Home > Auctions > 23 & 24 July 2024 23 July 2024 - 9:30am > Lot 61

23 & 24 July 2024: Tuesday 23 July 2024 - 9:30am
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    Key features

    • To be offered on Tuesday 23 July
    • Freehold High Yielding Retail Investment
    • Investment let at £114,500 pa (24.11% on Guide Price)
    • Lease expires in March 2035
    • Substantial building comprising approximately 500.25 sq m (5,385 sq ft)
    • Barnsley Train Station is located circa 420m from the property
    • Pedestrianised town centre location, in main retail thoroughfare, adjacent to Yorkshire Building Society
    • Nearby occupiers include Marks & Spencer, Holland & Barrett, H. Samuel, Greggs, Halifax, New Look, Specsavers, Costa Coffee, Superdrug and the New Barnsley Market
    • 6 Week Completion Available

    Description

    The property comprises a substantial building of approximately 500.25 sq m (5,385 sq ft) over basement, ground, mezzanine, first and second floors. The mezzanine and upper floors are occupied by Kwik Tan (part of Admiral).

    Additional information

    Tenure

    Freehold.

    Accommodation

    Please note the approximate areas have been provided by the VOA/Vendor and the property has not been internally inspected by Savills. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site.


    Ground - 167.77 sq m (1,806 sq ft)

    Basement - 70.14 sq m (755 sq ft)

    Mezzanine (Kwik Tan) - 35.95 sq m (387 sq ft)

    First (Kwik Tan) - 150.68 sq m (1,622 sq ft)

    Second - 75.71 sq m (815 sq ft)


    Total - 500.25 sq m (5,385 sq ft)

    Tenancy

    Let to Luxury Leisure on a Full Repairing and Insuring (FRI) lease for 15 years from 25 March 2010 expiring on 24.03.25 and then on a reversionary 10 year lease from 25.03.25 expiring 24.03.2035 (subject to an option to determine the lease in March 2030).


    Open Market Rent Review on 25.03.2025


    Luxury Leisure (t/a Admiral Casino)


    • D&B Rating - 4A1
    • Turnover (2022) - £111m
    • Pre-Tax Profit (2022) - £15.4m
    • Employees - 1,520


    Admiral are one of the best known gaming brands in the UK with over 230 stores nationwide.

    Rent

    £114,500 pa

    Notes

    We understand the property is elected for VAT, it is anticipated the sale will be treated at a Transfer of a Going Concern (TOGC).


    Please Note - We wish to inform prospective buyers of this property that the seller is a relation to an employee of Savills.

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        Local information

        Barnsley is the largest retail, administrative and commercial centre in the Barnsley Metropolitan Borough of South Yorkshire, situated approximately 24 km (15 miles) north of Sheffield and 32 km (20 miles) south of Leeds. The town is served by Junction 37 of the M1 which provides direct access to the M62 and M18 motorways. Barnsley Rail Station provides regular rail services to Sheffield (25 minutes), Leeds (32 minutes) and Wakefield (15 minutes). The property is situated on the west side of the pedestrianised Cheapside at its junction with Albert Street East. Nearby occupiers include Marks & Spencer, Holland & Barrett, H. Samuel, Greggs, Halifax, Superdrug and Barnsley Market.

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        EPC rating

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        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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