LOT 36

58 Wordsworth Road, Loughborough, Leicestershire, LE11 4LQ

LONG LEASEHOLD COMMERCIAL INVESTMENT
Guide price: £110,000 - £120,000*

Auction Date

Monday, 10th December 2018 11:00am

Location & Description

A ground floor shop forming part of a local parade, opposite a One Stop convenience store. Loughborough Hospital is about ½ mile away and the University is within about ¾ mile. Loughborough lies some 12 miles north of Leicester and 18 miles south east of Derby.

ACCOMMODATION (Based on VOA website)

Ground Floor Shop: 781 sq ft (72.6 sq m) incl WCs and external store.
Let on repairing and insuring lease to Coral Racing Ltd for 16 years from 28.02.2011 at £9,500 p.a. Rent Review 2021 by a minimum of 2.5% per annum compounded or open market rental value. The rent will therefore rise to a minimum of £10,748.38 in June 2021.

Lease Details

125 years from 14.11.2003 at a fixed ground rent of £10 p.a.

Note

1. The current rent was increased from £5,000 p.a. at the 2016 review. This was based on a minimum of £5,657 p.a. or open market rental value.
2. Ladbrokes and Coral merged in 2016 to create Ladbrokes Coral Group Ltd with some 3,500 branches. For the year ended 31.12.2016, Coral Racing Ltd reported a turnover of £867.4m a pre-tax profit of £91.1m and shareholders' funds of £215.7m

EQUIVALENT TO £9,500 p.a. RISING TO A MINIMUM OF £10,748.38 p.a. in 2021

Status

Sold for £110,000

* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.