New 5 year lease (renewal) from January 2023 (subject to option)
Re-based rent. Previous rent £50,000 pax
Approximately 2,946 sq ft
Close to The Foundry Shopping Centre where retailers include Boots the Chemist, Iceland, Starbucks, Greggs and WHSmith
Lot 35
Auction 18th May 2023
Rent £30,000 per Annum Exclusive
Status Sold
Price £216,000
Sector High Street Retail
Auction Venue Live Streamed Auction
On Behalf of Trustees
Property Information
Location
Miles
46 miles north-east of Sheffield, 53 miles south-east of Leeds, 47 miles south-east of York
Roads
A159, M180, M181
Rail
Scunthorpe Rail
Air
Sheffield Airport
Situation
The property is prominently situated on the north side of pedestrianised High Street, 300 yards west of The Foundry Shopping Centre where retailers include Boots the Chemist, Iceland, Starbucks, Greggs and WHSmith. Other nearby occupiers include Primark, Poundland, Superdrug, Boots Opticians, Hays Travel, Costa Coffee and Cooplands.
Tenure
Freehold.
Location
Miles
46 miles north-east of Sheffield, 53 miles south-east of Leeds, 47 miles south-east of York
Roads
A159, M180, M181
Rail
Scunthorpe Rail
Air
Sheffield Airport
Situation
The property is prominently situated on the north side of pedestrianised High Street, 300 yards west of The Foundry Shopping Centre where retailers include Boots the Chemist, Iceland, Starbucks, Greggs and WHSmith. Other nearby occupiers include Primark, Poundland, Superdrug, Boots Opticians, Hays Travel, Costa Coffee and Cooplands.
Tenure
Freehold.
Description
The property comprises a shop arranged on the ground, first and second floors.
VAT
VAT is applicable to this lot.
Note
Please note the buyer will pay 1.5% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
Six Week Completion
EPC
Band E
Description
The property comprises a shop arranged on the ground, first and second floors.
VAT
VAT is applicable to this lot.
Note
Please note the buyer will pay 1.5% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
Six Week Completion
EPC
Band E
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Ground First Second
Retail/Ancillary Ancillary Ancillary
156.80 93.00 23.90
(1,688) (1,001) (257)
THE WORKS STORES LIMITED (2)
5 years from 06/01/2023 (3) on a full repairing and insuring lease (4)
£30,000 (5)
Total
273.70
(2,946)
£30,000
(1) Areas provided by VOA (www.gov.uk/find-business-rates) (2) For the year ending 1st May 2022, The Works Stores Limited reported a turnover of £264,630,000, a pre-tax profit of £12,858,000 and a net worth of £17,878,000. (www.northrow.com) (3) The lease is subject to a tenant only option to determine on 06/01/2026 (4) The lease is full repairing and insuring subject to a schedule of condition. (5) The tenant is currently paying half rent until 06/07/2023. The Seller will pay to the Buyer the rent that would have been due from completion of the sale to the date of the end of the concessionary rental period.
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.
