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Lot 10

Freehold Commercial Investment let to JD Sports Fashion plc – Gross Yield 12.1%
6 Week Completion

Situation

Located in the town's main pedestrianised retail thoroughfare amongst such multiple retailers as B&M Bargains, Iceland, Shoe Zone, Vodafone, Greggs, Specsavers, Halifax and many others.
In addition, The Priory Shopping Centre nearby houses a variety of traders including Poundland, Burger King and more.
Worksop is located approximately 15 miles east of Sheffield and 23 miles north of Nottingham, enjoying excellent road access to the M1 (Junction 31) via the A57.

Property

A mid terrace Deep Lofty Ground Floor Shop with Storage/Ancillary at the rear.

Accommodation

Ground Floor Shop
Gross Frontage 22'11”
Internal Width 18'11”
Shop Depth 61'7”
Built Depth 88'8”
Area Approx. 1,364 sq ft¹
WC

¹Area taken from VOA.

Note: The Freeholder has the right to use the passageway to the rear of the property by way of a 999 year lease at a rent of £1,656 p.a. which is fully recovered from JD Sports. The rights demised over the passageway are for making deliveries, disposing of refuse and for escape in case of fire or other emergency - See legal pack.

VAT is applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to JD Sports Fashion Plc (having over 400 branches in the UK) (T/O for Y/E 28/01/23 £10.13bn, Pre-Tax Profit £440.9m and Shareholders' Funds £2.12bn) for a term of 3 years from 13th July 2023 (renewal of a previous lease) at a current rent of £17,500 per annum exclusive.

Tenant's Break July 2025

*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.

1 Bridge Street, Worksop, Nottinghamshire S80 1DS