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Shop Premises For Sale , 76 Spring Gardens, Buxton, SK17 6BZ

1,005 Sq Ft / Retail / Retail - High Street

For Sale - £230,000.00

Available - Last updated: 12 June 2021

Retail investment property, providing sales accommodation at ground floor with ancillary accommodation at first floor.
( Agency Pilot Software Ref: 33737 )

Location

Buxton is a Roman Spa town located on the edge of the Peak District National Park, a very popular tourist destination, known as ‘The Gateway to the Peak District’. The town has a population of 22,000 persons and is situated 22 miles south east of Manchester and 24 miles west of Sheffield. The town includes some of the most architecturally significant buildings in the country including Buxton Opera House, The Devonshire Dome and The Crescent. The restoration of the Buxton Crescent & Spa is now complete. The Grade I listed building houses 80 luxury bedrooms, a state of the art Spa and various function rooms. The subject unit is centrally positioned on Spring Gardens, the main pedestrianised retail thoroughfare in the town, close to Spring Gardens Shopping Centre which is anchored by Waitrose.

Accommodation

Ground floor 53.71 Sq. m (578 Sq. ft )

First floor 39.68 Sq. m (427 Sq. ft )

Total 93.39 Sq. m (1,005 Sq. ft)

Terms

Lease The premises are let to Hays Travel Limited on a term of 10 years from 6th April 2020 at a commencing rental of £15,000 per annum exclusive, subject to an upward only rent review at the end of the 5th year. The lease also includes a tenant option to break after 5.5 years

Tenant covenant Hays Travel Limited acquired the premises as part of the purchase of the Thomas Cook business in October 2019. Based on the trading performance of the store, Hays Travel Limited recently completed a new 10 year lease in return for a rent free period. Further details are available upon request. Hays Travel Limited was formed in 1980 and by May 2018, its sales had reached £1 billion. The Dunn & Bradstreet Financial Strength Rating for the company is 5A based on a current Tangible Net Worth of £46,138,000

Rates Due to the pandemic there is ongoing Government support during 2021/22. The VOA website shows a Rateable Value of £15,000. For rates payable from 1st April 2021 please refer to the Local Charging Authority. High Peak Borough Council - 01298 28400,

Terms of sale Offers in the region of £230,000 are sought for the Freehold interest, excluding VAT and standard purchaser's costs.

Specification

  • Affluent and historic market town.
  • Let to Hays Travel Limited.
  • New 10 year lease agreed.

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £230,000.00 NA

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Damian Sumner

Brasier Freeth

020 3151 8745



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