Units 1, 2 & 3 and Co-operative Food Store Sea Road, Winchelsea Beach Winchelsea East Sussex TN36 4NA

Units 1, 2 & 3 and Co-operative Food Store
Sea Road, Winchelsea Beach
Winchelsea
East Sussex
TN36 4NA

Freehold Supermarket, Retail and Residential Investment

Majority income secured by Co-operative Group Food Limited until March 2028
Four residential flats on ASTs with planning for two further flats granted in 2010
Asset management opportunities and future development potential (subject to consents)
Approximate site area of 0.218 hectares (0.538 acres) with approximately 40 car parking spaces
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
14
Auction
23rd March 2016
Rent
£71,300 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Supermarket, Retail and Residential Investment

Majority income secured by Co-operative Group Food Limited until March 2028
Four residential flats on ASTs with planning for two further flats granted in 2010
Asset management opportunities and future development potential (subject to consents)
Approximate site area of 0.218 hectares (0.538 acres) with approximately 40 car parking spaces
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 14
Auction 23rd March 2016
Rent £71,300 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Supermarket/Convenience
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 26 miles north-east of Eastbourne, 32 miles south-west of Tunbridge Wells
Roads: A259
Rail: Winchelsea Rail
Air: London Gatwick

Situation

Winchelsea is an attractive coastal town located between Eastbourne and Folkestone. The property is situated to the southeast of the town centre on the western side of Sea Road, the main route from the town to the coast. The property lies adjacent to a public house, with Winchelsea Sands Holiday Park a few minutes’ walk and the seafront within 500 metres.

Tenure

Freehold.

Location

Miles: 26 miles north-east of Eastbourne, 32 miles south-west of Tunbridge Wells
Roads: A259
Rail: Winchelsea Rail
Air: London Gatwick

Situation

Tenure

Freehold.

Description

The property, an unbroken retail parade, comprises a convenience store (with Post Office and ATM) and two retail units with four residential flats above. The property benefits from a site area of approximately 0.218 hectares (0.538 acres) providing parking for some 40 cars.

Planning
Planning consent has been granted in August 2010 for the erection of 2 x two bedroom flats above the supermarket. For further details please go to Rother Council Planning Dept (www.rother.gov.uk Ref: RR/2010/1663/P).

Six Week Completion

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

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Reviews/ (Reversion)
–	Ground	Convenience Store/ Ancillary	381.54 sq m	(4,107 sq ft)	CO-OPERATIVE GROUP FOOD LIMITED (1)	30 years from 31/03/1998 until 30/03/2028	£36,000	31/03/2018 and 31/03/2023
1 – Winchelsea Beach Doctors Surgery	Ground	Medical	22.50 sq m	(242 sq ft)	INDIVIDUAL	10 years from March 2016 (2)	£11,000	(2026)
2 – The Cat’s Whiskers Hairdressers	Ground	Retail	60.40 sq m	(650 sq ft)
3	Ground	Storage	67.80 sq m	(730 sq ft)
Flat 1	First	Residential	2 Bedroom Flat		INDIVIDUALS	12 month AST from 27/04/2015	£6,300	(26/04/2016)
Flat 2	First	Residential	1 Bedroom Flat		INDIVIDUAL	24 month AST from 29/09/2014	£6,000	(28/09/2016)
Flat 3	First	Residential	1 Bedroom Flat		INDIVIDUALS	24 month AST from 29/09/2014	£6,000	(28/09/2016)
Flat 4	First	Residential	1 Bedroom Flat		INDIVIDUALS	24 month AST from 29/09/2014	£6,000	(28/09/2016)
Totals			532.34 sq m	(5,729 sq ft)			£71,300

(1) The Co-operative Group is the UK’s fifth biggest food retailer, operating across the country with almost 2,800 local, convenience and medium-size stores. (Source: www.co-operative.com 24/02/2016)
(2) The tenant previously had a lease over the demise from February 2006 and has sublet Unit 1. The lease provides for a three yearly option to determine.