Town centre location close to bus station and Parc Prestatyn Shopping Centre
New lease to Cats Protection Trustee Limited (1)
Occupiers close by include HSBC, Heron, William Hill and Iceland
VAT-free investment
Lot 81
Auction 24th May 2018
Rent £18,000 per Annum Exclusive
Status Sold
Price £165,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of Mapeley
Property Information
Location
Miles
5 miles east of Rhyl, 14 miles east of Colwyn Bay, 30 miles north-west of Chester
Roads
A548, A55
Rail
Prestatyn Rail
Air
Liverpool John Lennon Airport
Situation
Prestatyn is a popular seaside resort town some 30 miles north-west of Chester. The property occupies a prominent position on the west side of High Street, close to its junction with Bridge Street, some 200 metres from Prestatyn Rail Station and 60 metres from Prestatyn bus station. Parc Prestatyn Shopping Centre is located close by where occupiers include Tesco, Boots, Next and TK Maxx. Nearby occupiers include HSBC, William Hill, Heron, Spar, Subway and Iceland.
Tenure
Freehold.
Location
Miles
5 miles east of Rhyl, 14 miles east of Colwyn Bay, 30 miles north-west of Chester
Roads
A548, A55
Rail
Prestatyn Rail
Air
Liverpool John Lennon Airport
Situation
Prestatyn is a popular seaside resort town some 30 miles north-west of Chester. The property occupies a prominent position on the west side of High Street, close to its junction with Bridge Street, some 200 metres from Prestatyn Rail Station and 60 metres from Prestatyn bus station. Parc Prestatyn Shopping Centre is located close by where occupiers include Tesco, Boots, Next and TK Maxx. Nearby occupiers include HSBC, William Hill, Heron, Spar, Subway and Iceland.
Tenure
Freehold.
Description
The property comprises a ground floor shop with basement ancillary accommodation.
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 basement ancillary accommodation.
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
Review
Ground Basement
Retail Ancillary
96 sq m 18.50 sq m
(1,033 sq ft) (199 sq ft)
CATS PROTECTION TRUSTEE LIMITED (2)
10 years from (1) on a full repairing and insuring lease subject to a schedule of condition (3)
£18,000 (4)
2023 (3)
Total
114.5 sq m
(1,232 sq ft)
£18,000
1) The Tenant has exchanged an agreement for lease conditional on landlord’s works. Completion of the sale will take place on the later of (i) 6 weeks from exchange and (ii) 5 working days after completion of the lease (in substantially the same form as that appended to the agreement for lease) provided that if the lease has not completed within 12 weeks of exchange, either party can terminate the sale contract (provided always that the lease has not yet completed) following which the deposit money shall be returned to the buyer. (2) Cats Protection is the UK’s largest feline welfare charity, with 32 centres and 89 shops nationwide (Source:- www.cats.org.uk). (3) Tenant’s option to determine in the 5th year on 6 months’ prior written notice. (4) There is a 3 month rent free period, but the Vendor will top up the rent so the buyer is effectively receiving £18,000 per annum from completion of the sale.
