76 - 78 High Street
Sheerness
Kent
ME12 1NL

Freehold Retail Investment

  • Let to Holland & Barrett Retail Limited
  • Shop recently refurbished and re-fitted by tenant
  • Potential residential conversion opportunity of upper parts (subject to lease and consents)
  • Prominent town centre location close to Boots the Chemist, Greggs, Savers and Iceland
  • VAT-free retail investment
  • Lot
    11
  • Auction
    14/Feb/2019
  • Rent
    £26,000 per Annum
  • Status
    Sold
  • Price*
    £354,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 76 - 78 High Street<br>Sheerness<br>Kent<br>ME12 1NL
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* More information on the term "price" can be found here

Property Information

Location
Miles
16 miles north-east of Gillingham
26 miles north-west of Canterbury
50 miles south-east of Central London
Roads
A249, M2, M20
Rail
Sheerness-on-Sea Railway Station
Air
London Gatwick Airport
Situation

The property is prominently situated on the eastern side of High Street, north of its junction with Broadway, in the heart of Sheerness town centre. Nearby retailers include Boots the Chemist, Greggs, Savers and Iceland, with branches of Nationwide and Halifax banks also located nearby. Rose Street Car Park is located nearby with car parking for over 150 cars.

Tenure

Freehold.

Description

The property comprises a well configured double-fronted ground floor shop, with separately accessed accommodation on the first and second floors, most of which is not currently used by the tenant. Access to the upper parts is via a large garden to the rear.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x
Ground
First
Second
Retail/Ancillary
Ancillary
Ancillary
151.43 sq m
89.28 sq m
91.79 sq m
(1,630 sq ft)
(961 sq ft)
(988 sq ft)
HOLLAND &
BARRETT RETAIL
LIMITED (1)
5 years from 23/05/2018
(2) on a full repairing and
insuring lease
£26,000
Total
332.50 sq m
(3,579 sq ft)
  £26,000

(1) For the year ending 30th September 2017, Holland & Barrett Retail Limited reported a turnover of £461,408,000, pre-tax profits of £81,776,000 and a total net worth of £244,129,000 (Source: Experian Group 07/01/2019).
(2) The lease provides for a tenant option to determine on 23rd May 2020, which is subject to a three month rent penalty (£6,500) if exercised.

Property Documents

  • Catalogue Page
    Updated Date
    22.01.19
    File Size
    972 KB
    View PDF
  • Site Plan
    Updated Date
    22.01.19
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.01.19
    File Size
    143 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George WatkinsGeorge Watkins +44 (0)20 7034 4861george.watkins@acuitus.co.uk
Seller's Solicitors
Carritt & Co 15 Thayer Street
London
W1U 3JX
0207 636 1672
Denise Carritt 0207 323 2765dmc@carritt.co.uk

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