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Lot 8 Click here for addendum

BY ORDER OF TRUSTEES of a major pension fund
6 Week completion

SITUATION

Located close to the junction with Easthorpe Street, nearby such multiples as Coral, The Nottingham Building Society and a Post Office and a host of established independent traders all serving the local community.
Ruddington is a popular village approximately 4 miles south of Nottingham city centre, enjoying excellent road links to the M1 (Junction 24) via the A453.

PROPERTY

A detached building comprising a Ground Floor Supermarket with Storage/Staff Accommodation at the rear. In addition the property includes a Car Park for approx. 12 vehicles.

ACCOMMODATION

Ground Floor Supermarket
Gross Frontage 55'5"
Internal Width 53'6"
Shop Depth 50'4"
Built Depth 71'1"
Sales Area Approx. 2,655 sq ft
Store Area Approx. 1,235 sq ft plus WC's
Total Area Approx 3,890 sq ft

VAT is applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to Sainsbury's Supermarkets Ltd (having over 1,200 supermarkets and convenience stores) (T/O for Y/E 12/03/2016 £23.17bn, Pre-Tax Profit £406m and Shareholders' Funds £4.6bn) for a term of 15 years from 22nd February 2011 at a current rent of £59,332 per annum exclusive.

Rent Review February 2021 in line with RPI subject to a minimum uplift of 5.101% (1% per annum compounded) and a maximum 18.7686% (3.5% per annum compounded). The minimum rent increase in 2021 will therefore be £62,359 p.a. and the maximum rent increase will be £70,468 p.a.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

10–14 Wilford Road, Ruddington, Nottinghamshire NG11 6EN