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Lot 8

Freehold Investment let to Boots UK Limited

Gross Yield 9.9%
6 Week Completion

Situation

Located in a prominent position in the centre of Prescot on the south side of Ecclestone Street, the principal pedestrianised retail thoroughfare in the town. Nearby occupiers include Heron Frozen Food, Betfred, William Hill, Oxfam, and Card Factory. The Prescot Shopping Centre is located close by which has been cited for development in the Knowsley Council Town Centre Master Plan.
Prescot is a popular commuter town located approximately 8 miles east of central Liverpool and close to Junction 2 of the M57 Motorway.

Property

A mid terraced building comprising a Ground Floor Shop with Ancillary Accommodation on the first floor. In addition, the property benefits from servicing to the rear via Aspinall Street.

ACCOMMODATION¹
Ground Floor Shop
Gross Frontage 26'0”
Built Depth 103'0”
Area Approx. 2,520 sq ft
First Floor Ancillary
Area Approx. 813 sq ft
Total Area Approx. 3,333 sq ft

¹Not inspected by Barnett Ross. Areas taken from V.O.A.

VAT is applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Boots UK Limited (having approx 2,500 branches) (T/O for Y/E 31/08/18 £6.79bn, Pre Tax Profit £398m and Shareholders' Funds £1.87bn) for a term of 10 years and 3 days from 29th March 2013 at a current rent of £32,818.59 per annum exclusive.

The rent is subject to annual increases of 1.5%. Therefore, the rent rises to £33,310.87 on 1st April 2021 and £33,810.53 on 1st April 2022.

Note: By way of a Deed of Variation, the tenant's March 2020 break clause was removed in lieu of a one year rent free period which expired in March 2019.

*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.

42 Eccleston Street, Prescot, Liverpool, Merseyside L34 5QJ