125/129 Mortimer Street and 6 Bank Street Herne Bay Kent CT6 5EX

125/129 Mortimer Street and 6 Bank Street
Herne Bay
Kent
CT6 5EX

Freehold Retail Investment

Entirely let to Peacocks Stores Limited on a 63 year lease until 2024
Prominent position on pedestrianised thoroughfare
Nearby occupiers include Barclays Bank, Boots, Santander and Carphone Warehouse
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
37
Auction
26th March 2015
Rent
£38,500 per Annum Exclusive
Status
Withdrawn Prior
Price
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of a Major Fund

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Freehold Retail Investment

Entirely let to Peacocks Stores Limited on a 63 year lease until 2024
Prominent position on pedestrianised thoroughfare
Nearby occupiers include Barclays Bank, Boots, Santander and Carphone Warehouse
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 37
Auction 26th March 2015
Rent £38,500 per Annum Exclusive
Status Withdrawn Prior
Price
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of a Major Fund

Property Information

Location

Miles: 8 miles north of Canterbury, 15 miles west of Ramsgate, 32 miles north-east of Maidstone
Roads: A299, A2, A28, M2, (Junction 7)
Rail: Herne Bay Railway Station
Air: Gatwick Airport

Situation

The property is situated in a prominent position on the northern side of the pedestrianised Mortimer Street in Herne Bay town centre. Nearby occupiers include Barclays Bank, Boots, Santander and Carphone Warehouse.

Tenure

Freehold.

Location

Miles: 8 miles north of Canterbury, 15 miles west of Ramsgate, 32 miles north-east of Maidstone
Roads: A299, A2, A28, M2, (Junction 7)
Rail: Herne Bay Railway Station
Air: Gatwick Airport

Situation

Tenure

Freehold.

Description

The property comprises a large ground floor retail unit with ancillary accommodation over the first floor and mezzanine.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

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	Reversion
Ground Mezzanine First	Retail/Ancillary Ancillary Ancillary	372.55 sq m 5.09 sq m 165.10 sq m	(4,010 sq ft) (55 sq ft) (1,777 sq ft)	PEACOCKS STORES LIMITED (1)	63 years from 11/11/1961 on a full repairing and insuring lease	£38,500	11/11/2024
Totals		542.74 sq m	(5,842 sq ft)			£38,500

(1) For the year ending 01/03/2014, Peacocks Stores Limited reported a turnover of £324,874,000, pre-tax profits of £58,471,000 and a total net worth of £90,545,000. (Source: www.riskdisk.com 27/02/2015)