approximate Floor Area
1,199.76 (5)
(12,914)
£71,000 Rising to £75,000 pax in 2026 and with basement storage to be let.
(1) The business was family run and founded in 1968. In December 2019 the company was purchased by Esquire Retail Limited who currently operate circa 238 stores all over the UK, including Scotland, Wales and Northern Ireland as well as a transactional website. (Source: https://clintonsretail.com/pages/about-us) (2) The lease provides for an annual tenant options to determine the lease on the 31st January in serving 3 months written notice. (3) Oak Tree Animals' Charity is a registered charity under Registered Charity No. 1169511 / SC048389 and Company Limited by Guarantee 10404912. The charity dates back to 1909 and continues to promote animal welfare and responsible pet ownership providing homing services for cats, dogs and horse and proactive community support, advice and education. The charity operates an animal welfare centre and 7 charity shops in the north west of England. (Source: www.oaktreeanimals.org.uk) (4) The lease provides for a tenant option to determine the lease at the end of the 3rd anniversary of the term, upon serving 6 months' prior written notice - The lease also proved for fixed rental increases of £1000 per annum exclusive. (5) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk)
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.
