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Lot 10 Click here for addendum

Freehold Shopping Centre and Transport Interchange incl. Multi-Storey Car Park
Gross Yield 15.6%

Situation

Located in the heart of Rotherham town centre and fronting the pedestrianised Frederick Street to the south and including the Transport Interchange (Bus Station and a 430 space multi-storey car park).
Nearby retailers include Superdrug, Poundland, Argos, Bonmarche and Heron Food. In addition, there is a Tesco Extra Superstore situated approx. 100 yards to the east.
Rotherham is a major commercial centre in South Yorkshire lying approx. 6 miles north-east of Sheffield and enjoying excellent road access via the M1 (Junction 33) and the M18 (Junction 1).

Property

College Walk was developed in 1995 and comprises:

16 Ground Floor Retail Units each with Ancillary Space at first floor which include a 15,679 sq ft Unit occupied by Home Bargains. Additionally, there is a Self-Contained First Floor Office Suite with its own ground floor entrance occupied by Adecco.
The units have frontages either to Frederick Street or to the attractively covered pedestrian approach which links the transport facilities of Rotherham Interchange to the town centre and ensuring a flow of footfall.

Rotherham Interchange is the town's central Bus Station connecting Rotherham with Sheffield, Doncaster, Barnsley and other surrounding towns. The Interchange, operated by South Yorkshire Public Transport Executive “SYPTE”, includes a 430 space multi-storey car park.

VAT is applicable to this Lot

FREEHOLD

Note 1: Over 90% of the rental income is secured on national multiple covenants. Additionally, there are opportunities to increase the rental income.

Note 2: The predominance of national multiple retailers within the Centre is testimony to the strength of its trading location.

Note 3: Demonstrating their commitment to the location, Greggs have agreed to the removal of their Break Clause in 2021 ensuring occupation until Dec 2026. In addition, it is understood that the underlessee of Unit 4, Fulton Foods, has signed a reversionary lease providing for a term certain until December 2026.

Note 4: SYPTE's ground lease has only 75 years unexpired which may afford significant asset management or development potential.

Note 5: A Master Plan for Rotherham envisages a number of developments to transform and revitalise the town centre, with a vibrant leisure scheme on Forge Island, attractive outdoor spaces, revitalised market complex and high quality riverside living (Source: www.rotherham.gov.uk).

Note 6: 6 Week Completion

Enquire about this lot:

JOINT AUCTIONEER:
John Freedman & Co
Tel: 020 7289 2000 / 07933 183 231 Ref: JF
john.freedman@btconnect.com

*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.

College Walk Shopping Centre, Rotherham, South Yorkshire S60 1QB