Tenants include a Vietnamese supermarket, a nail and spa salon, a games shop and a snooker memorabilia shop
Popular pedestrianised thoroughfare opposite Crucible Theatre benefitting from increased footfall from large Marks & Spencer Food Hall
Other nearby occupiers include H&M, Superdrug, WHSmith, Caffé Nero, Boots the Chemist, McDonalds and a Tesco Express
VAT free investment
Lot 36
Auction 30th March 2023
Rent Gross: £120,250 per Annum Net: £43,103 per Annum
Status Sold Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
33 miles south of Leeds, 38 miles east of Manchester
Roads
A57, A61, A631, M1
Rail
Sheffield Railway Station
Air
Sheffield Robin Hood Airport, Manchester International Airport
Situation
The property is situated on Chapel Walk between the eastern side of the prime pedestrianised retail thoroughfare of Fargate and the west side of Norfolk Street, opposite the Crucible Theatre. The area benefits from a large Marks & Spencer Food Hall exiting onto Chapel Walk, vastly increasing pedestrian footfall. Other nearby occupiers include H&M, Superdrug, WHSmith, Caffé Nero, Boots the Chemist, McDonalds and a Tesco Express.
Tenure
Leasehold. Held for a term The Yorkshire Congregational Union (incorporated) for a term of 150 years from 23/02/1971 (98 years unexpired) at a current ground rent of £77,147.34 per annum, reviewable every 14 years.
Location
Miles
33 miles south of Leeds, 38 miles east of Manchester
Roads
A57, A61, A631, M1
Rail
Sheffield Railway Station
Air
Sheffield Robin Hood Airport, Manchester International Airport
Situation
The property is situated on Chapel Walk between the eastern side of the prime pedestrianised retail thoroughfare of Fargate and the west side of Norfolk Street, opposite the Crucible Theatre. The area benefits from a large Marks & Spencer Food Hall exiting onto Chapel Walk, vastly increasing pedestrian footfall. Other nearby occupiers include H&M, Superdrug, WHSmith, Caffé Nero, Boots the Chemist, McDonalds and a Tesco Express.
Tenure
Leasehold. Held for a term The Yorkshire Congregational Union (incorporated) for a term of 150 years from 23/02/1971 (98 years unexpired) at a current ground rent of £77,147.34 per annum, reviewable every 14 years.
Description
The property comprises six shops each comprising retail accommodation arranged on the ground floor only. The property forms part of a larger building, the remainder of which is not included in the sale.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See Legal Pack
Description
The property comprises six shops each comprising retail accommodation arranged on the ground floor only. The property forms part of a larger building, the remainder of which is not included in the sale.
CAMILLA ANH TRANS NAILS LIMITED with Guarantee (t/a Camilla Luxe Nails & Spa) (5)
6 years from 01/06/2021
£22,000 rising to £24,000 in June 2023 rising to £25,000 in June 2025
52
Retail/Ancillary
93.90
(1,011)
AIRWAIR INTERNATIONAL LIMITED (t/a Dr Martens) (6)
6 months from 01/02/2023 (6) at £1,500 pcm
£18,000 (6)
Total
672.35
(7,238)
£120,250 rising to £126,250 by August 2023
(1) www.elementgames.co.uk - The lease is subject to a tenant only option to determine on 02/09/2024 and 3 yearly thereafter. (2) www.birdsyard.co.uk (3) The tenant is currently shopfitting and will be selling Snooker memorabillia. The tenant already trades from another shop in Meadowhall Centre, Sheffield (www.ronnieosullivanshop.com). The lease is subject to a tenant only option to determine on 01/05/2023. (4) The lease is subject to a tenant only option to determine on 01/05/2026. (5) www.camillaluxenailsspa.setmore.com (6) Dr Martens have served notice to vacate the property. A new letting has completed to Ocean Homeland Limited (t/a Iwan Bubble Tea) for a term of 6 years from 01/08/2023 (no breaks) at a new rent of £20,000 p.a.
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.
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