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    Key features

    • To be offered on Wednesday 18 June
    • High Yielding Retail/Showroom Investment
    • Let to Clearance Zone Direct Ltd
    • 10 Year Lease Expiring 20.03.2034
    • 11,294 sq ft (1,049.24 sq m)
    • Current Rent Reflects a Low £2.04 per sq ft
    • Asset Management Potential
    • Established and Popular Location
    • Investment Let at £23,000 p.a. (15.3% GIY on Guide Price)
    • Guide Price Reflects £13.28 per sq ft

    Description

    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.

    Additional information

    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

    £23,000 per annum

    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.

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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