19 - 20 Market Place Boston Lincolnshire PE21 6EH

19 - 20 Market Place
Boston
Lincolnshire
PE21 6EH

Freehold Retail Investment

  • Let to Kruidvat Real Estate UK Limited t/a Savers, guaranteed by Superdrug Stores Plc by way of a reversionary lease
  • Prominent town centre location in affluent Lincolnshire market town
  • Nearby occupiers include Marks & Spencer, Poundstretcher, Greggs, Boots and Coral.
  • Rent of £65,000 per annum exclusive rising to £69,000 p.a.x in 2020
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    45
  • Auction
    7th July 2016
  • Rent
    £65,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £725,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
Important Update
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  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail Investment

  • Let to Kruidvat Real Estate UK Limited t/a Savers, guaranteed by Superdrug Stores Plc by way of a reversionary lease
  • Prominent town centre location in affluent Lincolnshire market town
  • Nearby occupiers include Marks & Spencer, Poundstretcher, Greggs, Boots and Coral.
  • Rent of £65,000 per annum exclusive rising to £69,000 p.a.x in 2020
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 45
  • Auction 7th July 2016
  • Rent
  • Status Sold
  • Price £725,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG

Property Information

Location
Miles
47 miles east of Nottingham, 34 miles south-east of Lincoln
Roads
A16, A52
Rail
Boston Rail
Air
East Midlands Airport
Situation

Boston is an affluent market town located in south Lincolnshire. The property is situated in the well established retailing thoroughfare of Market Place, at its junction with Cornhill Lane and a short distance from Strait Bargate, the main pedestrianised retail pitch. The historic Market Place benefits from parking for approximately 120 cars and is home to the famous Boston market which is held twice a week. Nearby occupiers include Marks & Spencer, Poundstretcher, Greggs Baker, Boots and Coral.

Tenure

Freehold.

Location
Miles
47 miles east of Nottingham, 34 miles south-east of Lincoln
Roads
A16, A52
Rail
Boston Rail
Air
East Midlands Airport
Situation

Boston is an affluent market town located in south Lincolnshire. The property is situated in the well established retailing thoroughfare of Market Place, at its junction with Cornhill Lane and a short distance from Strait Bargate, the main pedestrianised retail pitch. The historic Market Place benefits from parking for approximately 120 cars and is home to the famous Boston market which is held twice a week. Nearby occupiers include Marks & Spencer, Poundstretcher, Greggs Baker, Boots and Coral.

Tenure

Freehold.

Description

The property comprises a Grade II listed ground floor retail unit with ancillary accommodation on the first and second floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a Grade II listed ground floor retail unit with ancillary accommodation on the first and second floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

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 Reversion
Ground
First
Second
Retail
Ancillary
Ancillary
257.71 sq m
104.05 sq m
49.06 sq m
(2,774 sq ft)
(1,120 sq ft)
(528 sq ft)
KRUIDVAT REAL
ESTATE UK LIMITED
(t/a Savers) (1)
GUARANTEED BY
SUPERDRUG
STORES PLC (2)
10 years from 24/06/2012
on a full repairing and
insuring lease by way of a reversionary lease (3)
£65,000 23/06/2022
Total  
410.82 sq m
(4,422 sq ft)
    £65,000 rising to
£69,000 in 2020 (4)

(1) Savers specialise in branded health, home and beauty products at everyday low prices with currently 300 stores trading across the UK. (Source: savers.co.uk 25/05/2016)
(2) For the year ending 27th December 2014, Superdrug Stores Plc reported a turnover of £1,058,047,000, pre-tax profits of £38,044,000 and a total net worth of £138,513,000. (Source: Experian Group 25/05/2016)
(3) The current lease is for a term of 5 years expiring 23rd June 2017, although, in addition, a reversionary lease is in place from expiry of the current term until 23rd June 2022. Kruivdat Real Estate UK Limited will benefit from a 6 month rent free period at the beginning of the reversionary lease. The seller has agreed to adjust the completion monies so that the unit will effectively produce £65,000 p.a.x. from completion of the sale.
(4) The lease provides fixed rental increase to £69,000 p.a.x on 24th June 2020.

Property Documents

  • Site Plan
    Updated Date
    30.10.19
    File Size
    66 KB
    View PDF
  • Catalogue Page
    Updated Date
    30.10.19
    File Size
    617 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Associate Auctioneers
Massena IAF
James Reiff 07803 041 435james.reiff@massena-iaf.co.uk
Seller's Solicitors
Hamlins Roxburghe House273-287 Regent Street
London
W1B 2AD
Mark Hurst +44 (0)20 7355 6024mark.hurst@hamlins.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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