Freehold Retail, Workshop and Residential Investment
Majority let to DP Realty Limited (t/a Domino's Pizza) until 2027
Popular south coast town
300 metres from the seafront and 100 metres south of Bexhill Rail Station
Six Week Completion Available
Lot 45
Auction 26th May 2011
Rent £25,201 per Annum Exclusive
Status Withdrawn Prior
Price
Sector High Street Retail
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
10 miles east of Eastbourne, 6 miles west of Hastings, 35 miles south of Royal Tunbridge Wells
Roads
A259, A21
Rail
Bexhill Rail Station
Air
Brighton Airport, Gatwick Airport
Situation
Bexhill-on-Sea is an affluent and busy south coast town that is popular with seasonal day visitors. The property is situated on the west side of the busy Sea Road opposite the junction with Jameson Road and some 100 metres south of Bexhill Rail Station and 300 metres from the seafront. Neighbouring occupiers in Sea Road include Budgens and Tote Sport. Other occupiers in Bexhill-on-Sea include Nationwide, The Original Factory Shop, Lloyds TSB, NatWest, Subway and W H Smith.
Tenure
Freehold.
Location
Miles
10 miles east of Eastbourne, 6 miles west of Hastings, 35 miles south of Royal Tunbridge Wells
Roads
A259, A21
Rail
Bexhill Rail Station
Air
Brighton Airport, Gatwick Airport
Situation
Bexhill-on-Sea is an affluent and busy south coast town that is popular with seasonal day visitors. The property is situated on the west side of the busy Sea Road opposite the junction with Jameson Road and some 100 metres south of Bexhill Rail Station and 300 metres from the seafront. Neighbouring occupiers in Sea Road include Budgens and Tote Sport. Other occupiers in Bexhill-on-Sea include Nationwide, The Original Factory Shop, Lloyds TSB, NatWest, Subway and W H Smith.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation to the front of the property and self-contained storage and premises at the rear of the property accessible via a side passage. The storage area benefits from first floor office and ancillary accommodation. The remainder of the first floor and second floor comprises residential accommodation.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground floor retail accommodation to the front of the property and self-contained storage and premises at the rear of the property accessible via a side passage. The storage area benefits from first floor office and ancillary accommodation. The remainder of the first floor and second floor comprises residential accommodation.
VAT
VAT is not applicable to this lot.
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
Reviews
Ground
Retail
96.00 sq m
(1,393 sq ft)
DP REALTY LIMITED (t/a Dominos Pizza) (1)
20 years from 07/10/2007 until 06/10/2027
£20,000
07/10/2012 and 5 yearly
Ground First
Office & Workshop Office & Ancillary
120.00 sq m 39.00 sq m
(1,292 sq ft) (420 sq ft)
AN INDIVIDUAL
5 year lease from May 2011 (2) (3)
£5,200
May 2014 (3)
Part First & Second
Residential
124.00 sq m
(1,340 sq ft)
AN INDIVIDUAL
999 years from October 2004
£1.00
Commercial Floor Area
379.00 sq m
(4,082 sq ft)
£25,201
(1) For the year ending 27th December 2009, DP Realty Limited reported a turnover of £12,213,000, pre-tax profits of £523,000 and a total net worth of £1,108,000. (Source: www.riskdisk.com 11/04/2011) DP Realty Limited is a wholly owned subsidiary of Domino's UK & Ireland plc who operate 665 stores nationwide and in the Republic of Ireland. Domino's Pizza UK & Ireland plc has announced the acquisition of 75% of Intergrowth Enterprises Limited (Domino's Germany), the master franchisee in Germany. (Source: www.dominos.uk.com) (2) The seller holds a rent deposit equal to 3 months' rent which is to be held for the period of occupation. (3) The lease provides for a fixed increase in rent to £6,000 per annum exclusive in May 2014.
