Let to WH Smith Retail Holdings Limited (no breaks)
Includes Post Office counter
Pedestrianised town centre location
Occupiers in Market Gates Shopping Centre include Boots the Chemist, JD Sports, Wilko, Superdrug and Starbucks
Other nearby occupiers include Holland & Barrett, Greggs, River Island and branches of Santander, Barclays and Halifax banks
Lot 66
Auction 11th July 2018
Rent £80,000 per Annum Exclusive
Status Sold
Price £650,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
19 miles east of Norwich, 74 miles north of Colchester
Roads
A12, A47, A143
Rail
Great Yarmouth Railway Station
Air
Norwich International Airport
Situation
Great Yarmouth is a popular Norfolk coastal town that benefits from a significant seasonal increase in demographic due to holidaying familys and day visitors. The property is prominently situated fronting the pedestrianised King Street, in the heart of Great Yarmouth town centre. Market Gates Shopping Centre is located approximately 50 metres away, with retailers including Boots the Chemist, JD Sports, Wilko, Superdrug and Starbucks. Other nearby occupiers include Holland & Barrett, Greggs, River Island and branches of Santander, Barclays and Halifax banks.
Tenure
Freehold.
Location
Miles
19 miles east of Norwich, 74 miles north of Colchester
Roads
A12, A47, A143
Rail
Great Yarmouth Railway Station
Air
Norwich International Airport
Situation
Great Yarmouth is a popular Norfolk coastal town that benefits from a significant seasonal increase in demographic due to holidaying familys and day visitors. The property is prominently situated fronting the pedestrianised King Street, in the heart of Great Yarmouth town centre. Market Gates Shopping Centre is located approximately 50 metres away, with retailers including Boots the Chemist, JD Sports, Wilko, Superdrug and Starbucks. Other nearby occupiers include Holland & Barrett, Greggs, River Island and branches of Santander, Barclays and Halifax banks.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation and first and second floor ancillary accommodation and a basement plant room. The property benefits from rear access.
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.
Description
The property comprises ground floor retail accommodation and first and second floor ancillary accommodation and a basement plant room. The property benefits from rear access.
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.
10 years from 01/03/2012 on a full repairing and insuring lease (2)
£80,000 (3)
01/03/2017 (21/02/2022) (2)
Total
1,041.37 sq m
(11,209 sq ft)
£80,000 (3)
(1) For the year ending 31st August 2017, WH Smith Retail Holdings Limited reported a turnover of £181,024,000, pre-tax profits of £67,219,000 and a total net worth of £449,954,000 (Source: Experian Group 18/06/2018). (2) The tenant has indicated that they would like to enter into negotiations for a new lease. (3) Rent rebased from £95,000 in 2012.
