Let to Caversham Trading Limited (t/a Brighthouse)
Approximately 5,349 sq ft
Prominent Town Centre location opposite Bouverie Place Shopping Centre
Nearby occupiers include Debenhams, Costa, Boots the Chemist and WH Smith
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 47
Auction 25th May 2017
Rent £65,000 per Annum Exclusive
Status Sold
Price £550,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
8 miles south-west of Dover, 15 miles south-east of Ashford, 70 miles south-east of central London
Roads
A20, A259, M20 (Junction 13)
Rail
Folkestone Central Railway Station, Folkestone International (Eurotunnel) Station
Air
London Gatwick Airport
Situation
The property is prominently situated on the southern side of the pedestrianised Sandgate Road, in the heart of Folkestone town centre. Bouverie Place Shopping Centre is located opposite, with occupiers including Primark, Next, Sports Direct, TK Maxx, Poundland and New Look. Other nearby occupiers include Debenhams, Boots the Chemist, Costa, Wilko and WH Smith. NCP Car Park Bouverie Place is located close by and provides car parking for approximately 480 cars.
Tenure
Virtual Freehold. To be held for a term of 999 years from completion at a peppercorn rent.
Location
Miles
8 miles south-west of Dover, 15 miles south-east of Ashford, 70 miles south-east of central London
Roads
A20, A259, M20 (Junction 13)
Rail
Folkestone Central Railway Station, Folkestone International (Eurotunnel) Station
Air
London Gatwick Airport
Situation
The property is prominently situated on the southern side of the pedestrianised Sandgate Road, in the heart of Folkestone town centre. Bouverie Place Shopping Centre is located opposite, with occupiers including Primark, Next, Sports Direct, TK Maxx, Poundland and New Look. Other nearby occupiers include Debenhams, Boots the Chemist, Costa, Wilko and WH Smith. NCP Car Park Bouverie Place is located close by and provides car parking for approximately 480 cars.
Tenure
Virtual Freehold. To be held for a term of 999 years from completion at a peppercorn rent.
Description
The property comprises a triple fronted ground floor shop with basement ancillary accommodation, forming part of a larger building.
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 a triple fronted ground floor shop with basement ancillary accommodation, forming part of a larger building.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground/ Basement
Retail/ Ancillary
496.94 sq m
(5,349 sq ft)
CAVERSHAM TRADING LIMITED (1) t/a Brighthouse
10 years from 03/09/2010 on an effectively full repairing and insuring lease
£65,000
02/09/2020
Totals
496.94 sq m
(5,349 sq ft)
£65,000
(1) For the year ending 31st March 2016, Caversham Trading Limited reported a turnover of £67,282,000, pre-tax profits of £4,579,000 and a total net worth of £59,973,000. With over 270,000 customers, Brighthouse is the UK's leading rent-to-own retail chain, providing quality branded home electronics, domestic appliances and household furniture to customers on weekly payments. They currently trade from over 300 stores nationwide (Sources: Experian Group and www.brighthouse.co.uk 24/04/2017).