Units 1 - 5 Taylors Square Beccles Suffolk NR34 9AT

Units 1 - 5
Taylors Square
Beccles
Suffolk
NR34 9AT

Prime Freehold Retail Parade Investment

  • Retail parade comprising five units
  • Weighted unexpired terms in excess of 8 years (subject to options)
  • Tenants trade as Iceland, Fat Face, Holland & Barrett and Laura Ashley
  • Town centre location opposite Tesco Superstore and car park
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    29
  • Auction
    22nd October 2015
  • Rent
    £249,000 per Annum Exclusive
  • Status
    Sold Post
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Prime Freehold Retail Parade Investment

  • Retail parade comprising five units
  • Weighted unexpired terms in excess of 8 years (subject to options)
  • Tenants trade as Iceland, Fat Face, Holland & Barrett and Laura Ashley
  • Town centre location opposite Tesco Superstore and car park
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 29
  • Auction 22nd October 2015
  • Rent
  • Status Sold Post
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
9 miles west of Lowestoft, 19 miles south east of Norwich
Roads
A146, A143
Rail
Beccles Rail Station
Air
Norwich International Airport
Situation

Beccles is an affluent market town on the Norfolk/Suffolk borders. The property is situated to the north-east of the town centre, directly opposite the Tesco supermarket, which provides approximately 442 car parking spaces. Other retailers in the vicinity include Costa Coffee, New Look and Beales Department Store.

Tenure

Freehold.

Location
Miles
9 miles west of Lowestoft, 19 miles south east of Norwich
Roads
A146, A143
Rail
Beccles Rail Station
Air
Norwich International Airport
Situation

Beccles is an affluent market town on the Norfolk/Suffolk borders. The property is situated to the north-east of the town centre, directly opposite the Tesco supermarket, which provides approximately 442 car parking spaces. Other retailers in the vicinity include Costa Coffee, New Look and Beales Department Store.

Tenure

Freehold.

Description

The property comprises five retail units arranged over ground and first floors in units 1 and 3, and ground floor only for units 2, 4 and 5.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises five retail units arranged over ground and first floors in units 1 and 3, and ground floor only for units 2, 4 and 5.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x. Review
1 Ground
First
Retail
Ancillary
91.69 sq m
85.75 sq m
(987 sq ft)
(923 sq ft)
FAT FACE HOLDINGS LIMITED (1) 15 years from 17/03/2009 until 16/03/2024 £50,000 17/03/2019
2 Ground Retail/Ancillary
108.97 sq m
(1,173 sq ft)
HOLLAND & BARRETT RETAIL LIMITED (2) 15 years from 12/03/2009 until 11/03/2024 £36,000 12/03/2019
3 Ground
First
Retail/Ancillary
Retail
158.03 sq m
111.48 sq m
(1,701 sq ft)
(1,200 sq ft)
ANGLING DIRECT LIMITED (3) Approx. 13 years 2 months from 28/04/2011 until 12/06/2024 £32,500 15/06/2019
4 Ground Retail/Ancillary
455.96 sq m
(4,908 sq ft)
ICELAND FOODS LIMITED (4) 15 years from 01/07/2013 until 28/06/2028 (5) £77,500 01/07/2018
5 Ground Retail/Ancillary
376.63 sq m
(4,054 sq ft)
LAURA ASHLEY LIMITED (6) 15 years from 19/05/2008 until 18/05/2023 (7) £53,000 19/05/2018 (8)
Totals    
1,388.51 sq m
(14,946 sq ft)
    £249,000  

(1) For the year ending 31st May 2014, Fat Face Holdings Limited reported a turnover of £12,083,000, pre-tax profits of £15,270,000 and a total net worth of £68,991,000. (Source: www.riskdisk.com 27/08/2015)
(2)For the year ending 30th September 2014, Holland & Barratt Retail Limited reported a turnover of £368,823,000, pre-tax profits of £89,463,000 and a total net worth of £260,473,000. (Source: www.riskdisk.com 27/08/2015)
(3)Angling Direct is a local company operating out of eight retail stores around Norfolk, Essex, Suffolk and Kent. The company also has a large online business and is rated as the number 1 fishing tackle shop online in the UK. (Source: www.anglingdirect.co.uk 27/08/2015). The lease is guaranteed by Hillages Limited.
(4)For the year ending 27th March 2015, Iceland Foods Limited reported a turnover of £2,682,021,000, pre-tax profits of £58,794,000 and a total net worth of £709,630,000. (Source: www.riskdisk.com 27/08/2015)
(5)The lease to Iceland Foods Limited provides an option to determine on the tenth anniversary of the term.
(6)For the year ending 25th January 2014, Laura Ashley Limited reported a turnover of £287,758,000, pre-tax profits of £19,144,000 and a total net worth of £104,792,000. (Source: www.riskdisk.com 27/08/2015)
(7)The lease to Laura Ashley Limited provides a tenant option to determine on 18th May 2018, subject to a £87,500 penalty. Refer to the legal pack for further details.
(8)The 2018 rent review is capped at 1.75% per annum compounded.

Property Documents

  • Catalogue Page
    Updated Date
    03.03.22
    File Size
    714 KB
    View PDF
  • Site Plan
    Updated Date
    03.03.22
    File Size
    96 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Associate Auctioneers
Fawcett Mead 37/38 Margaret Street
London
W1G 0JF
James Mead 020 7182 7481 07919 622 542James@fawcettmead.co.uk
Seller's Solicitors
Teacher Stern LLP 37-41 Bedford Row
London
WC1R 4JH
Artan Llabjani 020 7611 2315a.llabjani@teacherstern.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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