MapShop
Shop
Features and description
LOCATION
The property is situated on busy pedestrianised Blandford Street in the City Centre of Sunderland, close to the Bridges Shopping Centre. Neighbouring occupiers include Holland & Barrett, Yorkshire Bank, Santander Bank, other national retailers and local amenities.
DESCRIPTION
The subject property comprises a brick built retail premises beneath flat roof with retail over ground and first floors.
ACCOMMODATION
Ground Floor 259.75m² 2,796ft²
First Floor 237.27m² 2,554ft²
Total 497.02m² 5,349ft²
THE TENANT
Heron Foods Ltd. is an English retail chain founded in 1979 and based in Melton with 293 stores as of 1 July 2020 predominantly located in the North of England and the midlands area. Annual performance shown below:
Year End[use Contact Agent Button]
Turnover £434,592,000 £409,205,000 £372,077,000
Profit £ 9,155,000 £ 8,228,000 £ 5,640,000
Shareholder £ 64,886,000 £ 55,731,000 £ 47,503,000
RATING ASSESSMENT
Description RV Estimated Rates Payable
Shop and Premises £44,750.00 £22,330.25
We are advised that the rateable value of the premises as of 1 April 2017 is £44,750 and we have estimated the accrual rates payable for the current year above. This is based on the standard Small Business Rate of 49.9p in the pound. However, interested parties should confirm the current position with the Local Authority.
EPC RATING
C67
THE LEASE
The property is let to Heron Foods Ltd from August 2015 for a term of 17.5 years with a passing rent of £65,680.24 and rental increases linked to CPI (subject to a minimum of 1% and a maximum of 3%) annually compounded.
ASKING PRICE
Our client is seeking Freehold offers in the region of £850,000 (eight hundred fifty thousand pounds) reflecting a net yield of 7.32%
VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.
LEGAL COSTS
Each party is to bear their own legal costs involved in the transaction.
MONEY LAUNDERING REGULATIONS
In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
The property is situated on busy pedestrianised Blandford Street in the City Centre of Sunderland, close to the Bridges Shopping Centre. Neighbouring occupiers include Holland & Barrett, Yorkshire Bank, Santander Bank, other national retailers and local amenities.
DESCRIPTION
The subject property comprises a brick built retail premises beneath flat roof with retail over ground and first floors.
ACCOMMODATION
Ground Floor 259.75m² 2,796ft²
First Floor 237.27m² 2,554ft²
Total 497.02m² 5,349ft²
THE TENANT
Heron Foods Ltd. is an English retail chain founded in 1979 and based in Melton with 293 stores as of 1 July 2020 predominantly located in the North of England and the midlands area. Annual performance shown below:
Year End[use Contact Agent Button]
Turnover £434,592,000 £409,205,000 £372,077,000
Profit £ 9,155,000 £ 8,228,000 £ 5,640,000
Shareholder £ 64,886,000 £ 55,731,000 £ 47,503,000
RATING ASSESSMENT
Description RV Estimated Rates Payable
Shop and Premises £44,750.00 £22,330.25
We are advised that the rateable value of the premises as of 1 April 2017 is £44,750 and we have estimated the accrual rates payable for the current year above. This is based on the standard Small Business Rate of 49.9p in the pound. However, interested parties should confirm the current position with the Local Authority.
EPC RATING
C67
THE LEASE
The property is let to Heron Foods Ltd from August 2015 for a term of 17.5 years with a passing rent of £65,680.24 and rental increases linked to CPI (subject to a minimum of 1% and a maximum of 3%) annually compounded.
ASKING PRICE
Our client is seeking Freehold offers in the region of £850,000 (eight hundred fifty thousand pounds) reflecting a net yield of 7.32%
VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.
LEGAL COSTS
Each party is to bear their own legal costs involved in the transaction.
MONEY LAUNDERING REGULATIONS
In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
About this agent
We are a multi-disciplinary chartered surveying and property consultancy with more than 25 years’ experience of the local housing market. Operating primarily from our Durham, Gosforth and Alnwick offices, our residential team is made up of highly qualified, motivated staff who pride themselves on offering an unrivalled personal service to homebuyers and sellers. We guide you through the sales process from instruction through to completion and strive to make this journey as hassle-free as possible. With our in-depth local knowledge, we are best placed to provide advice on the valuation, acquisition, disposal and letting of a wide range of homes. Our extensive marketing and negotiation skills enable us to get the best deal for you in a timely and efficient manner. We also provide consultancy services on a diverse range of regeneration projects, from city centre residential developments to mixed-use out-of-town schemes.