Unit 2
43 / 45 Tavern Street
Ipswich
Suffolk
IP1 3AG

Virtual Freehold Retail Investment

  • Prominent pedestrianised town centre location
  • Let to Outdoor & Cycle Concepts Limited
  • Comprises 720.70 sq m (7,757 sq ft)
  • Nearby occupiers include EE, O2, Costa, McDonald’s, Santander, Jack Wills
  • Lot
    68
  • Auction
    05/Dec/2018
  • Rent
    £125,000 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Property Update
  • Unit 2<br>43 / 45 Tavern Street<br>Ipswich<br>Suffolk<br>IP1 3AG
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Property Information

Location
Miles
19 miles north-east of Colchester
54 miles south-east of Cambridge
65 miles north-east of London
Roads
A12, A14
Rail
Ipswich Railway Station
Air
London Stansted Airport
Situation

Ipswich is the county town of Suffolk and is a major commercial centre in the east of England, with a catchment population of approximately 230,000. The town is well located some 80 miles north-east of London via the A12 dual carriageway, which provides a direct link with the M25 motorway. Communications are also enhanced by the A14 east-west trunk road being approximately 2 miles from the town centre. There are regular rail services to London Liverpool Street. The property is situated in the heart of Ipswich town centre on the northern side of Tavern Street, close to its junction with Upper Brook Street and 50 metres from Buttermarket. Nearby occupiers include EE, O2, Costa, McDonald’s, Santander, Jack Wills and Superdrug.

Tenure

Virtual Freehold. For a term of 999 years from completion at a peppercorn.

Description

This Grade II listed property comprises a large ground floor shop with ancillary first floor accommodation. (The property to be sold forms part of a larger building which is not included in the sale) The large ground floor shop could be divided, subject to all the necessary consents, to comprise two ground floor shops.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC Rating is available from the legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReversion
Ground
First
Retail
Ancillary
418 sq m
302.7 sq m
(4,499 sq ft)
(3,258 sqft)
OUTDOOR AND CYCLE
CONCEPTS LIMITED
t/a Cotswold (1)
10 years from
13/04/2011
£125,0002021
Total
720.70 sq m
(7,757 sq ft)
  £125,000 

(1) For the year ended 31st December 2017, Outdoor and Cycle Concepts Limited reported a turnover of £197,327,000, a pre-tax loss of £6,732,000 and a negative net worth of £46,424,000 (Source : Experian 05/11/2018). Outdoor and Cycle Concepts Limited operates from 78 shops in the UK – “inspiring adventures since 1974” (Source: www.cotswoldoutdoor.com).

Property Documents

  • Solicitors Legal Pack
    Updated Date
    15.11.18
    File Size
    101 MB
    Login to View
  • Catalogue Page
    Updated Date
    14.11.18
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    14.11.18
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Venator Legal Services Ltd Sandy Hill House, Sandy Hill Lane
Weybourne
Norfolk
NR25 7HW
Philip Hunter 01263 588 630philip.hunter@venatorlegal.com

Useful Links

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