Prominent corner position on pedestrianised High Street
Important university and cathedral city
Diagonally opposite the Menai Shopping Centre and Deiniol Shopping Centre
Nearby occupiers include Boots Chemist, Poundworld, H&M and JD Sports
Lot 45
Auction 7th December 2017
Rent £70,000 per Annum Exclusive
Status Sold
Price £515,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of Trustees
Property Information
Location
Miles
15 miles west of Colwyn Bay
20 miles south-west of Llandudno
60 miles west of Chester
Roads
A5, A55, A487
Rail
Bangor Railway Station
Air
Liverpool John Lennon Airport, Anglesey Airport
Situation
Bangor is an important university and cathedral city some 4 miles west of Snowdonia National Park. The property occupies a prominent corner position on the prime pedestrianised section of the High Street, close to its junction with Garth Road and both the Menai Shopping Centre and the Deiniol Shopping Centre. Nearby occupiers include Boots Chemist, Poundworld, H&M and JD Sports. To the rear of the property is the Plas Llwyd Car Park, accessed via Plasllwyd Terrace which is adjacent to the property.
Tenure
Freehold.
Location
Miles
15 miles west of Colwyn Bay
20 miles south-west of Llandudno
60 miles west of Chester
Roads
A5, A55, A487
Rail
Bangor Railway Station
Air
Liverpool John Lennon Airport, Anglesey Airport
Situation
Bangor is an important university and cathedral city some 4 miles west of Snowdonia National Park. The property occupies a prominent corner position on the prime pedestrianised section of the High Street, close to its junction with Garth Road and both the Menai Shopping Centre and the Deiniol Shopping Centre. Nearby occupiers include Boots Chemist, Poundworld, H&M and JD Sports. To the rear of the property is the Plas Llwyd Car Park, accessed via Plasllwyd Terrace which is adjacent to the property.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with return frontage and ancillary accommodation over first and second floors. The property benefits from a rear customer entrance.
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 retail unit with return frontage and ancillary accommodation over first and second floors. The property benefits from a rear customer entrance.
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
Review
Ground First Second
Retail Ancillary Ancillary
393.16 sq m 264.49 sq m 78 sq m
(4,232 sq ft) (2,847 sq ft) (845 sq ft)
BLUE INC (UK) LIMITED (1)
10 years from 19/09/2013 until 18/09/2023 on a full repairing and insuring lease (2)
£70,000 (3)
19/09/2018
Totals
735.65 sq m
(7,924 sq ft)
£70,000 (3)
(1) Blue Inc is a UK based retailer currently operating from over 100 stores throughout the UK under two retail fascias, Blue Inc and Officers Club (Source: www.blueinc.co.uk 09/11/2017). (2) The lease provides a tenant option to determine on 19/09/2018. (3) A turnover rent is payable by the tenant. The turnover rent shall be the sum equal to 10% of the amount (if any) by which the turnover for each year of the term exceeds £1,000,000. For further information, please refer to Schedule 6 in the lease which can be found within the legal pack.
