Entirely let to Marks and Spencer plc on a 10 year lease until 2022 (subject to option)
Prominent High Street position in affluent market town
Approximately 1,071 sq m (11,535 sq ft) with on-site customer parking
Nearby occupiers include Beales Department Store, NatWest, Boots and Barclays Bank
Lot 36
Auction 11th December 2014
Rent £165,000 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
14 miles north of Bedford 18 miles east of Cambridge 26 miles south of Peterborough
Roads
B1428, A428, A1(M) (J14), M1 (J14)
Rail
St Neots Railway Station
Air
London Stansted Airport
Situation
The property is situated within St Neots town centre on the northern side of the High Street close to its junction with Huntingdon Street. Located within the town’s principal shopping thoroughfare, the main car park for the town is located directly to the rear with other nearby occupiers including Beales Department Store, NatWest, Boots and Barclays Bank.
Tenure
Freehold.
Location
Miles
14 miles north of Bedford 18 miles east of Cambridge 26 miles south of Peterborough
Roads
B1428, A428, A1(M) (J14), M1 (J14)
Rail
St Neots Railway Station
Air
London Stansted Airport
Situation
The property is situated within St Neots town centre on the northern side of the High Street close to its junction with Huntingdon Street. Located within the town’s principal shopping thoroughfare, the main car park for the town is located directly to the rear with other nearby occupiers including Beales Department Store, NatWest, Boots and Barclays Bank.
Tenure
Freehold.
Description
The property comprises ground floor retail unit with ancillary accommodation and further ancillary accommodation on the first floor. In addition there is a self-contained residential flat on the first floor. The property benefits from pedestrian access to the rear along with rear loading and customer parking areas.
Six Week Completion
VAT
VAT is 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 unit with ancillary accommodation and further ancillary accommodation on the first floor. In addition there is a self-contained residential flat on the first floor. The property benefits from pedestrian access to the rear along with rear loading and customer parking areas.
Six Week Completion
VAT
VAT is 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
Reviews
Ground First
Retail/Ancillary Ancillary Residential (3)
698.51 sq m 373.09 sq m Not Measured
(7,519 sq ft) (4,016 sq ft)
MARKS AND SPENCER PLC (1)
10 years from 25/12/2012 on a full repairing and insuring lease (2)
£165,000
24/12/2017
Totals
1,071 sq m
(11,535 sq ft)
£165,000
(1) For the year ending 29/03/2014, Marks and Spencer Plc reported a turnover of£10,309,700,000, pre-tax profits of £580,400,000 and a total net worth of £4,383,400,000. (Source: www.riskdisk.com 11/11/2014). (2)The lease provides an option to determine on the fifth anniversary of the term subject to six months’ written notice. (3)The residential flat has been sublet.
