76 - 78 High Street Sheerness Kent ME12 1NL

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
14th February 2019
Rent
£26,000 per Annum
Status
Sold
Price
£354,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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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 14th February 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

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.

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

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.

Description

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

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent 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.