The Original Factory Shop London Road Wrentham Suffolk NR34 7HJ

The Original Factory Shop
London Road
Wrentham
Suffolk
NR34 7HJ

Freehold Retail Investment

Let to The Factory Shop Limited until 2025 (no breaks)
Prominent position with good frontage to the A12
Rent rising to a minimum of £115,863 p.a.x in March 2020 (2)
Future development opportunity (subject to consents)

Lot
83
Auction
19th October 2017
Rent
£102,406 per Annum Exclusive
Status
Withdrawn Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Important Update Interested?

Expand
Photos
Map

Freehold Retail Investment

Let to The Factory Shop Limited until 2025 (no breaks)
Prominent position with good frontage to the A12
Rent rising to a minimum of £115,863 p.a.x in March 2020 (2)
Future development opportunity (subject to consents)

Lot 83
Auction 19th October 2017
Rent £102,406 per Annum Exclusive
Status Withdrawn Prior
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 45 miles north-east of Ipswich, 8 miles south-west of Lowestoft
Roads: A12
Air: Norwich International Airport

Situation

Wrentham is an attractive village located near to the famous Suffolk coastal town of Southwold. The property occupies a prominent position on London Road (A12), which leads onto High Street approximately 100 metres to the north. The property is situated in a predominantly residential area with Meadowlands, a new residential development, located diagonally opposite the site.

Tenure

Freehold.

Location

Miles: 45 miles north-east of Ipswich, 8 miles south-west of Lowestoft
Roads: A12
Air: Norwich International Airport

Situation

Tenure

Freehold.

Description

The property comprises a substantial building with retail accommodation on ground and storage accommodation to the upper level. The property benefits from a site area of approximately 0.87 acres (0.354 hectares) and 33 marked car parking spaces, with capacity for more.

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

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First	Retail/ Ancillary Ancillary	1,122.55 sq m 627.65 sq m	(12,083 sq ft) (6,756 sq ft)	THE FACTORY SHOP LIMITED t/a The Original Factory Shop (1)	25 years from 24/03/2000 until 24/03/2025	£102,406	24/03/2020 (2)
Total		1,750.20 sq m	(18,839 sq ft)			£102,406

(1) For the year ending 27th March 2016, The Factory Shop Limited reported a turnover of £184,496,000, pre-tax profits of £6,015,000 and a total net worth of £48,706,000 (Source: Experian Group 25/019/2017). The Original Factory Shop was established back in 1969 and now has over 200 stores across the UK (Source: www.tofs.com 25/09/2017).
(2) The lease provides for the rent to be reviewed to Open Market Rental Value or increase by 2.5% per annum compounded, whichever is the greater. Therefore, the rent will increase to a minimum of £115,863 pa on 24/03/2020.