New 10 year renewed lease from March 2018 (subject to option)
Rent increased from £20,000 per annum
Nearby occupiers include Greggs, Costa, Boots the Chemist and a Co-operative Food supermarket
Prominent trading location in attractive Norfolk market town
VAT-free investment
Lot 17
Auction 24th May 2018
Rent £25,000 per Annum
Status Withdrawn Prior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
15 miles north-west of Norwich, 20 miles north-east of Thetford
Roads
A47
Rail
Dereham Railway Station
Air
London Stansted Airport
Situation
The property is located on the eastern side of High Street, close to Nelson Place Shopping Centre, in the heart of East Dereham town centre. Nearby occupiers include Greggs, Costa, Boots the Chemist, a Co-operative Food supermarket, Superdrug, Iceland and branches of HSBC, Halifax and Lloyds banks.
Tenure
Freehold.
Location
Miles
15 miles north-west of Norwich, 20 miles north-east of Thetford
Roads
A47
Rail
Dereham Railway Station
Air
London Stansted Airport
Situation
The property is located on the eastern side of High Street, close to Nelson Place Shopping Centre, in the heart of East Dereham town centre. Nearby occupiers include Greggs, Costa, Boots the Chemist, a Co-operative Food supermarket, Superdrug, Iceland and branches of HSBC, Halifax and Lloyds banks.
Tenure
Freehold.
Description
The property comprises a ground floor shop with ancillary accommodation on the first floor.
VAT
VAT is not 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.
VAT
VAT is not 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
Reviews
Ground First
Retail Ancillary
71.81 sq m 30.10 sq m
(773 sq ft) (324 sq ft)
TUI UK RETAIL LIMITED (1) t/a TUI
10 years from 25/03/2018 until 24/03/2028 (2) on a full repairing and insuring lease
£25,000
25/03/2023
Total
101.91 sq m
(1,097 sq ft)
£25,000
(1) In the UK and Ireland, TUI employ around 12,500 people, with over 600 travel agencies, with the wider TUI Group employing around 67,000 people and servicing 20 million customers. For the year ending 30 September 2017, TUI UK Retail Limited reported a turnover of £201,000,000, pre-tax profits of £1,000,000 and a total net worth of £191,000,000 (Sources: www.tui.co.uk and Experian Group 26/04/2018). (2) The lease provides for a tenant option to determine on the fifth anniversary of term commencement.
