49-49a Broad Street Ross-On-Wye Herefordshire HR9 7DY

49-49a Broad Street
Ross-On-Wye
Herefordshire
HR9 7DY

Freehold Retail Investment

Entirely let to Peacocks Stores Limited
Lease expires in September 2024 (subject to option)
Approximately 4,817 sq ft
Nearby occupiers include WH Smith, Superdrug, Costa Coffee and Boots the Chemist
Attractive Herefordshire Market Town
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
30
Auction
25th May 2017
Rent
£37,666 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment

Entirely let to Peacocks Stores Limited
Lease expires in September 2024 (subject to option)
Approximately 4,817 sq ft
Nearby occupiers include WH Smith, Superdrug, Costa Coffee and Boots the Chemist
Attractive Herefordshire Market Town
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 30
Auction 25th May 2017
Rent £37,666 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 16 miles west of Gloucester, 24 miles south-west of Worcester
Roads: A40, A449, M50
Air: Bristol Airport

Situation

The property is located on the eastern side of Broad Street, north of its junction with Market Place and High Street, in the heart of the town centre. The Maltings Shopping Centre is located nearby housing occupiers including Sainsbury's Supermarket, Holland & Barrett and The Original Factory
Shop. Other nearby occupiers include WH Smith, Superdrug, Costa Coffee and Boots the Chemist.

Tenure

Freehold.

Location

Miles: 16 miles west of Gloucester, 24 miles south-west of Worcester
Roads: A40, A449, M50
Air: Bristol Airport

Situation

Tenure

Freehold.

Description

The property comprises two ground floor shops with sales/ancillary accommodation on the first floor and ancillary accommodation on the second/attic floor. Part of the property (49 Broad Street) comprises a self-contained lock-up shop and is not currently being used by the tenant.

VAT

VAT is 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

VAT

VAT is 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

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
49-49a	Ground First Second/Attic	Retail/Ancillary Retail/Ancillary Ancillary	253.43 sq m 172.70 sq m 21.37 sq m	(2,728 sq ft) (1,859 sq ft) (230 sq ft)	PEACOCKS STORES LIMITED (1)	25 years from 29/09/1999 until 28/09/2024 (2) on a full repairing and insuring lease (3)	£37,666 (4)	29/09/2019
Totals			447.50 sq m	(4,817 sq ft)			£37,666 (4)

(1) For the year ending 27th February 2016, Peacocks Stores Limited reported a turnover of £369,711,000, a pre-tax profit of £67,879,000 and a total net worth of £141,072,000 (Source: Experian Group 12/04/2017). Peacocks is part of the Edinburgh Woollen Mill Group which includes brands such as Edinburgh Woollen Mill, Jane Norman and Ponden Home (Source: www.peacockscorporate.co.uk 12/04/2017).
(2) The lease is subject to a tenant only break option on 31st March 2022, subject to six months’ prior written notice.
(3) The lease is full repairing and insuring subject to a Schedule of Condition.
(4) The tenant is currently benefiting from a rent free period from 1st April 2017 until 30th September 2017 as a result of the tenant break option moving from 28th September 2017 to 31st March 2022. The vendor has agreed to adjust the completion monies so that the property effectively produces £37,666 per annum from completion of the sale.