2 Castle Street, Hinckley, Leicestershire, LE10 1DB

A prominent freehold town centre retail investment in Hinckley, Leics.

Guide price*

£119,000+

Plus fees

Sold for £120,000

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Lot 153 Commercial Investment
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Auction details:

Thursday 8th February 2024 @ 08:30AM

A Prominent Freehold Town Centre Retail Investment Let To Boots Opticians Current Rental Income £13,000 PA

Property Description

The property comprises a ground floor retail unit situated within an attractive corner building arranged over ground and upper floors. The freehold interest also includes 1, 1a and 1b The Brough and 2a Castle Street all of which have been sold subject to long leaseholds. The property provides a modern retail space with ancillaries over ground floor and basement and extends to approximately 1,196 sq. ft (111.12 sq.m), and serves as a long established Boots Opticians.

Location

The property occupies a highly prominent corner position fronting Castle Street with a return frontage to The Brough within the heart of Hinckley town centre.
There is a vibrant mix of independent and national retailers within the vicinity including Vodafone, HSBC, Subway, Greggs, Clarks and EE.
The Britannia Shopping Centre is a short walk along the pedestrianised Castle Street.
Hinckley is a market town in south west Leicestershire and is equal distance, approximately 12 miles, between Leicester and Coventry. There is good access to the motorway network via the M69, providing links to the M1 and M6.

Energy Performance Rating

E

Tenure

Freehold
2 Castle Street: Let by way of a 5 year lease to Boots Opticians Professional Services Ltd with effect from 25th December 2019, at a rent of £13,000 per annum.
1, 1a and 1b The Brough: Subject to two peppercorn long leaseholds expiring in 2130, at a peppercorn rent.
2a Castle Street: Subject to a lease for 999 years with effect from 18th October 2023 at a peppercorn rent.
We have not had sight of legal documentation relating to the above however copies will be available for inspection within the legal pack.

Value Added Tax

We understand VAT is not chargeable on this transaction.

Auctioneer's Note

Please note offers may be considered prior to the Auction Sale.

Viewings

Strictly by appointment with the Auctioneers.
DISCLAIMER

Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.

LIVE-STREAMED AUCTION

Please note that the Auction will be livestreamed via our website.  You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.

*DEFINITION OF GUIDE & RESERVE PRICE

All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.

COSTS AT AUCTION

When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding.  They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.

The sale of each lot is subject to an administration fee of £1,920 inc VAT (£1,600.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction.  Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.

Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.

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