5–7 Stockwell Gate, Mansfield, Nottinghamshire NG18 1JY
Barnett Ross Property AuctioneersBarnett Ross was formed in October 2002, drawing upon the combined 60 year's auction experience of John Barnett and Jonathan Ross, and immediately established itself as one of the largest independent auction houses in the U.K.
Read more Read moreLot 5 Freehold Town Centre Retail Investment t/a Admiral Casino - Gross Yield 10.6% 6 Week Completion Situation Located between Market Place and Queen Street and diagonally opposite an entrance to the Four Seasons Shopping Centre , in the heart of this pedestrianised town centre amongst multiples such as Superdrug , Halifax , Santander , Timpson , Nationwide , Greggs and many others. Mansfield is an historic market town which lies some 13 miles north of Nottingham and 11 miles south-east of Chesterfield benefitting from excellent road access via the M1 (Junctions 28 & 29). Property An attractive Grade II Listed mid-terrace building comprising a Ground Floor Shop with internal access to Ancillary Accommodation on first, second and third floors (See Note 1) . The property includes a Parking Area at the rear for 3 to 4 cars (See Note 2) . VAT is applicable to this Lot FREEHOLD Accommodation¹ Ground Floor Shop Gross Frontage 35'8" (not including gated entrance) Internal Width 28'0" (max) Shop Depth 63'4" Built Depth Area Approx. 2,002 sq ft WC First Floor Area Approx. 1,015 sq ft Second Floor Area Approx. 1,138 sq ft Third Floor (not inspected) Area Approx. 430 sq ft Total Area Approx. 4,585 sq ft ¹Areas taken from VOA. Tenancy The property is let on a full repairing and insuring lease (subject to a schedule of condition) to Luxury Leisure t/a Admiral Casino (having over 230 branches) (Parent Company - Novomatic UK Limited - visit: novomaticuk.com) (T/O for Y/E 31/12/2023 £141m, Pre-Tax Profit £14.8m and Shareholders' Funds £56.9m) for a term of 10 years from 30th September 2024 at a current rent of £42,500 per annum exclusive. Rent Review & Tenant's Break September 2029 Note 1: Three rooms on the second floor are not demised to the Tenant - See Lease. Note 2: The rear Parking Area is not demised to the Tenant and is therefore Vacant - See red hatched area on Ordnance Survey Map. Note 3: There may be potential to convert the upper parts to residential use subject to obtaining possession and the necessary consents.
