121A & 121B High Street Sittingbourne Kent ME10 4AQ

121A & 121B High Street
Sittingbourne
Kent
ME10 4AQ

Freehold Retail Investment

  • Let to Argos Limited and Duvetco Ltd
  • Argos in occupation since at least 1987
  • Prime High Street location
  • Nearby occupiers include Boots the Chemist, Wilko, LLoyds and Mothercare
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    54
  • Auction
    19th May 2016
  • Rent
    £71,460 per Annum Exclusive
  • Status
    Sold
  • Price
    £630,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Receivers CBRE
Important Update
  • Expand
  • Photos
  • Map

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

Freehold Retail Investment

  • Let to Argos Limited and Duvetco Ltd
  • Argos in occupation since at least 1987
  • Prime High Street location
  • Nearby occupiers include Boots the Chemist, Wilko, LLoyds and Mothercare
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 54
  • Auction 19th May 2016
  • Rent
  • Status Sold
  • Price £630,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Receivers CBRE

Property Information

Location
Miles
11 miles north-east of Maidstone, 15 miles south-west of Canterbury, 51 miles south-east of London
Roads
A249, A2, M2 (Junction 5)
Rail
Sittingbourne Rail
Air
London City Airport
Situation

The property is situated in a prominent position on High Street, the town's prime retailing thoroughfare. Nearby occupiers include Boots the Chemist, Wilko, Lloyds Bank and Mothercare.

Tenure

Freehold.

Location
Miles
11 miles north-east of Maidstone, 15 miles south-west of Canterbury, 51 miles south-east of London
Roads
A249, A2, M2 (Junction 5)
Rail
Sittingbourne Rail
Air
London City Airport
Situation

The property is situated in a prominent position on High Street, the town's prime retailing thoroughfare. Nearby occupiers include Boots the Chemist, Wilko, Lloyds Bank and Mothercare.

Tenure

Freehold.

Description

The property comprises two ground floor retail units with ancillary accommodation on the first floor. We understand that there is an electricity sub-station on site.

Six Week Completion

Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without
personal liability.

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 two ground floor retail units with ancillary accommodation on the first floor. We understand that there is an electricity sub-station on site.

Six Week Completion

Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without
personal liability.

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 No. Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review (Reversion)
121 Ground
First
Retail/Ancillary
Ancillary
397.40 sq m
422.30 sq m
(4,278 sq ft)
(4,545 sq ft)
ARGOS
LIMITED (1)
10 years from 2016
(2)
£52,500 2021
(2026)
121A Ground Retail/Ancillary 193.05 sq m (2,078 sq ft) DUVETCO
LIMITED t/a
Ponden
Homes
(3)
Licence - 6 months
from 06/01/2012 (4)
£18,960
Totals   1,012.75 sq m (10,901 sq ft)       £71,460  

(1) For the year ending 28th February 2015, Argos Limited reported a turnover of £3,919,176,000, pre-tax profits of £97,146,000 and a total net worth of £1,202,554,000 (Source: Experian Group 20/04/2016).
(2) Unit 121 is currently let to Argos Limited for a term of 10 years from 29th September 2013 with a tenant option to determine on 31st December 2018 at a rent of £52,500 p.a.x. Terms for a new 10 year lease with a tenant option to determine on the fifth anniversary of the term has been agreed, subject to a 3 months’ rent free period, and is in solicitors’ hands due to complete imminently.
(3) For the year ending 28th February 2015, Duvetco Limited reported a turnover of £26,294,000, pre-tax profits of £2,046,000 and a total net worth of £7,749,000 (Source: Experian Group 20/04/2016).
(4) The Licensor or the Licensee may terminate the Licence at any time following at least three months’ prior written notice.

Property Documents

  • Catalogue Page
    Updated Date
    30.10.19
    File Size
    582 KB
    View PDF
  • Site Plan
    Updated Date
    30.10.19
    File Size
    71 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
Walker Morris LLP Kings Court, 12 King Street
Leeds
LS1 2HL
Ian Hartley 0113 283 4457ian.hartley@walkermorris.co.uk

Useful Links

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

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