29 - 33 Upper Brook Street Ipswich Suffolk IP4 1ED

29 - 33 Upper Brook Street
Ipswich
Suffolk
IP4 1ED

Freehold Retail Investment

Let to Savers Health and Beauty Limited
August 2018 tenant break option removed (see note 2)
Prominent town centre location
Nearby occupiers include Caffè Nero, Jack Wills, Costa, Starbucks, Sainsbury’s, Wilko and Greggs

Lot
36
Auction
7th December 2017
Rent
£55,000 per Annum Exclusive
Status
Sold
Price
£690,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment

Let to Savers Health and Beauty Limited
August 2018 tenant break option removed (see note 2)
Prominent town centre location
Nearby occupiers include Caffè Nero, Jack Wills, Costa, Starbucks, Sainsbury’s, Wilko and Greggs

Lot 36
Auction 7th December 2017
Rent £55,000 per Annum Exclusive
Status Sold
Price £690,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 19 miles north-east of Colchester, 54 miles south-east of Cambridge, 65 miles north-east of London
Roads: A12, A14
Rail: Ipswich Railway Station
Air: London Stansted Airport

Situation

The property is situated in the heart of Ipswich town centre on the east side of Upper Brook Street, opposite its junction with Buttermarket and 50 metres south of Tavern Street.
There is a large public car park to the rear and a bus stop adjacent. Nearby occupiers include Caffè Nero, Jack Wills, Costa, Starbucks, Sainsbury’s, Wilko and Greggs.

Tenure

Freehold.

Location

Miles: 19 miles north-east of Colchester, 54 miles south-east of Cambridge, 65 miles north-east of London
Roads: A12, A14
Rail: Ipswich Railway Station
Air: London Stansted Airport

Situation

Tenure

Freehold.

Description

The property comprises a double fronted unit providing ground floor retail accommodation and first floor ancillary accommodation.

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 double fronted unit providing ground floor retail accommodation and first floor ancillary accommodation.

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/ (Reversion)
Ground First	Retail/Ancillary Ancillary	317.99 sq m 209.96 sq m	(3,423 sq ft) (2,260 sq ft)	SAVERS HEALTH AND BEAUTY LIMITED (1)	10 years from 20/08/2013 on a full repairing and insuring lease	£55,000 (2)	20/08/2018 (19/08/2023)
Totals		527.95 sq m	(5,683 sq ft)			£55,000

(1) Savers was founded in 1988 and currently operates over 380 stores throughout the UK, employing over 3,000 personnel (www.savers.co.uk). Savers Health and Beauty Limited is ultimately owned by CK Hutchison Holdings Limited.
(2) A Deed of Variation has recently been completed to remove the 20th August 2018 tenant option to determine. The tenant will benefit from a rent free period from 25/12/2017 to 23/06/2018. The Seller has agreed to adjust the completion monies so that the property will effectively produce £55,000 per annum from completion of the sale.