52/53 Market Street, Loughborough, Leicestershire LE11 3ER

SITUATION
Occupying an excellent trading position in the pedestrianised section of the town centre, opposite Peacocks and amongst such other multiple traders as Santander, Poundstretcher, TUI, Greggs, Costa Coffee and Cancer Research.
In addition, the property is close to the junction with Market Place which hosts other traders including Boots 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 rear access via a front communal passageway to Ancillary Office/Store on the first and second floors.

VAT is applicable to this Lot

TENURE
Leasehold for a term of 2,000 years from 25th December 2017 at a peppercorn ground rent.

ACCOMMODATION
Ground Floor Shop
Gross Frontage 16'3"
Internal Width 14'1"
widening at rear to 16'1"
Shop Depth 43'3"
Built Depth 46'1"

First Floor
Office/Store Area Approx. 315 sq ft
WC

Second Floor
Office/Store Area Approx. 425 sq ft

TENANCY
The property is let on a full repairing and insuring lease to Oxfam (having over 500 branches) for a term of 5 years from 26th March 2011 (Holding over – in occupation since 1986) at a current rent of £16,540 per annum exclusive (see Note).

Note 1: The current rent paid is a personal concession from £18,300 p.a.

Note 2: There is potential to convert the upper floors to residential subject to obtaining possession and the necessary consents.

Note 3: 6 week completion.