Let to Iceland Foods Limited on a renewed 10 year lease from 2016 (subject to option)
Historic Essex Town Centre location
2 miles from Harwich International Port
Nearby occupiers include Boots the Chemist, Superdrug and Halifax Bank
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 7
Auction 16th February 2017
Rent
Status Sold
Price £563,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
17 miles east of Colchester, 24 miles south-east of Ipswich, 40 miles north-east of Chelmsford
Roads
A12, A14, A120
Rail
Dovercourt Railway Station, Harwich Town Railway Station
Air
London Stansted Airport, London Southend Airport
Situation
Dovercourt is an historic Essex coastal town benefiting from seasonal tourism and from its close proximity to the major Harwich International freight and passenger port which operates 24 hours a day. The property is situated on the north side of High Street in the heart of the town centre. Nearby occupiers include Boots the Chemist, Superdrug, Halifax Bank and Nationwide Building Society.
Tenure
Freehold.
Location
Miles
17 miles east of Colchester, 24 miles south-east of Ipswich, 40 miles north-east of Chelmsford
Roads
A12, A14, A120
Rail
Dovercourt Railway Station, Harwich Town Railway Station
Air
London Stansted Airport, London Southend Airport
Situation
Dovercourt is an historic Essex coastal town benefiting from seasonal tourism and from its close proximity to the major Harwich International freight and passenger port which operates 24 hours a day. The property is situated on the north side of High Street in the heart of the town centre. Nearby occupiers include Boots the Chemist, Superdrug, Halifax Bank and Nationwide Building Society.
Tenure
Freehold.
Description
The property comprises a prominent and substantial ground floor retail unit with ancillary accommodation in the basement and on the first floor.
VAT
VAT is not 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 prominent and substantial ground floor retail unit with ancillary accommodation in the basement and on the first floor.
VAT
VAT is not 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
Ground First Basement
Retail Ancillary Ancillary
421.30 sq m 386.92 sq m 15.32 sq m
(4,535 sq ft) (4,165 sq ft) (165 sq ft)
ICELAND FOODS LIMITED (1)
10 years from 25/03/2016 until 2026 on a full repairing and insuring lease (2)
£38,000
25/03/2021
Totals
823.54 sq m
(8,865 sq ft)
£38,000
(1) For the year ending 25th March 2016, Iceland Foods Limited reported a turnover of £2,658,332,000, pre-tax profits of £58,172,000 and a total net worth of £740,354,000. (Source: www.riskdisk.com 04/01/2017). (2) The lease provides for a tenant option to determine the lease on 24th March 2021.