Recently renewed 5 year lease from August 2024 (subject to option)
Fixed rental uplift to £11,000 p.a. in August 2026
Rent recently rebased from £16,000 pa
Tenant in occupation since 2014
Busy Retail Parade
Lot 36
Auction 15th May 2025
Rent £10,000 per Annum Exclusive
Status Available
Guide* £90,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
15 miles north-west of Nottingham, 20 miles south of Sheffield
Roads
A61, A38, M1 (Junction 28)
Rail
Alfreton Railway Station
Air
East Midlands Airport
Situation
The property is situated on the pedestrianised Institute Lane, forming the town centre's main retailing provision along with High Street. Nearby occupiers include Card Factory, Boots and Greggs.
Tenure
Virtual Freehold. Held on a lease for a term of 999 years from 20th July 2012 at a peppercorn rent.
Location
Miles
15 miles north-west of Nottingham, 20 miles south of Sheffield
Roads
A61, A38, M1 (Junction 28)
Rail
Alfreton Railway Station
Air
East Midlands Airport
Situation
The property is situated on the pedestrianised Institute Lane, forming the town centre's main retailing provision along with High Street. Nearby occupiers include Card Factory, Boots and Greggs.
Tenure
Virtual Freehold. Held on a lease for a term of 999 years from 20th July 2012 at a peppercorn rent.
Description
The property comprises a ground floor lock-up shop forming part of a larger building.
VAT
VAT is applicable to this lot.
EPC
C73
Description
The property comprises a ground floor lock-up shop forming part of a larger building.
VAT
VAT is applicable to this lot.
EPC
C73
Tenancy & Accommodation
Floor
Use
Floor Areas Approx. sq. m.
Floor Areas Approx. (sq. ft.)
Tenant
Term
Rent p.a.x.
Ground
Retail
62.80
(676)
THE AIR AMBULANCE SERVICE (1)
5 years from 08/08/2024 (2)
£10,000 (3)
Total
62.80 (4)
(676) (4)
£10,000
(1) The Air Ambulance Service (Charity Number:1098874) has over 50 stores, including four Superstores, with further expansion beyond this year. Founded in 2002, they provide air ambulance services to the regions of Warwickshire, Northamptonshire, Derbyshire, Leicestershire and Rutland. (www.theairambulanceservice.org.uk) (2) The lease provides for a tenant option to break on 08/08/2027. (3) The lease provides for a fixed rental uplift to £11,000 p.a. from 08/08/2026. (4) 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.
