Let to Savers Health and Beauty Limited until 2022 (subject to option)
Rebased rent (3)
Prime pedestrianised location
Neighbouring occupiers include Santander, WH Smith, Bonmarché, New Look and Peacocks
Lot 76
Auction 18th October 2018
Rent
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
75 miles south-east of London city centre, 16 miles east of Canterbury
Roads
M2 (junction 7), A253, A256
Rail
Ramsgate Railway Station (Approximately 1 hour 16 mins to London St Pancras International)
Air
London Gatwick Airport, Manston Airport
Situation
Ramsgate is a busy port on the east coast of Kent, with excellent links to the M2 via the A253. The property is prominently located on the south side of the pedestrianised High Street. Neighbouring occupiers include Santander, WH Smith, Bonmarché, New Look and Peacocks.
Tenure
Freehold.
Location
Miles
75 miles south-east of London city centre, 16 miles east of Canterbury
Roads
M2 (junction 7), A253, A256
Rail
Ramsgate Railway Station (Approximately 1 hour 16 mins to London St Pancras International)
Air
London Gatwick Airport, Manston Airport
Situation
Ramsgate is a busy port on the east coast of Kent, with excellent links to the M2 via the A253. The property is prominently located on the south side of the pedestrianised High Street. Neighbouring occupiers include Santander, WH Smith, Bonmarché, New Look and Peacocks.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation with ancillary accommodation on the first and second floors.
VAT
VAT is applicable to this lot.
EPC
D
Description
The property comprises ground floor retail accommodation with ancillary accommodation on the first and second floors.
VAT
VAT is applicable to this lot.
EPC
D
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground First Second
Retail Ancillary Ancillary
287.18 sq m 288.68 sq m 42.00 sq m
(3,091 sq ft) (3,107 sq ft) (452 sq ft)
SAVERS HEALTH AND BEAUTY (1)
5 years from 22/10/2017 (2) on a full repairing and insuring lease
£29,000
21/10/2022
Total
617.86 sq m
(6,650 sq ft)
£29,000
(1) Savers Health and Beauty Limited was incorporated in 1987 and trades from over 400 stores nationwide. For the year ending 31st December 2016, Savers Health and Beauty Limited reported a turnover of £416,708,000, pre-tax profits of £36,319,000, and a total net worth of negative £46,070,000 (Source: Experian Group 14/9/2018). (2) The lease provides for a tenant option to determine on 22/10/2020 subject to the tenant paying a penalty of £7,250. (3) The rent has been rebased from £50,000 per annum exclusive to £29,000 per annum exclusive.