Let to Coopland & Son (Scarborough) Limited (Lease Renewal)
New 5 year lease from June 2017
Rebased rent (previous rent £35,000 p.a.x.)
Nearby occupiers include Marks & Spencer, Boots the Chemist, Argos, WH Smith and adjacent to Oldrids Department Store
VAT-free Investment
Lot 42
Auction 19th October 2017
Rent £25,000 per Annum Exclusive
Status Sold
Price £366,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
34 miles south-east of Lincoln, 47 miles east of Nottingham
Roads
A16, A52
Rail
Boston Railway Station
Air
East Midlands Airport
Situation
The property is situated in an excellent trading location on the southern side of Strait Bargate, the prime retailing pitch in Boston town centre. Pescod Square Shopping Centre, housing retailers such as Costa, Next, Waterstones and Wilko, is located close by with other neighbouring occupiers including Marks & Spencer, New Look, WH Smith, Argos, Poundstretcher and branches of Nationwide, Lloyds and Halifax banks.
Tenure
Freehold.
Location
Miles
34 miles south-east of Lincoln, 47 miles east of Nottingham
Roads
A16, A52
Rail
Boston Railway Station
Air
East Midlands Airport
Situation
The property is situated in an excellent trading location on the southern side of Strait Bargate, the prime retailing pitch in Boston town centre. Pescod Square Shopping Centre, housing retailers such as Costa, Next, Waterstones and Wilko, is located close by with other neighbouring occupiers including Marks & Spencer, New Look, WH Smith, Argos, Poundstretcher and branches of Nationwide, Lloyds and Halifax banks.
Tenure
Freehold.
Description
The property comprises a ground floor shop 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 ground floor shop 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
Ground First Second Third
Retail Ancillary Ancillary Ancillary
76.46 sq m 55.37 sq m 56.21 sq m 48.70 sq m
(823 sq ft) (596 sq ft) (605 sq ft) (524 sq ft)
COOPLAND & SON (SCARBOROUGH) LIMITED (1) t/a Cooplands Bakery
5 years from 11/06/2017 on a full repairing and insuring lease
£25,000
Totals
236.74 sq m
(2,548 sq ft)
£25,000
(1) For the year ending 31st March 2016, Coopland & Son (Scarborough) Limited reported a turnover of £42,109,517, pre-tax profits of £1,734,794 and a total net worth of £12,178,819 (Source: Experian Group 20/07/2017). Founded in 1885, Cooplands are now one of the country's leading bakers with over 140 branches in the Yorkshire, Humberside, Lincolnshire and Teesside areas (Source: www.cooplands-bakery.co.uk 20/07/2017).
