127/128 High Street Newport Isle of Wight PO30 1TP

127/128 High Street
Newport
Isle of Wight
PO30 1TP

Freehold Retail Investment

Entirely let to Superdrug Stores plc
Tenant in occupation since at least 1984
Prime High Street Location
Nearby occupiers include Boots the Chemist, Waterstones, Clintons, Monsoon and Marks & Spencer
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
26
Auction
9th July 2015
Rent
£77,000 per Annum Exclusive
Status
Sold
Price
£840,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Trustees of a Major Pension Fund

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Freehold Retail Investment

Entirely let to Superdrug Stores plc
Tenant in occupation since at least 1984
Prime High Street Location
Nearby occupiers include Boots the Chemist, Waterstones, Clintons, Monsoon and Marks & Spencer
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 26
Auction 9th July 2015
Rent £77,000 per Annum Exclusive
Status Sold
Price £840,000
Sector
High Street Retail
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

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

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.