49-49a Broad Street
Ross-On-Wye
Herefordshire
HR9 7DY

Freehold Retail Investment

  • Entirely let to Peacocks Stores Limited
  • Lease expires in September 2024 (subject to option)
  • Approximately 4,817 sq ft
  • Nearby occupiers include WH Smith, Superdrug, Costa Coffee and Boots the Chemist
  • Attractive Herefordshire Market Town
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    30
  • Auction
    25/May/2017
  • Rent
    £37,666 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 49-49a Broad Street<br>Ross-On-Wye<br>Herefordshire<br>HR9 7DY
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Property Information

Location
Miles
16 miles west of Gloucester, 24 miles south-west of Worcester
Roads
A40, A449, M50
Air
Bristol Airport
Situation

The property is located on the eastern side of Broad Street, north of its junction with Market Place and High Street, in the heart of the town centre. The Maltings Shopping Centre is located nearby housing occupiers including Sainsbury's Supermarket, Holland & Barrett and The Original Factory
Shop. Other nearby occupiers include WH Smith, Superdrug, Costa Coffee and Boots the Chemist.

Tenure

Freehold.

Description

The property comprises two ground floor shops with sales/ancillary accommodation on the first floor and ancillary accommodation on the second/attic floor. Part of the property (49 Broad Street) comprises a self-contained lock-up shop and is not currently being used by the tenant.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

Buyer's Legal Report

For the ease and convenience of prospective buyers,to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is advisable. For more information, please click here.

Tenancy & Accomodation

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.xReview

49-49a

Ground
First
Second/Attic
Retail/Ancillary
Retail/Ancillary
Ancillary
253.43 sq m
172.70 sq m
21.37 sq m
(2,728 sq ft)
(1,859 sq ft)
(230 sq ft)
PEACOCKS
STORES
LIMITED (1)
25 years from
29/09/1999 until
28/09/2024 (2) on a
full repairing and
insuring lease (3)
£37,666 (4)
29/09/2019
Totals
  
447.50 sq m
(4,817 sq ft)
  £37,666 (4)
 

(1) For the year ending 27th February 2016, Peacocks Stores Limited reported a turnover of £369,711,000, a pre-tax profit of £67,879,000 and a total net worth of £141,072,000 (Source: Experian Group 12/04/2017). Peacocks is part of the Edinburgh Woollen Mill Group which includes brands such as Edinburgh Woollen Mill, Jane Norman and Ponden Home (Source: www.peacockscorporate.co.uk 12/04/2017).
(2) The lease is subject to a tenant only break option on 31st March 2022, subject to six months’ prior written notice.
(3) The lease is full repairing and insuring subject to a Schedule of Condition.
(4) The tenant is currently benefiting from a rent free period from 1st April 2017 until 30th September 2017 as a result of the tenant break option moving from 28th September 2017 to 31st March 2022. The vendor has agreed to adjust the completion monies so that the property effectively produces £37,666 per annum from completion of the sale.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    24.05.17
    File Size
    63 MB
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  • Site Plan
    Updated Date
    03.05.17
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    03.05.17
    File Size
    986 KB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 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
George WatkinsGeorge Watkins +44 (0)20 7034 4861george.watkins@acuitus.co.uk
Seller's Solicitors
Cripps LLP 22 Mount Ephriam, Tunbridge Wells, Kent, TN4 8AS
Alice Paye 01892 506086alice.paye@cripps.co.uk

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