Lease expires in September 2024 (subject to option)
Approximately 4,817 sq ft
Nearby occupiers include WH Smith, Superdrug, Costa Coffee and Boots the Chemist
Attractive Herefordshire Market Town
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 30
Auction 25th May 2017
Rent
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
16 miles west of Gloucester, 24 miles south-west of Worcester
Roads
A40, A449, M50
Air
Bristol Airport
Situation
The property is located on the eastern side of Broad Street, north of its junction with Market Place and High Street, in the heart of the town centre. The Maltings Shopping Centre is located nearby housing occupiers including Sainsbury's Supermarket, Holland & Barrett and The Original Factory
Shop. Other nearby occupiers include WH Smith, Superdrug, Costa Coffee and Boots the Chemist.
Tenure
Freehold.
Location
Miles
16 miles west of Gloucester, 24 miles south-west of Worcester
Roads
A40, A449, M50
Air
Bristol Airport
Situation
The property is located on the eastern side of Broad Street, north of its junction with Market Place and High Street, in the heart of the town centre. The Maltings Shopping Centre is located nearby housing occupiers including Sainsbury's Supermarket, Holland & Barrett and The Original Factory
Shop. Other nearby occupiers include WH Smith, Superdrug, Costa Coffee and Boots the Chemist.
Tenure
Freehold.
Description
The property comprises two ground floor shops with sales/ancillary accommodation on the first floor and ancillary accommodation on the second/attic floor. Part of the property (49 Broad Street) comprises a self-contained lock-up shop and is not currently being used by the tenant.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises two ground floor shops with sales/ancillary accommodation on the first floor and ancillary accommodation on the second/attic floor. Part of the property (49 Broad Street) comprises a self-contained lock-up shop and is not currently being used by the tenant.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
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
49-49a
Ground First Second/Attic
Retail/Ancillary Retail/Ancillary Ancillary
253.43 sq m 172.70 sq m 21.37 sq m
(2,728 sq ft) (1,859 sq ft) (230 sq ft)
PEACOCKS STORES LIMITED (1)
25 years from 29/09/1999 until 28/09/2024 (2) on a full repairing and insuring lease (3)
£37,666 (4)
29/09/2019
Totals
447.50 sq m
(4,817 sq ft)
£37,666 (4)
(1) For the year ending 27th February 2016, Peacocks Stores Limited reported a turnover of £369,711,000, a pre-tax profit of £67,879,000 and a total net worth of £141,072,000 (Source: Experian Group 12/04/2017). Peacocks is part of the Edinburgh Woollen Mill Group which includes brands such as Edinburgh Woollen Mill, Jane Norman and Ponden Home (Source: www.peacockscorporate.co.uk 12/04/2017). (2) The lease is subject to a tenant only break option on 31st March 2022, subject to six months’ prior written notice. (3) The lease is full repairing and insuring subject to a Schedule of Condition. (4) The tenant is currently benefiting from a rent free period from 1st April 2017 until 30th September 2017 as a result of the tenant break option moving from 28th September 2017 to 31st March 2022. The vendor has agreed to adjust the completion monies so that the property effectively produces £37,666 per annum from completion of the sale.