Lot 19 42-46 Effingham Street & 2 Henry Street, Rotherham, S65 1AL

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Simon Bailey

simon.bailey@bidx1.com
07732681156

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BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Joe Hawthorne

jhawthorne@trowers.com
+44 (0) 161 838 2000
Description
Map
Viewings

Property Summary
  • Freehold retail investment
  • Entirely let to Boots UK Ltd until 2022
  • Prime town centre trading position
  • Approximately 2,415.00 sq m (25,985 sq ft)
  • Current rent £173,000 per annum
  • Reflecting a gross yield of 15.72%
Tenure

Freehold

Location

Rotherham is one of the major commercial centres of South Yorkshire and lies about 6 miles north east of Sheffield, 12 miles south west of Doncaster and 29 miles south of Leeds. It lies to the north of the M1 motorway, which can be accessed via junctions 33 and 34 and to the west of the M18 motorway, which can be accessed via junction 1. Rotherham Central Station provides regular services to Sheffield and Doncaster and the Rotherham Transport Interchange in the town centre provides almost 1,300 daily bus services having undergone a recent £12 million refurbishment programme.

The property lies in the heart of the pedestrianised shopping zone in the town centre and commands a prominent trading position at the junction of Effingham Street and Howard Street. The Cascades Shopping Centre is opposite and nearby occupiers include Halifax, Natwest, Argos, Superdrug and Poundland.

Description

An end of terrace building of traditional construction beneath a pitched roof and is arranged over ground, first and second floors totalling approximately 2,415.00 sq m (25,985 sq ft). The building is dual fronted and as such offers the potential to be split, subject to obtaining any necessary consents. The building may also lend itself to future alternative uses, subject to obtaining the necessary consents. To the rear of the property is a yard and service area that is accessed from Henry Street.

Tenancy

The original lease was granted to Boots The Chemists Ltd, which became Boots UK Ltd in 2007. For the year ending 31st August 2018, Boots UK Ltd reported a turnover of £6,790,000,000, a pre-tax profit of £398,000,000 and shareholders’ funds of £875,000,000 (source: Companies House).

Boots is the largest pharmacy and health and beauty chain in the UK and as at 31/08/2019 operated from 2,465 stores across the UK (source: www.boots-uk.com).

Planning

Rotherham Metropolitan Borough Council (01709 382121) www.rotherham.gov.uk

VAT
Please refer to Legal Documents
Property Table

Floor

Use

Sq M

Sq Ft

Tenant

Lease

Rent (PA)

Ground

First

Second

Retail

Ancillary

Ancillary

1,020.20

1,020.20

374.60

10,977

10,977

4,031

Boots UK Ltd (1)

35 years from 25/03/1987

£173,000

Total

 

2,415.00

25,985

 

 

£173,000

EPC

Rating 74 Band C


*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,000 (inclusive of VAT) charged by BidX1. In the case of a joint agent this administration fee will be £2,000 (exclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,500 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee of £1,000 inc. VAT payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.


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