Comprises a supermarket with Post Office, six shops, five flats and an ATM machine
Tenants include Tesco Stores Limited (t/a Tesco) and Nationwide Building Society
Approximate site area of 0.6514 hectares (1.6097 acres)
Large on-site car park
Six Week Completion Period Available
Lot 19
Auction 14th February 2013
Rent £107,200 per Annum Exclusive
Status Sold
Price £1,200,000
Sector Shopping Centre
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
4.5 miles to Swindon Town Centre, 35 miles north-east of Bath, 41 miles to Bristol
Roads
A419, A420, M4 (Junction 15)
Rail
Swindon (Wilts); approximately 1 hour to London Paddington, 45 mins to Bristol Temple Meads
Air
Bristol Airport
Situation
The property is situated in a predominantly residential area approximately three miles north of Swindon town centre, accessed off the A419 which provides direct access to Junction 16 of the M4 Motorway.
Tenure
Freehold.
Location
Miles
4.5 miles to Swindon Town Centre, 35 miles north-east of Bath, 41 miles to Bristol
Roads
A419, A420, M4 (Junction 15)
Rail
Swindon (Wilts); approximately 1 hour to London Paddington, 45 mins to Bristol Temple Meads
Air
Bristol Airport
Situation
The property is situated in a predominantly residential area approximately three miles north of Swindon town centre, accessed off the A419 which provides direct access to Junction 16 of the M4 Motorway.
Tenure
Freehold.
Description
The property, a modern shopping centre, comprises a supermarket with Post Office, six shops, five flats and an ATM machine. The property also benefits from a large on-site car park and an approximate site area of 0.6514 hectares (1.6097 acres).
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a modern shopping centre, comprises a supermarket with Post Office, six shops, five flats and an ATM machine. The property also benefits from a large on-site car park and an approximate site area of 0.6514 hectares (1.6097 acres).
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Units (1)
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Unit 6
Ground
Retail
Not Measured
DEWHURST ESTATE AGENTS LIMITED
125 years from 25/04/2002 until 24/04/2127
£100
25/04/2035 and 33 yearly (2)
Unit 2 and Flat A
Ground and First
Retail/ Residential
Not Measured
ATLANTIC SILVER LIMITED
125 years from 28/07/1999 until 27/07/2124
£100
28/07/2024 and 25 yearly (2)
Unit 5 and Flat
Ground and First
Retail/ Residential
Not Measured
WINTERTHUR LIFE
125 years from 08/08/1999 until 07/08/2124
£100
08/08/2024 and 25 yearly (2)
Unit 3 and Flat 8
Ground and First
Retail/ Residential
39.30 sq m (423 sq ft)
FLAUNT HAIRDRESSING LIMITED
20 years from 01/04/1999 until 31/03/2019
£22,500
01/01/2015
Unit 4 and Flat 11
Ground and First
Retail/ Residential
378 sq m (4,069 sq ft)
TESCO STORES LIMITED (3)
20 years from 28/08/2001 until 27/08/2021
£60,000
28/08/2013 and 28/08/2017
Unit 5
Ground
Retail
54.90 sq m (591 sq ft)
PROSPECT HOSPICE LIMITED
5 years from 03/09/2010 until 02/09/2015
£10,000
Flat 9
First
Residential
Not Measured
INDIVIDUAL
1 year from 01/10/2009 until 30/09/2010 (4)
£5,400
ATM Machine
Ground
ATM Machine
N/A
NATIONWIDE BUILDING SOCIETY
Licence for 10 years from 25/08/2004 until 24/08/2014
£9,000
Total
472.20 sq m
(5,083 sq ft)
£107,200
(1) The units are numbered as per the addresses within their individual leases. (2)The rental income will increase by £100 p.a.x. at each review. (3)Tesco Stores Limited is a wholly owned subsidiary of Tesco plc. For the year ending 25th February 2012, Tesco Stores Limited reported a turnover of £41,981,000,000, pre-tax profits of £2,126,000,000 and a total net worth of £6,894,000,000. (Source: www.riskdisk.com 15/01/2013) (4)The tenant is currently holding over.
Contacts
Seller's Solicitors
Katten Muchin Roseman UK LLP 125, Old Broad Street London EC2N 1AR
