The property is a former Lidl Supermarket, disposed of by Lidl and is owned Freehold under Land Registry Title LT264986. The site measures 1.572 acres/ 0.636 hectares. The building is to be split into three units totalling 16,170 sq ft/ 1,520,40 sq m, all refurbishment works will be completed to bring the units to shell specification in line with the agreements to lease. The build contract has started and the programme is to run for 13 weeks, with practical completion expected for the beginning of September.
Copies of all three agreements to lease are available on request.
( Agency Pilot Software ref: 2248 )
Location
The site is located close to the center of Hinckley, a market town in south-west Leicestershire. The town is administered by Hinckley and Bosworth Borough Council and is the second largest town in the county behind Loughborough. Hinckley site about half-way between Leicester and Coventry (12 miles away) and is just north of Nuneaton. Hinckley is served by the A5 and M69, the A5 links Hinckley to Tamworth and the M42 in the north-west and Milton Keynes in the southeast. The M69 links Hinckley to Coventry and Leicester, but also the M1 and M6 Motorways. The property is 300m from Hinckley train station, providing direct line access to Birmingham and Leicester.
Terms
VAT The property is elected for VAT and VAT would be payable on the purchase. The intention would be to sell as a Transfer Of a Going Concern (TOGC).
EPCs Energy Performance Certificates will be sought, following the completion of the refurbishment works.
Specification
- 3 tenants with new 15-year leases.
- 16,170 sq ft of refurbished space.
- Asset held in an SPV holding this asset only.
- 5 year reviews, expected to £XXX pa.
- Average rent of £XXX per Sq Ft