Freehold Retail Investment
Freehold Retail Investment
The property is prominently situated on the west side of the pedestrianised Market Place close to its junction with High Street and Swan Street in the heart of this important university town.
Neighbouring occupiers include Boots, Lloyds Bank, Dorothy Perkins and Caffé Nero.
Freehold.
The property is prominently situated on the west side of the pedestrianised Market Place close to its junction with High Street and Swan Street in the heart of this important university town.
Neighbouring occupiers include Boots, Lloyds Bank, Dorothy Perkins and Caffé Nero.
Freehold.
The property comprises ground floor retail accommodation with ancillary accommodation on the first, second and third floors. The property benefits from a rear access via George Yard.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises ground floor retail accommodation with ancillary accommodation on the first, second and third floors. The property benefits from a rear access via George Yard.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Ground First Second Third |
Retail Ancillary Ancillary Ancillary |
151.14 sq m 79.58 sq m 54.63 sq m 27.19 sq m |
(1,627 sq ft) (856 sq ft) (587 sq ft) (293 sq ft) |
GREGGS PLC (1) | 30 years from 18/06/1994 until 2024 on a full repairing and insuring lease (2) | £50,000 |
24/06/2019 |
| Totals | 312.54 sq m |
(3,363 sq ft) |
£50,000 | ||||
(1) Greggs plc were incorporated in 1951 and currently trade from over 1,671 outlets nationwide (www.greggs.co.uk) For the year ending 29/12/2013, Greggs plc reported a turnover of £734,502,000, pre-tax profits of £53,342,000 and a net worth of £226,646,000. (Source: www.riskdisk.com 22/04/2014).
(2)The tenant occupies the property under a lease for a term of 20 years from 18/06/1994 until 23rd June 2014 at a rent reserved of £56,000 per annum exclusive. The parties have signed a reversionary lease for a term of 10 years from 24th June 2014 until 2024 at a reserved rent of £50,000 per annum exclusive. The reversionary lease provides for a tenant option to determine the lease on 24th June 2019 subject to paying a £25,000 penalty.
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