27 Earl Street Maidstone Kent ME14 1PE

27 Earl Street
Maidstone
Kent
ME14 1PE

Freehold Retail (and Commercial Ground Rent) Investment

  • Retail unit let to Ryman Limited
  • Tenant in occupation for over 35 years
  • Opposite Fremlin Walk Shopping Centre, housing retailers including House of Fraser, Zara, H&M, Topman and Boots the Chemist
  • Popular restaurant location with nearby occupiers including Zizzi’s, Pizza Express, ASK Italian, Wagamama, Nando’s and Prezzo along with Marks & Spencer, River Island, Superdrug and Primark
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    54
  • Auction
    7th July 2016
  • Rent
    £30,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £420,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
Important Update
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* More information on the term "guide" can be found here

Freehold Retail (and Commercial Ground Rent) Investment

  • Retail unit let to Ryman Limited
  • Tenant in occupation for over 35 years
  • Opposite Fremlin Walk Shopping Centre, housing retailers including House of Fraser, Zara, H&M, Topman and Boots the Chemist
  • Popular restaurant location with nearby occupiers including Zizzi’s, Pizza Express, ASK Italian, Wagamama, Nando’s and Prezzo along with Marks & Spencer, River Island, Superdrug and Primark
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 54
  • Auction 7th July 2016
  • Rent
  • Status Sold
  • Price £420,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG

Property Information

Location
Miles
17 miles north-east of Tunbridge Wells, 37 miles south-east of London
Roads
A20, A229, A249, M20 (Junction 6)
Rail
Maidstone East Railway Station Maidstone West Railway Station
Air
London Gatwick Airport, London City Airport
Situation

The property occupies a prominent corner position on the southern side of Earl Street, at its junction with Corn Exchange. The property is located opposite Fremlin Walk Shopping Centre which houses retailers including Zara, H&M, House of Fraser and Boots the Chemist. Other occupiers in the area include Nando's, Prezzo, ASK Italian, Cafe Rouge, Wagamama's, Prezzo, River Island, Marks & Spencer and Primark.

Tenure

Freehold.

Location
Miles
17 miles north-east of Tunbridge Wells, 37 miles south-east of London
Roads
A20, A229, A249, M20 (Junction 6)
Rail
Maidstone East Railway Station Maidstone West Railway Station
Air
London Gatwick Airport, London City Airport
Situation

The property occupies a prominent corner position on the southern side of Earl Street, at its junction with Corn Exchange. The property is located opposite Fremlin Walk Shopping Centre which houses retailers including Zara, H&M, House of Fraser and Boots the Chemist. Other occupiers in the area include Nando's, Prezzo, ASK Italian, Cafe Rouge, Wagamama's, Prezzo, River Island, Marks & Spencer and Primark.

Tenure

Freehold.

Description

The property comprises a ground floor shop, with further sales/ancillary accommodation at basement level. In addition there is self-contained accommodation currently being used as a dance
studio at first, second and third floors let on a long lease.

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 ground floor shop, with further sales/ancillary accommodation at basement level. In addition there is self-contained accommodation currently being used as a dance
studio at first, second and third floors let on a long lease.

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 Review/(Reversion)
Ground
Basement
Retail
Retail/Ancillary
73.77 sq m
75.90 sq m
(794 sq ft)
(817 sq ft)
RYMAN LIMITED
(1)
10 years from 01/11/2011 (2) £30,000 01/11/2016
(31/10/2021)
First, Second
& Third
Dance Studio
-
(-)
AN INDIVIDUAL 999 years from 01/07/2008 Peppercorn (30/06/3007)
Totals  
149.67 sq m
(1,611 sq ft)
    £30,000

(1) For the year ending 28th March 2015, Ryman Limited reported a turnover of £131,005,000, pre-tax profits of £7,918,000 and a total net worth of £44,489,000 (Source: Experian Group 23/05/2016). Ryman trade from about 220 shops in the United Kingdom (Source: www.ryman.co.uk 01/06/2016).
(2) The lease to Ryman Limited provided for tenant options to determine in June 2014 and October 2016. Both break options were exercisable on 6 months’ notice and both break options were not exercised.

Property Documents

  • Catalogue Page
    Updated Date
    30.10.19
    File Size
    609 KB
    View PDF
  • Site Plan
    Updated Date
    30.10.19
    File Size
    130 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

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
NC Morris & Co Close Gate House, 47 High Street
Salisbury
SP1 2PB
Charles Joly 01722 415 215charles.joly@ncmorris.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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