69 / 71 London Road North Lowestoft Suffolk NR32 1LS

69 / 71 London Road North
Lowestoft
Suffolk
NR32 1LS

Freehold Retail Investment

  • Let to Blacks Outdoor Retail Limited (a part of JD Sports Fashion Plc) and Claire’s Accessories UK Limited
  • New 10 year lease to Blacks Outdoor Retail Limited (subject to option)
  • Prime pedestrianised town centre location opposite Marks & Spencer
  • Close proximity to The Britten Shopping Centre
  • Nearby retailers include Boots the Chemist, WH Smith, Waterstones and H Samuel
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    88
  • Auction
    7th July 2016
  • Rent
    £76,500 per Annum Exclusive
  • Status
    Withdrawn Prior
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of Insolvency Practitioners Deloitte
Important Update
  • Expand
  • Photos
  • Map

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

Freehold Retail Investment

  • Let to Blacks Outdoor Retail Limited (a part of JD Sports Fashion Plc) and Claire’s Accessories UK Limited
  • New 10 year lease to Blacks Outdoor Retail Limited (subject to option)
  • Prime pedestrianised town centre location opposite Marks & Spencer
  • Close proximity to The Britten Shopping Centre
  • Nearby retailers include Boots the Chemist, WH Smith, Waterstones and H Samuel
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 88
  • Auction 7th July 2016
  • Rent
  • Status Withdrawn Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of Insolvency Practitioners Deloitte

Property Information

Location
Miles
10 miles south of Great Yarmouth, 27 miles south-east of Norwich
Roads
A12, A146, A11, M11
Rail
Lowestoft Railway Station
Air
Norwich International Airport
Situation

The property is situated on the western side of London Road North, Lowestoft's prime pedestrianised retail thoroughfare. The property is located a short distance from The Britten Shopping Centre which houses retailers including Iceland, WH Smith and Poundland. Other nearby occupiers include Marks & Spencer, Boots the Chemist and New Look.

Tenure

Freehold.

Location
Miles
10 miles south of Great Yarmouth, 27 miles south-east of Norwich
Roads
A12, A146, A11, M11
Rail
Lowestoft Railway Station
Air
Norwich International Airport
Situation

The property is situated on the western side of London Road North, Lowestoft's prime pedestrianised retail thoroughfare. The property is located a short distance from The Britten Shopping Centre which houses retailers including Iceland, WH Smith and Poundland. Other nearby occupiers include Marks & Spencer, Boots the Chemist and New Look.

Tenure

Freehold.

Description

The property comprises two retail units, Unit 69 comprises ground floor retail accommodation and Unit 71 comprises ground retail accommodation with ancillary accommodation on the first and
second floors.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises two retail units, Unit 69 comprises ground floor retail accommodation and Unit 71 comprises ground retail accommodation with ancillary accommodation on the first and
second floors.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.

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)
Unit 69 Ground Retail
76.70 sq m
(826 sq ft)
CLAIRE’S
ACCESSORIES UK
LIMITED (1)
15 years from 14/10/2003 £36,500 (13/10/2018)
Unit 71 Ground
First
Second
Retail
Ancillary
Ancillary
230.00 sq m
57.50 sq m
28.10 sq m
(2,476 sq ft)
(619 sq ft)
(302 sq ft)
BLACKS OUTDOOR
RETAIL LIMITED (2)
10 years from 25/03/2016 (3) £40,000 (3) 24/03/2021
(24/03/2026)
Total    
392.30 sq m
(4,223 sq ft)
    £76,500 (3)

(1) For the year ending 31st January 2015, Claires Accessories UK Limited reported a turnover of £125,298,000, pre-tax profits of £1,295,000 and a total net worth of £80,403,000. (Source: Experian Group 07/06/2016)
(2) Blacks Outdoor Retail Limited is a subsidiary (and part of The Outdoor Division) of JD Sports Fashion plc, currently trading from around 80 Millets and 74 Blacks stores. (Source: www.jdplc.com and www.millets.co.uk)
(3) The lease has been agreed, is due to complete imminently and will provide for a tenant option to determine on 24th March 2021.

Property Documents

  • Catalogue Page
    Updated Date
    15.06.16
    File Size
    575 KB
    View PDF
  • Site Plan
    Updated Date
    15.06.16
    File Size
    88 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
Olswang LLP 2nd Floor, The Blade, Abbey Square
Reading
RG1 3BE
Gaye King 0207 071 7341gaye.king@olswang.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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