The property comprises a double fronted retail unit arranged over ground and first floor, being of a traditional brick construction, having been extended to the rear and incorporating pebble dashed elevations, under a predominantly slate covered pitched roof with additional flat felted roofs to the rear.
The property incorporates UPVC double glazed window units at first floor level and a glazed shop fascia at ground floor level.
In recent years the Local Authority have undertaken ‘Public Realm’ improvements to the pedestrian walkway incorporating parking bays directly to the front of the property.
Internally, the accommodation is configured to provide a substantial ground floor retail unit currently occupied by William Hill, fitted out in their ‘house style’ together with a self contained first floor residential unit with independent access, providing reception room, dining room, kitchen and four bedrooms.
Location
The property is located within the town of New Ollerton fronting Forest Road (A6075), to the south within a predominantly residential district, forming part of a popular and busy neighbourhood retail thoroughfare, including neighbouring occupiers Boyes, The Post Office, Lloyds Bank and Heron Foods, to name but a few.
In addition, Tesco, Asda and Boots are within close proximity.
Accommodation
Measured in accordance with the RICS Code of Measuring Practice (6th Edition), we calculate the property provides the following approximate areas:
Ground Floor: 222.77 sq m (2,398 sq ft)
First Floor: 110.55 sq m (1,190 sq ft)
Terms
Rateable Value
Rateable Value: £20,250
Rates Payable (2017/2018): £9,436.60
Tenure
The property is held freehold.
EPC
The property has an EPC Rating of D81
Tenancies
Let to William Organisation Limited for a term of 20 years with effect from 17 March 2005 at a rental of £16,000 per annum, therefore presently having 7 years 10 months unexpired. The lease is subject to rent review on 17 March 2020. In addition, the first floor is let on an Assured Shorthold Tenancy at an additional £4,200 per annum, namely a total rental of £20,200 per annum.
Covenant
William Hill plc is a FTSE 250 Company and is the UK’s largest land-based bookmaker with 2,375 licensed betting shops in the UK. William Hill Organisation Limited has a D&B Rating N1 and for the year ending 29 December 2015, reported a turnover of £873,900,000 and a pre-tax profit of £246,400,000.
Price
Offers are sought in the region of £320,000 (Three Hundred and Twenty Thousand Pounds) which reflects a NIY of 6.02%, assuming purchasers costs of 4.80%.
VAT
To be confirmed.
Legal Costs
Each party will be responsible for their own legal costs incurred in the transaction.
Specification
- Prominently located fronting Forest Road (A6075) within a busy retail thoroughfare.
- Neighbouring occupiers include Boyes, The Post Office, Lloyds Bank, Heron Foods, Tesco, Asda and Boots.
- Let to William Hill Organisation Limited for a term of 20 years with effect from 17 March 2005 at a rental of £16,000 per annum and subject to rent review on 17 March 2020.
- First floor residential unit let on an AST at an additional £4,200 per annum.
- Offers are sought in the region of £320,000, which reflect a NIY of 6.02% assuming purchasers costs at 4.80%.