Nearby occupiers include Dorothy Perkins, Thorntons, Clarks, WH Smith and Burton
VAT free investment
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 59
Auction 19th May 2016
Rent £70,000 per Annum Exclusive
Status Sold
Price £730,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Receivers CBRE
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 Johns 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 approximately 2.5 million tourists who visit the island annually. The property is situated in a prominent position on the High Street and benefits from nearby occupiers including Dorothy Perkins, WH Smith, Burton and Clarks.
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 Johns 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 approximately 2.5 million tourists who visit the island annually. The property is situated in a prominent position on the High Street and benefits from nearby occupiers including Dorothy Perkins, WH Smith, Burton and Clarks.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with ancillary accommodation on first and second floors.
Six Week Completion
Note
This property is being marketed for sale on behalf of Fixed Charge 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 Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without
personal liability.
VAT
VAT is not 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 with ancillary accommodation on first and second floors.
Six Week Completion
Note
This property is being marketed for sale on behalf of Fixed Charge 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 Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without
personal liability.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review (Reversion)
Ground
Retail/Ancillary
109.62 sq m
(1,180 sq ft)
THE CARPHONE WAREHOUSE LIMITED (1)
10 years from and including16/08/2010 on a full repairing and insuring lease
£70,000
16/08/2015 (15/05/2020)
First
Ancillary
86.11 sq m
(927 sq ft)
Second
Ancillary
69.41 sq m
(747 sq ft)
Totals
265.14 sq m
(2,854 sq ft)
£70,000
(1) For the year ending 2nd May 2015, The Carphone Warehouse Limited reported a turnover of £2,056,123,000, pre-tax profits of £77,146,000 and a total net worth of £1,007,750,000 (Source: Experian Group 20/04/2016).
Contacts
Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street Leeds LS12 2HL
