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