52 - 54 Market Street
Ely
Cambridgeshire
CB7 4LS

Freehold Retail Parade and Office Investment

  • Tenants include William Hill Organization Limited and South Staffordshire & Shropshire NHS Foundation Trust
  • Approximately 530.94 sq m (5,715 sq ft)
  • Nearby occupiers include Waitrose, Boots, Wilko, Sports Direct, Fat Face, Costa, New Look, Pizza Express, WH Smith and Iceland
  • Short walk from Ely Cathedral - a popular tourist attraction
  • Attractive and affluent cathedral city
  • Lot
    48
  • Auction
    28/Mar/2018
  • Rent
    £65,257 per Annum Exclusive
  • Status
    Sold Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Property Update
  • 52 - 54 Market Street<br>Ely<br>Cambridgeshire<br>CB7 4LS
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Property Information

Location
Miles
14 miles north-east of Cambridge, 28 miles south of Kings Lynn
Roads
A10, A142
Rail
Ely Railway Station
Air
London Stansted Airport
Situation

Ely is an attractive and affluent city which is dominated by the large Norman Cathedral that is a popular tourist attraction. The property is located on the northern side of Market Street, opposite Chequer Lane, only a short walk from the cathedral. Nearby occupiers include Waitrose, Boots, Wilko, Sports Direct, Fat Face, Costa, New Look, Pizza Express, WH Smith and Iceland.

Tenure

Freehold.

Description

The property comprises three retail units on the ground floor and separately accessed self contained office accommodation at part ground and first floors, with access from Market Street. The shop trading as a Costcutter has a Post Office within the unit.

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

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews/
(Reversion)
1GroundRetail/
Ancillary
11.80 sq m
(127 sq ft)
I-VAPO LIMITED
t/a Phoenix Electronic
Cigarettes (1)
6 years from
04/12/2015 (2)
£6,000(03/12/2021)
2GroundRetail/
Ancillary
211.17 sq m
(2,273 sq ft)
INDIVIDUAL
t/a Costcutter (3)
15 years from
06/02/2015 (4)
£27,00006/02/2020 and
06/02/2025
(05/02/2030)
3GroundRetail/
Ancillary
68.10 sq m
(733 sq ft)
WILLIAM HILL
ORGANIZATION
LIMITED (5)
6 years from
10/05/2016 (6)
£17,50010/05/2019
(09/05/22)
Rear
Offices
Ground/
First
Offices/
Ancillary
166.20 sq m
(1,789 sq ft)
SOUTH
STAFFORDSHIRE
AND SHROPSHIRE
HEALTHCARE NHS
FOUNDATION TRUST
t/a NHS Market Street
Health Group
5 years from
01/04/2016
£14,75701/04/2019
(31/03/2021)
Front
Offices
FirstOffices/
Ancillary
73.67 sq m
(793 sq ft)
VACANT POSSESSION   
Totals 
530.94 sq m
(5,715 sq ft)
  £65,257 

(1) As to Unit 1, the tenant has been placed into administration.
(2) As to Unit 1, the lease provides an option to determine on 4th December 2018.
(3) As to unit 2, Costcutter is part of Costcutter Supermarkets Group which is a predominantly franchise business trading under Costcutter, Mace, Simply Fresh, Supershop and Kwiksave throughout the UK (Source: www.costcutter.co.uk 02/03/2018).
(4) As to unit 2, the lease provides for a tenant option to determine on 6th February 2020 and 2025.
(5) As to Unit 3, William Hill employ around 16,000 staff with 2,375 betting offices in the UK. For the year ending 27th December 2016, William Hill Organization Limited reported a turnover of £879,000,000, pre-tax profits of £223,500,000 and a total net worth of negative £710,000,000 (Sources: www.williamhillplc.com and Experian Group 02/03/2018).
(6) As to Unit 3, the lease provides for a tenant option to determine on 9th May 2019.

Property Documents

  • Catalogue Page
    Updated Date
    06.03.18
    File Size
    481 KB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44(0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Core Law 4 - 6 Dudley Road
Tunbridge Wells
Kent
TN1 1LF
Simon Judd 01892 511 102simon.judd@corelaw.co.uk

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