Freehold Retail Investment
Freehold Retail Investment
The property is prominently situated on the eastern side of the pedestrianised Broad Street, north of its junction with New Conduit Street and south of its junction with Norfolk Street, in the heart of King’s Lynn town centre. Nearby occupiers include a Sainsbury’s supermarket, Greggs, Superdrug, Holland & Barrett, Iceland and Wilko, with the H&M development also close by.
Freehold.
The property is prominently situated on the eastern side of the pedestrianised Broad Street, north of its junction with New Conduit Street and south of its junction with Norfolk Street, in the heart of King’s Lynn town centre. Nearby occupiers include a Sainsbury’s supermarket, Greggs, Superdrug, Holland & Barrett, Iceland and Wilko, with the H&M development also close by.
Freehold.
The property comprises a well proportioned double-fronted ground floor shop with ancillary accommodation on the first floor.
VAT is applicable to this lot.
Six Week Completion
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a well proportioned double-fronted ground floor shop with ancillary accommodation on the first floor.
VAT is applicable to this lot.
Six Week Completion
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Ground First |
Retail/Ancillary Ancillary |
231.05 sq m 174.94 sq m |
(2,487 sq ft) (1,883 sq ft) |
CAVERSHAM TRADING LIMITED (1) t/a BrightHouse |
17 years from 29/05/2008 until 28/05/2025 (2) on a full repairing and insuring lease |
£75,000 | 29/05/2023 |
| Total |
405.99 sq m |
(4,370 sq ft) |
£75,000 | ||||
(1) BrightHouse operate from over 270 stores nationwide, serving more than 280,000 customers, and are the leading rent-to-own retail chain. For the year ending 31st March 2017, Caversham Trading Limited reported a turnover of £63,362,000, pre-tax profits of £-817,000 and a total net worth of £59,755,000 (Sources: www.brighthouse.co.uk and Experian Group 07/06/2018).
(2) The property was originally let for a term of 10 years from 29th May 2008, expiring on 28th May 2018. The lease was extended for a further 7 years to expire on 28th May 2025.
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