20 Queens Road
Hastings
East Sussex
TN34 1QY

Freehold Retail Investment with future development potential (1)

  • Let to TUI UK Retail Limited
  • New 5 year lease (2)
  • Prominent town centre location in popular coastal town
  • Future development potential (1)
  • Nearby occupiers include WHSmith, Pizza Express, Vodafone, Greggs and Marks & Spencer
  • VAT-free investment
  • Lot
    32
  • Auction
    14/Feb/2019
  • Rent
    £27,700 per Annum Exclusive
  • Status
    Sold Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of Trustees
Important Auction & Property Update
  • 20 Queens Road<br>Hastings<br>East Sussex<br>TN34 1QY
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
28 miles south-east of Royal Tunbridge Wells, 51 miles south-west of Dover, 70 miles south-east of central London
Roads
A259, A21, A27
Rail
Hastings Train Station
Air
London Gatwick Airport
Situation

Hastings is a historic town and popular holiday destination in East Sussex. The town is situated directly outside the High Weald Area of Natural Beauty some 28 miles southeast of Royal Tunbridge Wells, 51 miles south-west of Dover and 70 miles south-west of Central London. The property occupies a prominent position on the east side of the busy Queens Road (A2101), next to a number of bus stops and directly opposite the Priory Meadow Shopping Centre, which includes occupiers such as WHSmith, Pizza Express, Vodafone, JD Sports, EE, O2, Marks & Spencer and Superdrug. Other occupiers nearby include Greggs, Betfred, ODEON, Specsavers and Holland & Barrett.

Tenure

Freehold.

Description

The property comprises a ground floor shop with first floor ancillary accommodation. The second and third floors comprise three rooms, a kitchen and a bathroom and, along with the basement, is not currently used. The rear of the property is accessed via Russell Street.

VAT

VAT is not applicable to this lot.

Planning

(1) The upper floors of the property may benefit from conversion to a 3 bed and 1 bed flat, subject to the current occupation and all the necessary consents/permissions. Interested parties are referred to Hastings Borough Council (www.hastings.gov.uk).

EPC

Band E. See legal pack at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReversion
Ground
Basement
First,
Second &
Third
Retail/Ancillary
Ancillary
3 rooms,
kitchen and
bathroom
98.00 sq m
25.00 sq m
62.00 sq m
(1,055 sq ft)
(269 sq ft)
(667 sq ft)
TUI UK RETAIL
LIMITED
t/a TUI (3)
5 years from
08/11/2018 on a full
repairing and
insuring lease (2)
£27,70007/11/2023
(2)
Total
185.00 sq m
(1,991 sq ft)
  £27,700 

(2) There is a tenant only option to determine the lease at the end of the 3rd year, giving no less than 6 months’ written notice.
(3) For the year ended 30th September 2017, TUI UK Retail Limited reported a turnover of £201,000,000, pre-tax profits of £1,000,000 and a total net worth of £191,000,000 (Source: Experian 07/01/2019). TUI employs 12,500 people and operates in over 600 travel agencies across the UK and Ireland (Source: www.tui.co.uk/destinations/info/about-us).

Property Documents

  • Site Plan
    Updated Date
    22.01.19
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    22.01.19
    File Size
    838 KB
    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
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
George WatkinsGeorge Watkins +44 (0)20 7034 4861george.watkins@acuitus.co.uk
Seller's Solicitors
Cripps LLP Number 22, Mount Ephraim
tunbridge Wells
Kent
TN4 8AS
Oliver Copp 01892 506 240oliver.copp@crippspg.co.uk

Useful Links

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