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Lot 40 Click here for addendum

Gross Yield 10.2%
6 Week Completion

Situation

Occupying a prominent trading position in the heart of the town centre close to Market Place and Coopers Square Shopping Centre, adjacent to Betfred, directly opposite Lloyds Bank and amongst such multiples as HSBC, Specsavers, H.Samuel, Primark, Peacocks and many others.
Burton-upon-Trent benefits from easy access to the M6 Toll, via the A38, and is located approximately 25 miles north-east of Birmingham and 13 miles south-west of Derby.

Property

A mid-terraced building comprising a Ground Floor Shop with internal access to Ancillary Accommodation at first floor level.

Accommodation

Ground Floor Shop
Gross Frontage 21'0”
Internal Width 25'8” (max)
Shop & Built Depth 80'0”
Sales Area Approx. 1,655 sq ft
First Floor Ancillary
Store Area Approx. 950 sq ft
2 WCs
Total Area Approx. 2,605 sq ft

VAT is applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease to Midco Toys Ltd as a Toy Shop (having 2 branches) for a term of 15 years from 29th August 2013 (in occupation since 2010) at a current rent of £23,000 per annum exclusive.

Rent Reviews 2023

Tenan'ts Breaks 2021 and 2025

Note: The tenant did not exercise their August 2018 Break Clause.

*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.

169 High Street, Burton-upon-Trent, Staffordshire DE14 1JE