Let to Coral Racing Limited until 2023 (subject to option)
Prominent City Centre Location
Important University City
Neighbouring occupiers include Natwest, BHS, Boots the Chemist, Marks & Spencer, W H Smith and Caffé Nero
Six Week Completion
Lot 19
Auction 17th October 2013
Rent £30,000 per Annum Exclusive
Status Sold
Price £296,000
Sector Leisure
Auction Venue The Millennium Hotel 44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Miles
20 miles north-east of Coventry
23 miles south of Nottingham
35 miles north-east of Birmingham
Roads
M1, M69, A6, A50, A47
Rail
Leicester Railway Station (1 hour 8 mins to London St Pancras International)
Air
Nottingham East Midlands Airport
Situation
The property is situated in the heart of Leicester City Centre on the east side of the busy Granby Street close to its junction with the important pedestrianised Gallowtree Gate. Neighbouring occupiers include Natwest, BHS, Boots the Chemist, Marks & Spencer, W H Smith and Caffé Nero.
Tenure
Freehold. Majority Freehold.
A small part of the rear of the property known as 3 Granby Place is held on a long lease from Leicester City Council for a term of 50 years from 26th July 2013 at a current rent reserved of £2,000 per annum, subject to 5 yearly rent reviews.
Location
Miles
20 miles north-east of Coventry
23 miles south of Nottingham
35 miles north-east of Birmingham
Roads
M1, M69, A6, A50, A47
Rail
Leicester Railway Station (1 hour 8 mins to London St Pancras International)
Air
Nottingham East Midlands Airport
Situation
The property is situated in the heart of Leicester City Centre on the east side of the busy Granby Street close to its junction with the important pedestrianised Gallowtree Gate. Neighbouring occupiers include Natwest, BHS, Boots the Chemist, Marks & Spencer, W H Smith and Caffé Nero.
Tenure
Freehold. Majority Freehold.
A small part of the rear of the property known as 3 Granby Place is held on a long lease from Leicester City Council for a term of 50 years from 26th July 2013 at a current rent reserved of £2,000 per annum, subject to 5 yearly rent reviews.
Description
The property comprises ground floor retail accommodation with ancillary accommodation on the first floor and in the basement.
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 comprises ground floor retail accommodation with ancillary accommodation on the first floor and in the basement.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Basement Ground First
Ancillary Retail Ancillary
85.20 sq m 157.50 sq m 78.10 sq m
(917 sq ft) (1,695 sq ft) (841 sq ft)
CORAL RACING LIMITED (1)
10 years from 26/07/2013 until 2023 on a full repairing and insuring lease (2) (4)
£30,000 (3)
26/07/2018
Totals
320.80 sq m
(3,453 sq ft)
£30,000 (3)
(1) For the year ending 29/09/2012, Coral Racing Limited reported a turnover of £603,447,000, pre-tax profits of £101,348,000 and a total net worth of £61,039,000. (Source: www.riskdisk.com 16/09/2013). (2) The lease provides for a tenant option to determine the lease on the 26/07/2018. (3) The rent stated above is the gross rent. The Net Rent is £28,000 per annum exclusive after deduction of £2,000 per annum head rent. (4) The lease is subject to a schedule of condition.
