Let to Top Shop/Top Man Properties Limited on a recently renewed lease (Guaranteed by Redcastle Limited)
Rent rebased from £70,000 p.a.x
Prime trading position in the heart of the town centre
Historic market town and principal commercial centre of the Isle of Wight
Nearby occupiers include McDonald's, Costa, Boots the Chemist and Holland & Barrett
Lot 14
Auction 19th October 2017
Rent £61,500 per Annum Exclusive
Status Sold
Price £775,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of a Cambridge College
Property Information
Location
Miles
5 miles south of Cowes, 7 miles south-west of Ryde, 15 miles south-west of Portsmouth
Roads
A3, A3054, M27, M275,
Rail
Ryde Esplanade Railway Station
Air
Southampton Airport, Gatwick Airport
Situation
Newport, a historic market town, is the principal commercial and administrative centre for the Isle of Wight. The property is situated on the east side of St James Square in the heart of town centre, between High Street and Pyle Street. Nearby occupiers include McDonald's, Costa, Boots the Chemist and Holland & Barrett.
Tenure
Freehold.
Location
Miles
5 miles south of Cowes, 7 miles south-west of Ryde, 15 miles south-west of Portsmouth
Roads
A3, A3054, M27, M275,
Rail
Ryde Esplanade Railway Station
Air
Southampton Airport, Gatwick Airport
Situation
Newport, a historic market town, is the principal commercial and administrative centre for the Isle of Wight. The property is situated on the east side of St James Square in the heart of town centre, between High Street and Pyle Street. Nearby occupiers include McDonald's, Costa, Boots the Chemist and Holland & Barrett.
Tenure
Freehold.
Description
The property comprises an attractive period building with retail accommodation on the ground and first floors and ancillary accommodation on the second and third floors.
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 an attractive period building with retail accommodation on the ground and first floors and ancillary accommodation on the second and third floors.
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.
TOP SHOP/TOP MAN PROPERTIES LIMITED Guaranteed by Redcastle Limited (1)
5 years from 24/06/2017 on a full repairing and insuring lease
£61,500
23/06/2022
Totals
628.21 sqm
(6,762 sq ft)
£61,500
(1) For the year ending 27th August 2016, Redcastle Limited reported a turnover of £124,294,000, pre-tax profits of negative -£14,247,000 and a total net worth of £299,646,000 (Source: www.Experian.com 27/07/2017). Topshop/Topman Properties Ltd and Redcastle Limited are an Arcadia Group Limited Brand along with Burton, Dorothy Perkins, Miss Selfridge, Outfit, Wallis and Evans (www.arcadiagroup.co.uk).
