14 / 18 High Street Heathfield East Sussex TN21 8LS

14 / 18 High Street
Heathfield
East Sussex
TN21 8LS

Freehold Retail Investment

Let to The Factory Shop Limited
New 16 year lease from September 2015 (subject to option)
Extensive shop frontage -approximately 19.8m (65ft)
Recently opened Waitrose nearby
Affluent East Sussex town
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
11
Auction
19th May 2016
Rent
£65,000 per Annum Exclusive
Status
Sold
Price
£775,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment

Let to The Factory Shop Limited
New 16 year lease from September 2015 (subject to option)
Extensive shop frontage -approximately 19.8m (65ft)
Recently opened Waitrose nearby
Affluent East Sussex town
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 11
Auction 19th May 2016
Rent £65,000 per Annum Exclusive
Status Sold
Price £775,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 13 miles south of Royal Tunbridge Wells, 16 miles north of Eastbourne, 23 miles north-east of Brighton
Roads: A21, A22, A265
Air: Gatwick Airport

Situation

The property is prominently situated on the northern side of High Street, close to its junction with Station Road, in the heart of the town centre. Other nearby occupiers include Costa Coffee and
branches of Lloyds, NatWest and Barclays banks, with a recently opened Waitrose, Sainsbury’s and Tesco Express also represented in the town.

Tenure

Freehold.

Location

Miles: 13 miles south of Royal Tunbridge Wells, 16 miles north of Eastbourne, 23 miles north-east of Brighton
Roads: A21, A22, A265
Air: Gatwick Airport

Situation

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation, with ancillary accommodation on the first floor. The property benefits from rear loading at first floor level and benefits from a free public
car park to the rear with parking for approximately 40 cars.

Six Week Completion

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	Reviews/ (Reversion)
Ground First	Retail/Ancillary Ancillary	361.11 sq m 248.33 sq m	(3,887 sq ft) (2,673 sq ft)	THE FACTORY SHOP LIMITED (1)	16 years from 14/09/2015 (2) on a full repairing and insuring lease	£65,000	14/09/2021 14/09/2026 (13/09/2031)
Totals		609.44 sq m	(6,560 sq ft)			£65,000

(1) For the year ending 29th March 2015, The Factory Shop Limited, with a D & B rating of 5A 2, reported a turnover of £174,334,000, pre-tax profits of £7,855,000 and a total net worth of £44,438,000. The Original Factory Shop trade from over 200 stores nationwide (Sources: Experian Group & www.theoriginalfactoryshop.co.uk 31/03/2016).
(2) The lease is subject to a tenant option to determine on 14th September 2026, subject to 9 months’ prior written notice and a £32,500 penalty if exercised.