Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of Trustees of a Major Pension Fund
Property Information
Location
Miles
5 miles south of Cowes, 7 miles south-west of Ryde, 15 miles south-west of Portsmouth
Roads
A3054, A3, M275, M27
Rail
Ryde Esplanade, Ryde St John’s Road
Air
Gatwick International Airport, Southampton Airport
Situation
Newport, a historic market town, is the principal commercial and administrative centre for the Isle of Wight and draws from the entire island for its catchment. The island has a population of approximately 140,000 people which is substantially increased by the approximate 2.5 million tourists who visit the island annually.
The property is situated in a prominent location on the High Street within Newport town centre. Nearby occupiers include Boots the Chemist (adjacent), Waterstones, Clintons, Monsoon and Marks & Spencer with H Samuel and Laura Ashley opposite.
Tenure
Freehold.
Location
Miles
5 miles south of Cowes, 7 miles south-west of Ryde, 15 miles south-west of Portsmouth
Roads
A3054, A3, M275, M27
Rail
Ryde Esplanade, Ryde St John’s Road
Air
Gatwick International Airport, Southampton Airport
Situation
Newport, a historic market town, is the principal commercial and administrative centre for the Isle of Wight and draws from the entire island for its catchment. The island has a population of approximately 140,000 people which is substantially increased by the approximate 2.5 million tourists who visit the island annually.
The property is situated in a prominent location on the High Street within Newport town centre. Nearby occupiers include Boots the Chemist (adjacent), Waterstones, Clintons, Monsoon and Marks & Spencer with H Samuel and Laura Ashley opposite.
Tenure
Freehold.
Description
The property, a Grade II listed building, comprises retail and ancillary accommodation on the ground floor with additional ancillary accommodation on the first and second floors.
SIX WEEK COMPLETION
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 applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a Grade II listed building, comprises retail and ancillary accommodation on the ground floor with additional ancillary accommodation on the first and second floors.
SIX WEEK COMPLETION
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 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 Second
Retail/Ancillary Ancillary Ancillary
236.50 sq m 204.70 sq m 22.30 sq m
(2,544 sq ft) (2,202 sq ft) (240 sq ft)
SUPERDRUG STORES PLC (1)
10 years from 02/12/2009 on a full repairing and insuring lease
£77,000
02/12/2014
Totals
463.50 sq m
(4,986 sq ft)
£77,000
(1) For the year ending 28th December 2013, Superdrug Stores plc reported a turnover of £1,010,212,000, pre-tax profits of £28,982,000 and a total net worth of £122,235,000. (Source: www.riskdisk.com 03/06/2015) NB. The second floor is not currently being used by the tenant.
Contacts
Seller's Solicitors
Shepherd and Wedderburn LLP Condor House, 10 St Paul's Churchyard London EC4M 8AL
