Freehold Retail Investment
Freehold Retail Investment
Biggleswade, a market town with a population of 16,500, is located 47 miles north of central London and 20 miles south-west of Cambridge. The property is located in the town centre overlooking Market Square, close to its junction with St Andrews Street. There is a public car park and bus stops opposite the property. Nearby occupiers include Coral (adjacent), Boots, Lloyds Bank, Greggs, M&Co, Peacocks, Superdrug, Nationwide and Halifax Bank.
Freehold.
Biggleswade, a market town with a population of 16,500, is located 47 miles north of central London and 20 miles south-west of Cambridge. The property is located in the town centre overlooking Market Square, close to its junction with St Andrews Street. There is a public car park and bus stops opposite the property. Nearby occupiers include Coral (adjacent), Boots, Lloyds Bank, Greggs, M&Co, Peacocks, Superdrug, Nationwide and Halifax Bank.
Freehold.
The property comprises a ground floor café/bar with ancillary accommodation at first floor. The first floor is self-contained and accessed from Market Square. There is a service yard to the rear of the property providing 4 car parking spaces.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a ground floor café/bar with ancillary accommodation at first floor. The first floor is self-contained and accessed from Market Square. There is a service yard to the rear of the property providing 4 car parking spaces.
VAT is applicable to this lot.
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 | Reviews | |
|---|---|---|---|---|---|---|---|
| Ground First |
Retail Ancillary |
297 sq m 43.8 sq m |
(3,196 sq ft) (473 sq ft) |
LOUNGERS LIMITED (1) t/a Rosso Lounge |
15 years from 06/04/2018 on a full repairing and insuring lease |
£62,500 (2) | 06/04/2023 06/04/2028 |
| Total |
340.8 sq m |
(3,669 sq ft) | £62,500 (2) | ||||
(1) For the year ended 23rd April 2017, Loungers Limited reported a turnover of £91,752,588, pre-tax profits of £3,186,658 and a net worth of £8,458,107 (Source - Experian 13/09/2018). Founded in 2002, Loungers has 107 cafés nationwide (Source - www.thelounges.co.uk).
(2) The tenant benefits from a rent free period due to expire 6th April 2019. The Seller will adjust the completion monies so that the property effectively produces £62,500 per annum from completion of the sale.
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