For the Seller's Legal Pack, please click the Property Documents tab below
Lot 11
Auction 19th May 2016
Rent
Status Sold
Price £775,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
13 miles south of Royal Tunbridge Wells, 16 miles north of Eastbourne, 23 miles north-east of Brighton
Roads
A21, A22, A265
Air
Gatwick Airport
Situation
The property is prominently situated on the northern side of High Street, close to its junction with Station Road, in the heart of the town centre. Other nearby occupiers include Costa Coffee and
branches of Lloyds, NatWest and Barclays banks, with a recently opened Waitrose, Sainsbury’s and Tesco Express also represented in the town.
Tenure
Freehold.
Location
Miles
13 miles south of Royal Tunbridge Wells, 16 miles north of Eastbourne, 23 miles north-east of Brighton
Roads
A21, A22, A265
Air
Gatwick Airport
Situation
The property is prominently situated on the northern side of High Street, close to its junction with Station Road, in the heart of the town centre. Other nearby occupiers include Costa Coffee and
branches of Lloyds, NatWest and Barclays banks, with a recently opened Waitrose, Sainsbury’s and Tesco Express also represented in the town.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation, with ancillary accommodation on the first floor. The property benefits from rear loading at first floor level and benefits from a free public
car park to the rear with parking for approximately 40 cars.
Six Week Completion
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 ground floor retail accommodation, with ancillary accommodation on the first floor. The property benefits from rear loading at first floor level and benefits from a free public
car park to the rear with parking for approximately 40 cars.
Six Week Completion
VAT
VAT is applicable to this lot.
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
Reviews/ (Reversion)
Ground First
Retail/Ancillary Ancillary
361.11 sq m 248.33 sq m
(3,887 sq ft) (2,673 sq ft)
THE FACTORY SHOP LIMITED (1)
16 years from 14/09/2015 (2) on a full repairing and insuring lease
£65,000
14/09/2021 14/09/2026 (13/09/2031)
Totals
609.44 sq m
(6,560 sq ft)
£65,000
(1) For the year ending 29th March 2015, The Factory Shop Limited, with a D & B rating of 5A 2, reported a turnover of £174,334,000, pre-tax profits of £7,855,000 and a total net worth of £44,438,000. The Original Factory Shop trade from over 200 stores nationwide (Sources: Experian Group & www.theoriginalfactoryshop.co.uk 31/03/2016). (2) The lease is subject to a tenant option to determine on 14th September 2026, subject to 9 months’ prior written notice and a £32,500 penalty if exercised.