New 10 year lease from completion (subject to option)
Opposite Waitrose and close to White Stuff, Jigsaw, Joules and Caffè Nero
Excellent trading location in affluent market town
Lot 4
Auction 18th October 2018
Rent £32,500 per Annum Exclusive
Status Sold
Price £376,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
18 miles west of Newbury
31 miles east of Bath
Roads
A4, A346, M4 (Junction 15)
Rail
Pewsey Rail Station, Bedwyn Rail Station
Air
Bristol Airport
Situation
Marlborough is an affluent and attractive market town located in the North Wessex Downs, home to the famous Marlborough College. The property is situated on the northern side of High Street, opposite a Waitrose supermarket and a car park for 150 cars. Other nearby occupiers include White Stuff, Mint Velvet, Sea Salt, Jigsaw, Joules, Rick Stein’s and Caffè Nero, as well as branches of Lloyds, Barclays and NatWest banks. High Street provides car parking for approximately 100 cars.
Tenure
Long Leasehold. Held for a term of 150 years from and including 26th April 2013 at a peppercorn rent.
Location
Miles
18 miles west of Newbury
31 miles east of Bath
Roads
A4, A346, M4 (Junction 15)
Rail
Pewsey Rail Station, Bedwyn Rail Station
Air
Bristol Airport
Situation
Marlborough is an affluent and attractive market town located in the North Wessex Downs, home to the famous Marlborough College. The property is situated on the northern side of High Street, opposite a Waitrose supermarket and a car park for 150 cars. Other nearby occupiers include White Stuff, Mint Velvet, Sea Salt, Jigsaw, Joules, Rick Stein’s and Caffè Nero, as well as branches of Lloyds, Barclays and NatWest banks. High Street provides car parking for approximately 100 cars.
Tenure
Long Leasehold. Held for a term of 150 years from and including 26th April 2013 at a peppercorn rent.
Description
The property comprises a ground floor shop with a basement providing ancillary accommodation, forming part of a larger building.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor shop with a basement providing ancillary accommodation, forming part of a larger building.
VAT
VAT is applicable to this lot.
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 Ancillary
52.38 sq m 37.90 sq m
(566 sq ft) (408 sq ft)
RETAILER MARLBOROUGH 070 LIMITED t/a Moda in Pelle (1)
10 years from completion (2) on an effectively fully repairing and insuring lease
£32,500
November 2023 to Open Market Value
Total
90.28 sq m
(974 sq ft)
£32,500
(1) Moda in Pelle was founded in 1975 and sells women’s shoes and accessories. They currently operate from almost 50 locations nationwide, including Marlow, Amersham, Bath, London (Oxford Street), Manchester, Leeds, Sheffield (Meadowhall) and Harrogate (Source: www.modainpelle.com 12/09/2018). A six month rent deposit will be held by the landlord. (2) The lease is subject to a tenant option to determine on the fifth anniversary of the commencement of the term. A rent penalty, equivalent to 6 months’ rent (£16,250) is payable to the landlord if the tenant exercises the break option in 2023.
