Entirely let to T&S Stores Limited (a subsidiary of Tesco plc) t/a One Stop Convenience Store
Prominent roadside location within densely populated residential area
Forms part of a local retail parade
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
Lot 46
Auction 11th February 2016
Rent £30,030 per Annum Exclusive
Status Sold
Price £310,000
Sector High Street Retail
Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Joint LPA Receivers
Property Information
Location
Miles
15 miles north-west of Norwich
55 miles north-east of Cambridge
57 miles north-east of Peterborough
Roads
A47, B1147, A1075
Air
Norwich International Airport
Situation
The property is located in the town of Dereham in the county of Norfolk some 15 miles from Norwich. The property is situated in a predominantly residential area just east of the town centre on the main arterial route to the A27. Nearby occupiers include Sunflower House Chinese Takeaway, Gordon Barbers Funeral Directors, Norwich Road Garage and Norwich Fire and Rescue.
Tenure
Virtual Freehold. Held for a term of 999 years from 18/11/2002 until 17/11/3001 at a fixed rent of £100 pa.
Location
Miles
15 miles north-west of Norwich
55 miles north-east of Cambridge
57 miles north-east of Peterborough
Roads
A47, B1147, A1075
Air
Norwich International Airport
Situation
The property is located in the town of Dereham in the county of Norfolk some 15 miles from Norwich. The property is situated in a predominantly residential area just east of the town centre on the main arterial route to the A27. Nearby occupiers include Sunflower House Chinese Takeaway, Gordon Barbers Funeral Directors, Norwich Road Garage and Norwich Fire and Rescue.
Tenure
Virtual Freehold. Held for a term of 999 years from 18/11/2002 until 17/11/3001 at a fixed rent of £100 pa.
Description
The property comprises a ground floor retail unit which forms part of a retail parade.
Six Week Completion
NB
The adjoining unit, 41 Norwich Road, is being offered as lot in this catalogue.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
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 comprises a ground floor retail unit which forms part of a retail parade.
Six Week Completion
NB
The adjoining unit, 41 Norwich Road, is being offered as lot in this catalogue.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
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. (gross)
Reversion
Ground
Retail
277.22 sq m
(2,984 sq ft)
T&S STORES LIMITED (1) (t/a One Stop Convenience Store) (2)
20 years from 26/02/1999
£30,030
25/02/2019
Totals
277.22 sq m
(2,984 sq ft)
£30,030
(1) T&S Stores Limited is a wholly owned subsidiary of Tesco Plc. For the year ending 28th February 2015, T&S Stores Limited reported a total net worth of £573,589,000. (Source: Experian Group: 18/01/2016) (2) One Stop has been trading as a successful convenience franchise business for over 20 years and currently operates over 750 stores throughout England and Wales (Source: www.openaonestop.co.uk - 05/01/2016).
Contacts
Seller's Solicitors
DLA Piper LLP Victoria Square House, Victoria Square Birmingham B2 4DL
