52 - 54 Market Street Ely Cambridgeshire CB7 4LS

52 - 54 Market Street
Ely
Cambridgeshire
CB7 4LS

Freehold Retail Parade and Office Investment

  • Let to tenants including William Hill Organization Limited and South Staffordshire & Shropshire NHS Foundation Trust
  • Approximately 5,715 sq ft including vacant office unit
  • Retailers in Ely include Waitrose, Prezzo, Pizza Express, Caffè Nero and Fat Face
  • Short walk from Ely Cathedral - a popular tourist attraction
  • Attractive and affluent Cathedral City
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    16
  • Auction
    13th October 2016
  • Rent
    £65,257 per Annum Exclusive
  • Status
    Sold
  • Price
    £805,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

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

Freehold Retail Parade and Office Investment

  • Let to tenants including William Hill Organization Limited and South Staffordshire & Shropshire NHS Foundation Trust
  • Approximately 5,715 sq ft including vacant office unit
  • Retailers in Ely include Waitrose, Prezzo, Pizza Express, Caffè Nero and Fat Face
  • Short walk from Ely Cathedral - a popular tourist attraction
  • Attractive and affluent Cathedral City
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 16
  • Auction 13th October 2016
  • Rent
  • Status Sold
  • Price £805,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG

Property Information

Location
Miles
14 miles north-east of Cambridge, 28 miles south of King’s Lynn
Roads
A10, A142
Rail
Ely Railway Station
Air
London Stansted Arport
Situation

Ely is an attractive City which is dominated by the large Norman Cathedral that is a popular tourist attraction. The property is located on the northern side of Market Street, opposite Chequer
Lane, only a short walk from the Cathedral. Nearby occupiers include Waitrose, Boots the Chemist, Wilko, Sports Direct, Savers Health & Beauty, Fat Face, Mountain Warehouse, Costa, New Look and Prezzo.

Tenure

Freehold.

Location
Miles
14 miles north-east of Cambridge, 28 miles south of King’s Lynn
Roads
A10, A142
Rail
Ely Railway Station
Air
London Stansted Arport
Situation

Ely is an attractive City which is dominated by the large Norman Cathedral that is a popular tourist attraction. The property is located on the northern side of Market Street, opposite Chequer
Lane, only a short walk from the Cathedral. Nearby occupiers include Waitrose, Boots the Chemist, Wilko, Sports Direct, Savers Health & Beauty, Fat Face, Mountain Warehouse, Costa, New Look and Prezzo.

Tenure

Freehold.

Description

The property comprises three ground floor shops with separately accessed office accommodation at part ground and first floors, with access from Market Street. The shop trading as a Costcutter has a Post Office within the unit.

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 three ground floor shops with separately accessed office accommodation at part ground and first floors, with access from Market Street. The shop trading as a Costcutter has a Post Office within the unit.

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/(Reversion)
1 Ground Retail/Ancillary 11.80 sq m (127 sq ft) I-VAPO LIMITED
t/a Phoenix Electronic Cigarettes (1)
6 years from
04/12/2015 (2)
£6,000 (03/12/2021)
2 Ground Retail/Ancillary 211.17 sq m (2,273 sq ft) INDIVIDUAL
t/a Costcutter (3)
15 years from
06/02/2015 (4)
£27,000 06/02/2020 and
06/02/2025
(05/02/2030)
3 Ground Retail/Ancillary 68.10 sq m (733 sq ft) WILLIAM HILL
ORGANIZATION
LIMITED (5)
6 years from
10/05/2016
£17,500 (09/05/2022)
Rear Offices Ground/First Offices/Ancillary 166.20 sq m (1,789 sq ft) SOUTH STAFFORDSHIRE
AND SHROPSHIRE
HEALTHCARE NHS
FO UNDATION TRUST
t/a NHS Market Street
Health Group
5 years from
01/04/2016 (6)
£14,757 01/04/2019
(31/03/2021)
Front Offices First Offices/Ancillary 73.67 sq m (793 sq ft) VACANT      
Totals     530.94 sq m (5,715 sq ft)     £65,257  

(1) Phoenix Electronic Cigarettes trade from around 28 other shops in the UK (Source: www.phoenixliquids.co.uk 13/09/2016).
(2) The lease provides an option to determine on 4th December 2018.
(3) Costcutter is part of Costcutter Supermarkets Group which is a predominantly franchise business with over 2,500 convenience stores, trading under Costcutter, Mace, kwiksave and Supershop, throughout the UK and Republic of Ireland. (Source: www.costcutter.co.uk 16/09/2016)
(4) The lease provides for a tenant option to determine on 6th February 2018 and 6th February 2023.
(5) William Hill employ around 16,000 staff with 2,371 betting offices in the UK. For the year ending 29th December 2015, William Hill Organization Limited reported a turnover of £873,900,000, pre-tax profits of £246,400,000 and a total net worth of £625,000,000 (Sources: www.williamhillplc.com and Experian Group 12/09/2016).
(6) The lease is due to complete imminently and provides an option to determine on the 3rd anniversary of the term.

Property Documents

  • Site Plan
    Updated Date
    21.09.16
    File Size
    101 KB
    View PDF
  • Catalogue Page
    Updated Date
    21.09.16
    File Size
    586 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

Seller's Solicitors
Eversheds LLP 1 Callaghan Square
Cardiff
CF10 5BT
029 2046 4347
David Farmer 029 2047 7887davidfarmer@eversheds.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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