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    Key features

    • To be offered Wednesday 8 May
    • High Yielding Mixed Use Investment
    • Ground Floor Retail
    • Upper Parts Not in Use
    • Let to H&T Pawnbrokers
    • Producing £17,500 per annum
    • 1,608 sq ft (149.4 sq m)
    • Upper Parts Offer Development/Conversion Potential (stp)
    • Prominent Unit with Return Frontage
    • Established Pedestrianised Location
    • Guide Price Reflects 14.6% Gross Yield

    Description

    The property comprises a high yielding investment opportunity let to the established High Street covenant of H&T Pawnbrokers. Arranged across ground and first floors, the property is let to Harvey and Thompson Limited on a lease expiring 25/05/2025 and paying £17,500 per annum. We understand that the tenant has provided informal confirmation of their willingness to renew the lease. However no formal proceedings have commenced.

    The upper parts are currently not in use and benefit from their own separate access at ground floor level. There may be potential for conversion of the upper parts to alternative uses, including residential (subject to obtaining the requisite consents).

    Bridge Street forms the principal retailing area in Worksop, running from the Priory Shopping Centre in the north to the Market Square in the south. The property occupies a prime pitch on the street with nearby occupiers including Superdrug, Halifax, Greggs and Iceland

    Additional information

    Tenure

    Freehold

    Tenancy

    The property is let to Harvey and Thompson Limited on a lease expiring 25/05/2025 and paying £17,500 per annum.


    We understand that the tenant has provided informal confirmation of their willingness to renew the lease. However no formal proceedings have commenced.


    Harvey & Thompson Limited


    • D&B Rating: 5A1
    • Turnover (2022): £173m
    • Pre-Tax Profit (2022): £19.4m
    • Total Assets (2022): £200.8m


    The tenant is part of H&T Group Plc; one of the UKs largest pawnbrokers with over 270 stores nationwide.

    Planning

    Whilst there are no extant planning consents, we consider the vacant upper parts may offer potential for conversion to alternative uses, including residential, subject to the existing lease and obtaining the requisite consents.

    Rent

    £17,500 per annum
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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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