Large double-fronted shop comprising approximately 12,479 sq ft NIA(15,510 sq ft GIA)
Prominent town centre location with nearby occupiers including Asda Supermarket, Superdrug and Boots the Chemist
Prosperous and historic market town
Lot 49
Auction 19th October 2017
Rent £130,000 per Annum Exclusive
Status Sold
Price £1,750,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
12 miles north-west of Ipswich, 15 miles south-east of Bury St Edmunds, 25 miles north of Colchester
Roads
A14, A134, A140, A11 & M11
Rail
Stowmarket Railway Station
Air
Norwich International Airport, London Stansted Airport
Situation
The property is situated in the town's prime trading location, on the southern side of the pedestrianised Market Place, which connects to Ipswich Street. Nearby occupiers include Asda Supermarket, Superdrug, Boots the Chemist, Greggs and branches of Lloyds, NatWest and Nationwide banks.
Tenure
Freehold.
Location
Miles
12 miles north-west of Ipswich, 15 miles south-east of Bury St Edmunds, 25 miles north of Colchester
Roads
A14, A134, A140, A11 & M11
Rail
Stowmarket Railway Station
Air
Norwich International Airport, London Stansted Airport
Situation
The property is situated in the town's prime trading location, on the southern side of the pedestrianised Market Place, which connects to Ipswich Street. Nearby occupiers include Asda Supermarket, Superdrug, Boots the Chemist, Greggs and branches of Lloyds, NatWest and Nationwide banks.
Tenure
Freehold.
Description
The property comprises a ground floor shop with ancillary accommodation on the first floor. To the rear of the property there is on-site car parking for 18 cars. The town’s main shoppers car park is close by.
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
The property comprises a ground floor shop with ancillary accommodation on the first floor. To the rear of the property there is on-site car parking for 18 cars. The town’s main shoppers car park is close by.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First
Retail/Ancillary Ancillary
614.46 sq m 544.88 sq m
(6,614 sq ft) (5,865 sq ft)
PEACOCKS STORES LIMITED (1)
13 years from 13/07/2009 until 12/07/2022 on a full repairing and insuring lease
£130,000
14/07/2019
Totals
1,159.34 sq m
(12,479 sq ft)
£130,000
(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 07/09/2017). Peacocks trade from some 450 stores and are a 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 07/09/2017).
