Retail unit let to Nero Holdings Limited t/a Caffè Nero until 2021
Residential planning consent granted for vacant upper floors
Affluent and attractive town centre location
Neighbouring occupiers include Home Bargains, Holland & Barrett, Boots, Costa, Greggs and Vodafone
Lot 23
Auction 5th December 2018
Rent £23,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
56 miles south of Edinburgh
65 miles north of Newcastle
Roads
A1167, A1
Rail
Berwick-upon-Tweed Railway Station
Air
Newcastle Airport, Edinburgh Airport
Situation
The property is prominently situated on the south side of Marygate, in the heart of the town’s prime retail pitch. Neighbouring occupiers include Home Bargains, Holland & Barrett, Boots, Costa, Greggs and Vodafone.
Tenure
Freehold.
Location
Miles
56 miles south of Edinburgh
65 miles north of Newcastle
Roads
A1167, A1
Rail
Berwick-upon-Tweed Railway Station
Air
Newcastle Airport, Edinburgh Airport
Situation
The property is prominently situated on the south side of Marygate, in the heart of the town’s prime retail pitch. Neighbouring occupiers include Home Bargains, Holland & Barrett, Boots, Costa, Greggs and Vodafone.
Tenure
Freehold.
Description
The property comprises a lock-up retail unit on the ground floor and two vacant upper floors. The upper floors are accessed via the shop and are suitable for residential conversion, with existing planning consent granted for a 3-4 bedroom maisonette under reference 18/00053/LBC.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Available from the legal pack at acuitus.co.uk.
Description
The property comprises a lock-up retail unit on the ground floor and two vacant upper floors. The upper floors are accessed via the shop and are suitable for residential conversion, with existing planning consent granted for a 3-4 bedroom maisonette under reference 18/00053/LBC.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Available from the legal pack at acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground
Retail
112.87 sq m
(1,215 sq ft)
NERO HOLDINGS LIMITED t/a Caffè Nero (1)
5 years from 14/10/2016 on a full repairing and insuring lease
£23,000
13/10/2021
First Second
59.64 sq m 67.07 sq m
(642 sq ft) (722 sq ft)
VACANT POSSESSION
Total
239.58 sq m
(2,579 sq ft)
£23,000
(1) Caffè Nero is one of the largest coffee shop retailers in the UK and currently trades from more than 650 sites in the UK. For the year ending 31st May 2017, Nero Holdings Limited reported a turnover of £264,897,000, pre-tax profits of £25,896,000 and a total net worth of £217,488,000 (Source: Experian Group 8/11/2018).
