Florence Walk Shopping Mall North Street Bishops Stortford Hertfordshire CM23 2NZ

  • Florence Walk Shopping Mall<br>North Street<br>Bishops Stortford<br>Hertfordshire<br>CM23 2NZ

Florence Walk Shopping Mall
North Street
Bishops Stortford
Hertfordshire
CM23 2NZ

Freehold Shopping Mall Investment

  • Attractive Shopping Mall in Affluent Market Town
  • Fully let Shopping Precinct with Residential Above (Let on Long Leases)
  • Located between popular North Street and Waitrose Supermarket
  • Nearby occupiers include Côte Restaurant, Bill’s Restaurant, Lloyds Bank, HSBC and Carluccio’s
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    29
  • Auction
    13th October 2016
  • Rent
    £149,900 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
Important Update
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Freehold Shopping Mall Investment

  • Attractive Shopping Mall in Affluent Market Town
  • Fully let Shopping Precinct with Residential Above (Let on Long Leases)
  • Located between popular North Street and Waitrose Supermarket
  • Nearby occupiers include Côte Restaurant, Bill’s Restaurant, Lloyds Bank, HSBC and Carluccio’s
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 29
  • Auction 13th October 2016
  • Rent £149,900 per Annum Exclusive
  • Status Withdrawn Post
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG

Property Information

Location
Miles
25 miles north of Central London, 25 miles south of Cambridge
Roads
M11, M25
Rail
Bishop’s Stortford Rail
Air
Stansted International Airport
Situation

Bishop's Stortford is a historic market town 25 miles north of Central London. The property is located in the town centre on the eastern side of North Street, one of the town's most sought after shopping streets. The shopping precinct provides a thoroughfare through to Waitrose supermarket, via Water Lane to the east. Nearby occupiers include Côte Restaurant, Bill’s Restaurant, Lloyds Bank, HSBC and Carluccio’s.

Tenure

Freehold.

Location
Miles
25 miles north of Central London, 25 miles south of Cambridge
Roads
M11, M25
Rail
Bishop’s Stortford Rail
Air
Stansted International Airport
Situation

Bishop's Stortford is a historic market town 25 miles north of Central London. The property is located in the town centre on the eastern side of North Street, one of the town's most sought after shopping streets. The shopping precinct provides a thoroughfare through to Waitrose supermarket, via Water Lane to the east. Nearby occupiers include Côte Restaurant, Bill’s Restaurant, Lloyds Bank, HSBC and Carluccio’s.

Tenure

Freehold.

Description

Florence Walk is a covered shopping mall comprising twelve ground floor units. There are six residential flats on the upper floors which have been let on long leases.

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

Florence Walk is a covered shopping mall comprising twelve ground floor units. There are six residential flats on the upper floors which have been let on long leases.

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 No. Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
1 Retail 19.78 sq m (213 sq ft) INDIVIDUAL (t/a Upper Crust) 15 years from
12/10/2015 (1)		 £13,000 (11/10/2030)
2 Retail 20.07 sq m (216 sq ft) INDIVIDUAL (t/a Velvet
Rose)		 3 years from 07/06/2013 £7,400 Holding Over
3 Retail 25.46 sq m (274 sq ft) I-VAPO LIMITED
(t/a Phoenix Electronic
Cigarettes)		 6years from 28/10/2015 (2) £10,000 28/10/2018
(27/10/2021)
4 Retail 45.62 sq m (491 sq ft) SHUKA LIMITED WITH PERSONAL
GUARANTEE		 10 years from September 2016 (3) £12,850 September 2021
(September 2026)
5 Retail 45.71 sq m (492 sq ft) PINK STRAWBERRY
LIMITED		 5 years from 04/03/2015 £13,500 (03/03/2020)
6 Retail 45.89 sq m (494 sq ft) A&D EXPORTS IMPORTS LTD
(t/a A & D Jewellery)		 Tenancy at Will from
11/02/2016 (4)		 £12,000 (5)  
7 Retail 80.36 sq m (865 sq ft) THE CONGREGATION OF THE DAUGHTERS OF THE CROSS
(t/a Cross Gallery)		 6 years from
12/08/2013 (6)		 £13,750 (11/08/2019)
8 Retail 114.27 sq m (1,230 sq ft) INDIVIDUAL (t/a Fly Style) 5 years from 26/01/2016 £16,300 (25/01/2021)
11 Retail 26.85 sq m (289 sq ft) INDIVIDUAL
(t/a Mosaic Gift Shop)		 5 years from
01/09/2009		 £9,000 Holding Over
12 Retail 32.52 sq m (350 sq ft) INDIVIDUAL
(t/a Blink Gift Shop)		 Approx 1
8 years from 24/06/1995		 £10,400 Holding Over
13/14 Retail 81.66 sq m (879 sq ft) INDIVIDUALS (t/a Caffe Inn) 10 years from 31/01/2011 £21,000 (30/01/2021)
15 Retail 33.35 sq m (359 sq ft) MINI MILKS CHILDREN'S BOUTIQUE
LIMITED		 5 years from
06/10/2015		 £9,500 (05/10/2020)
Storage     INDIVIDUAL Approx 24 years 6 months from
29/09/1989 until 24/03/2014		 £600 Holding Over
16 Residential   INDIVIDUAL 99 years from 29/09/1989 £100 (28/09/2088)
17 Residential   INDIVIDUAL 125 years from 25/03/2002 £100 (24/03/2127)
18 Residential   INDIVIDUAL 117 years 11 months
from 25/04/2008		 £100 (24/03/2126)
19 Residential   INDIVIDUAL 99 years from 29/09/1989 £100 (28/09/2088)
20 Residential   INDIVIDUAL 99 years from 29/09/1989 £100 28/09/2088
21 Residential   INDIVIDUAL 125 years from 25/03/2002 £100 (24/03/2127)
Total   454.53 sq m (4,914 sq ft)     £149,900  

(1) The lease provides a tenant option to determine on 12th October 2020.
(2) The lease provides a tenant option to determine on 28th October 2018.
(3) The lease provides a tenant option to determine on the fifth anniversary.
(4) The Seller has been in discussions with the tenant regarding a new 5 year lease.
(5) The rent has been annualised.
(6) The lease provides a tenant option to determine on 12th August 2017.

Property Documents

  • Catalogue Page
    Updated Date
    28.02.20
    File Size
    909 KB
    View PDF
  • Site Plan
    Updated Date
    28.02.20
    File Size
    89 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 Sutherland 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
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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