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Lot 40Sold: £199,000

52a & 54 Market Street, Loughborough, Leicestershire LE11 3ER

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Lot 40 details

6 Week completion

SITUATION

Occupying an excellent trading position in the pedestrianised section of the town centre, opposite Peacocks, adjacent to Oxfam and amongst such other multiple traders as Santander, Tui, Poundland, Greggs, Costa Coffe and Cancer Research.
In addition, the property is close the junction with Market Place which hosts other traders including Boots, Primark and Superdrug as well as a Street Market.
Loughborough is a busy town lying some 12 miles north of Leicester and 21 miles south-east of Derby with excellent road access via the A6 which links to the M1.

PROPERTY

A mid terraced building comprising a Ground Floor Shop with internal and separate front access via a rear communal balcony to a Self-Contained Upper Part (previously a flat) currently used as Treatment Rooms/Ancillary Areas on the first and second floors.

ACCOMMODATION

No. 54 - Ground Floor Shop
Gross Frontage 16'8"
Internal Width 14'3"
widening to 15'3"
Shop & Built Depth 52'9"
Including 2 Treatment Rooms & WC

No. 52a - First & Second Floor (Previously a Flat)
First Floor:
3 Treatment Rooms
Wash Room, WC & external Store Area Approx. 240 sq ft
Second Floor:
3 Treatment Rooms, Staff Room & Shower Room Area Approx. 360 sq ft

VAT is applicable to this Lot

TENURE

Leasehold for a term of 2,000 years from completion at a peppercorn.

TENANCY

The entire property is let on a full repairing and insuring lease to S. Murphy as a Beauty Salon for a term of 20 years from 29th September 2004 at a current rent of £22,000 per annum exclusive (see Note 1).

Rent Review August 2022

Note 1: The tenant currently pays £17,600 p.a. by way of a personal concession which expires on 23rd June 2019 and is not binding on the Purchaser of the Freehold.

Note 2: £5,125 Rent Deposit held.

Note 3: We understand that the property has been used as a Beauty Salon for over 48 years.

Enquire about this lot:

Photo of JOHN BARNETT

John Barnett
020 8492 9449
jbarnett@barnettross.co.uk

Photo of STEVEN GROSSMAN

Steven Grossman
020 8492 9449
sgrossman@barnettross.co.uk

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Buyer or Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £750 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.