Let to Poundland Limited until 2027 (subject to option)
Prime Town Centre location
No VAT payable
Nearby occupiers include Boots, Holland & Barrett, Costa, WH Smith, Specsavers and HSBC
Lot 28
Auction 22nd May 2014
Rent £70,000 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
17 miles south-east of Cambridge
18 miles south-west of Bury St Edmunds
52 miles north-east of Central London
Roads
A1307, A1017, M11 (Junction 9)
Air
Stansted Airport
Situation
The property is located in the prosperous market town of Haverhill on the east side of the High Street adjoining Market Hill. Neighbouring occupiers include Boots, Holland & Barrett, Costa, WH Smith, Specsavers and HSBC.
Tenure
Virtual Freehold. Held for a term of 999 years from 1986 at a
peppercorn rent.
Location
Miles
17 miles south-east of Cambridge
18 miles south-west of Bury St Edmunds
52 miles north-east of Central London
Roads
A1307, A1017, M11 (Junction 9)
Air
Stansted Airport
Situation
The property is located in the prosperous market town of Haverhill on the east side of the High Street adjoining Market Hill. Neighbouring occupiers include Boots, Holland & Barrett, Costa, WH Smith, Specsavers and HSBC.
Tenure
Virtual Freehold. Held for a term of 999 years from 1986 at a
peppercorn rent.
Description
The property comprises ground floor retail and ancillary accommodation with further ancillary accommodation on the first floor. The property benefits from a shared service yard to the rear.
The tenant also occupies the adjacent retail unit on a co-terminous lease which does not form part of the property being offered for sale.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground floor retail and ancillary accommodation with further ancillary accommodation on the first floor. The property benefits from a shared service yard to the rear.
The tenant also occupies the adjacent retail unit on a co-terminous lease which does not form part of the property being offered for sale.
VAT
VAT is not applicable to this lot.
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
Retail Ancillary
223.52 sq m 153.57 sq m
(2,406 sq ft) (1,653 sq ft)
POUNDLAND LIMITED (1)
15 years from 09/07/2012 until 2027 on a full repairing and insuring lease (2)
£70,000
09/07/2017
Totals
377.09 sq m
(4,059 sq ft)
£70,000
(1) For the year ending 31/03/2013, Poundland Limited reported a turnover of £880,491,000, pre-tax profits of £34,313,000 and a total net worth of £119,042,000. (Source: www.riskdisk.com 22/04/2014) (2)The lease provides for a tenant option to determine on 9th July 2022.
