Predominantly let to Nero Holdings Limited (t/a Caffè Nero)
Lease renewal from July 2017
Potential to convert first floor to residential (subject to existing lease and consents)
Close to County Square and Park Mall Shopping Centres
Pedestrianised corner location close to Marks & Spencer, Tesco Express, Costa, Wilko, Greggs and H&M
Lot 28
Auction 11th July 2018
Rent
Status Sold
Price £630,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
12 miles south-west of Canterbury, 26 miles east of Tunbridge Wells
Roads
A20, A28, M20
Rail
Ashford International Railway Station
Air
London Gatwick Airport
Situation
The property is situated on the northern side of the pedestrianised New Rents, close to its junction with High Street and Castle Street, in the heart of Ashford town centre. County Square and Park Mall Shopping Centres are both nearby, with retailers including Marks & Spencer, Costa, Wilko, Greggs and H&M. Other nearby occupiers include Tesco Express and branches of Lloyds, Halifax and RBS banks. Park Mall Car Park is a short walk away, providing car parking for approximately 300 cars.
Tenure
Freehold.
Location
Miles
12 miles south-west of Canterbury, 26 miles east of Tunbridge Wells
Roads
A20, A28, M20
Rail
Ashford International Railway Station
Air
London Gatwick Airport
Situation
The property is situated on the northern side of the pedestrianised New Rents, close to its junction with High Street and Castle Street, in the heart of Ashford town centre. County Square and Park Mall Shopping Centres are both nearby, with retailers including Marks & Spencer, Costa, Wilko, Greggs and H&M. Other nearby occupiers include Tesco Express and branches of Lloyds, Halifax and RBS banks. Park Mall Car Park is a short walk away, providing car parking for approximately 300 cars.
Tenure
Freehold.
Description
The property comprises a ground floor shop with separately accessed leisure/office 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 separately accessed leisure/office 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
Ground
Retail/Ancillary
167.22 sq m
(1,800 sq ft)
NERO HOLDINGS LIMITED (1) t/a Caffè Nero
5 years from 14/07/2017 until 13/07/2022
£34,500
First
Leisure/Office
145.48 sq m
(1,566 sq ft)
M. INGLIS & K. MILLAR t/a Pressure Point Escape Rooms (2)
3 years from 24/03/2017 until 23/03/2020
£12,500 rising to £14,000 in March 2019
Total
312.70 sq m
(3,366 sq ft)
£47,000
(1) For the year ending 31st May 2017, Nero Holdings Limited reported a turnover of £264,897,000, pre-tax profits of £25,896,000 and a total net worth of £217,488,000 (Source: Experian Group 08/06/2018). (2) Pressure Point Escape Rooms provide fictionally themed escape rooms to test problem solving abilities against the clock (Source: www.pressurepointescaperooms.co.uk 08/06/2018). The vendor holds a rent deposit £4,000.