Entirely let to New Look Retailers Limited (by way of Lease Renewal)
New 15 year lease from September 2016 (subject to option)
Approximately 8,168 sq ft
Prime location close to George Yard Shopping Centre
Nearby occupiers include Sainsbury's Supermarket, Edinburgh Woollen Mill, Iceland, Costa and H. Samuel
Popular Essex market town
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 26
Auction 16th February 2017
Rent £93,000 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
11 miles north-east of Chelmsford, 15 miles west of Colchester, 40 miles north-east of Central London
Roads
A12, A120, A131
Rail
Braintree Railway Station
Air
London Stansted Airport
Situation
The property is located in a prime retailing location on the western side of Bank Street, which connects to High Street in the heart of Braintree town centre. George Yard Shopping Centre is located within close proximity, housing occupiers including Boots the Chemist, Peacocks, WHSmith, Superdrug and Poundworld. Other nearby occupiers include Sainsbury's Supermarket,
Iceland, Edinburgh Woollen Mill, H. Samuel, HSBC and Costa Coffee. George Yard Multi-Storey Car Park is located nearby which has parking for in excess of 700 cars.
Tenure
Freehold.
Location
Miles
11 miles north-east of Chelmsford, 15 miles west of Colchester, 40 miles north-east of Central London
Roads
A12, A120, A131
Rail
Braintree Railway Station
Air
London Stansted Airport
Situation
The property is located in a prime retailing location on the western side of Bank Street, which connects to High Street in the heart of Braintree town centre. George Yard Shopping Centre is located within close proximity, housing occupiers including Boots the Chemist, Peacocks, WHSmith, Superdrug and Poundworld. Other nearby occupiers include Sainsbury's Supermarket,
Iceland, Edinburgh Woollen Mill, H. Samuel, HSBC and Costa Coffee. George Yard Multi-Storey Car Park is located nearby which has parking for in excess of 700 cars.
Tenure
Freehold.
Description
The property comprises a ground floor shop with ancillary accommodation on the first and second floors. The property benefits from a service yard to the rear.
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 ancillary accommodation on the first and second floors. The property benefits from a service yard to the rear.
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
Reviews
Ground First Second
Retail/Ancillary Ancillary Ancilary
365.20 sq m 324.70 sq m 68.93 sq m
(3,931 sq ft) (3,495 sq ft) (742 sq ft)
NEW LOOK RETAILERS LIMITED (1)
15 years from 29/09/2016 until 28/09/2031 (2) on a full repairing and insuring lease
£93,000
29/09/2021 29/09/2026
Totals
758.83 sq m
(8,168 sq ft)
£93,000
(1) For the year ending 26th March 2016, New Look Retailers Limited reported a turnover of £1,398,502,000, pre-tax profits of £178,532,000 and a total net worth of £323,253,000 (Source: Experian Group 09/01/2017). New Look now trade from about 575 stores in the UK and over 1,100 stores worldwide (Source: www.newlook.com 09/01/2017). (2) The lease is subject to a tenant break option on 29th September 2026 subject to six months prior written notice.
