48 Commercial Street Hereford Herefordshire HR1 2DJ

48 Commercial Street
Hereford
Herefordshire
HR1 2DJ

Freehold Retail Investment with Asset Management Opportunities

Majority let to McDonald's Restaurants Limited until December 2030 (No breaks)
Includes one vacant ground floor shop approx. 319 sq. m. (3,437 sq. ft.)
Approximately 1,412.12 sq. m. (15,200 sq. ft.) over Ground, First and Second floors
Prominent pedestrianised City Centre location, close to The Maylord Shopping Centre
Nearby occupiers include Marks & Spencer, Tesco, Boots the Chemist, Superdrug, Sports Direct, Burger King, Greggs and The Entertainer

Lot
24
Auction
7th November 2024
Rent
£60,000 per Annum Exclusive
plus vacant shop
Status
Sold
Price
£655,000
Auction Venue
Live Streamed Auction
On behalf of a Major Investment Fund Manager

Interested?

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Freehold Retail Investment with Asset Management Opportunities

Majority let to McDonald's Restaurants Limited until December 2030 (No breaks)
Includes one vacant ground floor shop approx. 319 sq. m. (3,437 sq. ft.)
Approximately 1,412.12 sq. m. (15,200 sq. ft.) over Ground, First and Second floors
Prominent pedestrianised City Centre location, close to The Maylord Shopping Centre
Nearby occupiers include Marks & Spencer, Tesco, Boots the Chemist, Superdrug, Sports Direct, Burger King, Greggs and The Entertainer

Lot 24
Auction 7th November 2024
Rent £60,000 per Annum Exclusive plus vacant shop
Status Sold
Price £655,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On behalf of a Major Investment Fund Manager

Property Information

Location

Miles: 25 miles south-west of Worcester, 65 miles south-west of Birmingham
Roads: A49, A438, M5, M50
Rail: Hereford Railway Station
Air: Birmingham International Airport

Situation

The property is prominently situated on the southern side of the pedestrianised Commercial Street, Hereford's main retailing thoroughfare, at its junction with Union Passage, a short walk from The Maylord Shopping Centre, in the heart of the City Centre. Nearby occupiers include Marks & Spencer, Tesco, Boots the Chemist, Superdrug, Sports Direct, Burger King, Greggs and The Entertainer.

Tenure

Freehold.

Location

Miles: 25 miles south-west of Worcester, 65 miles south-west of Birmingham
Roads: A49, A438, M5, M50
Rail: Hereford Railway Station
Air: Birmingham International Airport

Situation

Tenure

Freehold.

Description

The property comprises a restaurant arranged on the ground, first, mezzanine and ancillary accommodation on the second floor. The restaurant unit also benefits from a frontage onto Union Street with deliveries received from there. In addition, the property provides for an additional ground floor retail unit.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six 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 (1)	Floor Areas (Approx sq ft (1)	Tenant	Term	Rent p.a.x.	Rent Review
48 Commercial Street	Ground First Mezzanine Second	Restaurant/Kitchen Restaurant Ancillary Ancillary	343.20 227.10 21.70 501.00	(3,694) (2,444) (233) (5,392)	MCDONALD'S RESTAURANTS LIMITED (2)	10 years from 25/12/2020 on a full repairing and insuring lease	£60,000	24/12/2025
46 Commercial Street	Ground	Retail/Ancillary	319.30	(3,437)	VACANT	-	-	-
Total			1,412.30	(15,200)			£60,000

(1) Areas provided by VOA (www.gov.uk/find-business-rates)
(2) For the year ending 31/12/2022, McDonald's Restaurants Limited reported a turnover of £1,597,442,000,a pre-tax profit of £170,875,000 and a net worth of £675,611,000 (www.northrow.com)

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.