Auction House London

Lot 275

Retail Property (high street) - Commercial Property 

2-8 Effingham Street

Rotherham, South Yorkshire, S65 1AJ

Sold prior to auction for an undisclosed amount.

A Commercial Investment Arranged to Provide Five Retail Units Part Let Producing £85,200 Per Annum Reflecting a Gross Initial Yield of 11.7%

Description

The property comprises a retail parade comprising of five retail units over ground and two upper floors.

Tenure

Freehold

Location

The property is situated on a pedestrianised road close to local shops and amenities. Nearby multiples include Coral, Nationwide and EE. The open spaces of Minster Gardens are within easy reach. Transport links are provided by Rotherham Central rail station.

Current Rent Reserved

Current Rent Reserved £85,200 Per Annum

VAT

VAT is applicable

Accommodation & Tenancy Schedule

Property Floor Accommodation Tenancy Details Current Rent
Unit 2 Ground & First Retail Unit with Ancillary Space
Total G.I.A. Approximately 220 sq m
Let to Harvey and Thompson Limited (t/a H&T Pawnbrokers) on a 15 year FRI lease from 13th December 2010 £35,000 Per Annum with a reversion in 2025
Unit 3 Ground & First Retail Unit with Ancillary Space
Total G.I.A. Approximately 26 sq m
Let on a 6 year lease from 1st May 2021 with a break clause on 30th April 2026 £4,250 Per Annum (rising by £250 every year)
Unit 4 Ground & First Retail Unit with Ancillary Space
Total G.I.A. Approximately 98 sq m
Let to Cash Shop Limited on a 10 year lease from 5th November 2012 (Holding Over) £27,500 Per Annum
Unit 5 Ground & First Retail Unit with Ancillary Space
Total G.I.A. Approximately 125 sq m
Let to Greggs PLC on a 10 year FRI lease from 25th March 2010 (with a reversionary lease extending the existing lease by a further 5 years to expire on 24th March 2025 £18,450 Per Annum
8 Effingham Street Second Office
Total G.I.A. Approximately 273 sq m
Vacant Vacant

Joint Agent

Additional Fees and Disclaimer

Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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Sold Prior
For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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Enquire about 2-8 Effingham Street, Rotherham, South Yorkshire, S65 1AJ

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