79 Marygate Berwick-upon-Tweed Northumberland TD15 1BA

79 Marygate
Berwick-upon-Tweed
Northumberland
TD15 1BA

Freehold Retail Investment

Retail unit let to Nero Holdings Limited t/a Caffè Nero until 2021
Residential planning consent granted for vacant upper floors
Affluent and attractive town centre location
Neighbouring occupiers include Home Bargains, Holland & Barrett, Boots, Costa, Greggs and Vodafone

Lot
41
Auction
14th February 2019
Rent
£23,000 per Annum Exclusive
Status
Sold
Price
£210,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment

Retail unit let to Nero Holdings Limited t/a Caffè Nero until 2021
Residential planning consent granted for vacant upper floors
Affluent and attractive town centre location
Neighbouring occupiers include Home Bargains, Holland & Barrett, Boots, Costa, Greggs and Vodafone

Lot 41
Auction 14th February 2019
Rent £23,000 per Annum Exclusive
Status Sold
Price £210,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 56 miles south of Edinburgh; 65 miles north of Newcastle
Roads: A1167, A1
Rail: Berwick-upon-Tweed Railway Station
Air: Newcastle Airport, Edinburgh Airport

Situation

The property is prominently situated on the south side of Marygate, in the heart of the town’s prime retail pitch. Neighbouring occupiers include Home Bargains, Holland & Barrett, Boots, Costa, Greggs and Vodafone.

Tenure

Freehold.

Location

Miles: 56 miles south of Edinburgh; 65 miles north of Newcastle
Roads: A1167, A1
Rail: Berwick-upon-Tweed Railway Station
Air: Newcastle Airport, Edinburgh Airport

Situation

Tenure

Freehold.

Description

The property comprises a lock-up retail unit on the ground floor and two vacant upper floors. The upper floors are accessed via the shop and are suitable for residential conversion, with existing planning consent granted for a 3-4 bedroom maisonette under reference 18/00053/LBC.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground	Retail	112.87 sq m	(1,215 sq ft)	NERO HOLDINGS LIMITED t/a Caffè Nero (1)	5 years from 14/10/2016 on a full repairing and insuring lease	£23,000	13/10/2021
First Second		59.64 sq m 67.07 sq m	(642 sq ft) (722 sq ft)	VACANT POSSESSION
Totals		239.58 sq m	(2,579 sq ft)			£23,000

(1) Caffè Nero is one of the largest coffee shop retailers in the UK and currently trades from more than 650 sites in the UK. For the year ending 31st May 2017, Nero Holdings Limited reported a turnover of £264,897,000, pre-tax profits of £25,896,000 and a total net worth of £217,488,000 (Source: Experian Group 8/11/2018).