Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding retail investment occupying a large first floor showroom.
Arranged across first and second floors with a prominent corner entrance at ground floor level, the property is let to Clearance Zone Direct Ltd on a 10 year lease expiring 20.03.2034 and paying £23,000 per annum.
The current passing rent reflects a very low £2.04 per sq ft and we therefore consider the property may benefit from asset management potential.
The tenant is an established local business with four stores throughout Yorkshire.
The property forms part of a popular local retail parade in the centre of Barnsley and benefits from a long frontage to Peel Street at first floor level, the area is characterised by a number of national retailers including Home Bargains, Costa, Taco Bell and Iceland. One of the principal public car parks (120 spaces) is immediately opposite.
Tenure
Freehold
Tenancy
The property is let to the Clearance Zone Direct Limited, a clearance retailer trading from four locations in Yorkshire, on a 10 year lease expiring 20.03.2034 and paying £23,000 per annum.
The lease includes a tenants break option in 2027 and an upward only open market rent review in 2029.
For the year ending 31.12.2022 the tenant reported shareholder funds of £486,726 and currently trades from four stores throughout Yorkshire
Rent
Notes
Please note that whilst the freehold of the property is being sold, all other parts of the property have been sold off on a long leasehold basis. Please consult the legal pack for more information.