8 / 8a The Pavement St Ives Cambridgeshire PE27 5AD

8 / 8a The Pavement
St Ives
Cambridgeshire
PE27 5AD

Freehold Retail Investment

Part let to Barnardo’s on a new 5 year lease (renewal)
Barnardo’s in occupation for at least 15 years
Part let to Countrywide Estate Agents (not in occupation)
Opportunity to convert self-contained upper parts to residential (subject to lease and consents)
Nearby occupiers include Boots the Chemist, Greggs, Costa Coffee, WHSmith, Holland & Barrett, Superdrug and Barclays, HSBC and Nationwide banks
VAT free investment
Affluent Cambridgeshire market town

Lot
16
Auction
14th February 2019
Rent
£42,000 per Annum
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment

Part let to Barnardo’s on a new 5 year lease (renewal)
Barnardo’s in occupation for at least 15 years
Part let to Countrywide Estate Agents (not in occupation)
Opportunity to convert self-contained upper parts to residential (subject to lease and consents)
Nearby occupiers include Boots the Chemist, Greggs, Costa Coffee, WHSmith, Holland & Barrett, Superdrug and Barclays, HSBC and Nationwide banks
VAT free investment
Affluent Cambridgeshire market town

Lot 16
Auction 14th February 2019
Rent £42,000 per Annum
Status Withdrawn Post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: 6 miles east of Huntingdon; 14 miles north-west of Cambridge
Roads: A1 (M), A14, A141
Air: London Stansted, Heathrow and Gatwick

Situation

St Ives is an affluent market town in Cambridgeshire, some 6 miles east of Huntingdon and 14 miles north-west of Cambridge. The property is located on the north side of The Pavement in a prominent town centre location, opposite the weekly St Ives street market on Market Hill. Other nearby occupiers including Boots the Chemist, WHSmith, Greggs, Costa Coffee, Holland & Barrett, Superdrug and HSBC, Nationwide and Barclays Bank.

Tenure

Freehold.

Location

Miles: 6 miles east of Huntingdon; 14 miles north-west of Cambridge
Roads: A1 (M), A14, A141
Air: London Stansted, Heathrow and Gatwick

Situation

Tenure

Freehold.

Description

The property comprises two shops, one arranged on ground floor only and the other arranged on the ground floor with self-contained offices on the first and second floors, accessed from the front. There is potential to convert the upper floors to residential, subject to the existing lease and consents.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
8	Ground	Retail/Ancillary	57.60 sq m	(620 sq ft)	BARNARDO’S (1)	5 years from 15/11/2018	£23,000	(14/11/2023)
8a	Ground First Second	Retail/Ancillary Offices/Ancillary Offices/Ancillary	38.09 sq m 45.52 sq m 40.41 sq m	(410 sq ft) (490 sq ft) (435 sq ft)	COUNTRYWIDE ESTATE AGENTS (2)	10 years from 25/03/2011	£19,000	(24/03/2021)
Total			181.62 sq m	(1,955 sq ft)			£42,000

(1) For the year ending 31st March 2017, Bernardo’s reported a total net worth of £2,153,000 (Source: Experian 18/12/2018).
(2) Countrywide is one of the leading providers in estate agency services and owns and operates over 60 brands of estate agents (Source: www.countrywide.co.uk). The tenant is not currently in occupation.