Includes parking for about 20 vehicles on site area of approximately 0.15 ha (0.37 acres)
Prominent corner location in densely populated residential area
Lot 8
Auction 2nd November 2023
Rent £70,000 per Annum Exclusive (3) (5)
Status Withdrawn Prior
Price
Sector Supermarket/Convenience
Auction Venue Live Streamed Auction
Property Information
Location
Miles
24 miles south of York, 35 miles east of Leeds
Roads
A63, A161, A614, M62 (J36)
Rail
Goole Train Station
Air
Leeds Bradford Airport
Situation
The property is situated in a popular residential area on the east side of Rutland Road, at its junction with Newclose Lane, one mile north of Goole town centre. Nearby occupiers include a Lloyds Pharmacy, several independent shops and an Asda Supermarket.
Tenure
Freehold.
Location
Miles
24 miles south of York, 35 miles east of Leeds
Roads
A63, A161, A614, M62 (J36)
Rail
Goole Train Station
Air
Leeds Bradford Airport
Situation
The property is situated in a popular residential area on the east side of Rutland Road, at its junction with Newclose Lane, one mile north of Goole town centre. Nearby occupiers include a Lloyds Pharmacy, several independent shops and an Asda Supermarket.
Tenure
Freehold.
Description
The property comprises a convenience store arranged on the ground floor. The first floor comprises former private living accommodation with 4 bedrooms, a living room, kitchen, office, bathroom & separate WC, not included in the lease to Tesco and offered vacant. The property benefits from parking for about 20 vehicles.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C
Description
The property comprises a convenience store arranged on the ground floor. The first floor comprises former private living accommodation with 4 bedrooms, a living room, kitchen, office, bathroom & separate WC, not included in the lease to Tesco and offered vacant. The property benefits from parking for about 20 vehicles.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Rent Review
Ground
Convenience Store/Ancillary
509.00
(5,478)
TESCO STORES LIMITED (2) (t/a Tesco Express)
15 years from 02/06/2023
£70,000 (3)
02/06/2028 and 02/06/2033 (4)
First
Vacant
-
-
VACANT
-
-
Total
509.00
(5,478)
£70,000 (3) (5)
(1) Areas provided are for the whole building and are provided by the EPC register (www.gov.uk/find-energy-certificate). (2) For the year ending 26/02/2022, Tesco Stores Limited reported a turnover of £44,793,000,000, a pre-tax profit of £1,260,000,000 and a net worth of £16,008,000,000 (www.northrow.com) (3) The lease provides for a 9 month rent concessionary period at half rent from 02/06/2023 until 02/03/2024. The seller will pay the buyer a sum equivalent to the rent that would of been due to be paid in absence of the rent concession period. Therefore the property will produce £70,000 per annum exclusive from completion of sale. (4) Rent reviews are upwardly only but capped at an increase of 12.5% over the rent review period. (5) Heads of Terms have recently been agreed for the letting of two electric vehicle charging bays each at £5,750 p.a. - please see legal pack.
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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