Freehold Retail Investment
Freehold Retail Investment
The property is prominently situated on the eastern side of the pedestrianised High Street with nearby occupiers including McDonald’s, Savers, Monsoon and Boots Opticians. The Swan Shopping Centre is within close proximity and houses occupiers such as Tesco, Boots, New Look, Next and TK Maxx, along with 700 car parking spaces.
Freehold.
The property is prominently situated on the eastern side of the pedestrianised High Street with nearby occupiers including McDonald’s, Savers, Monsoon and Boots Opticians. The Swan Shopping Centre is within close proximity and houses occupiers such as Tesco, Boots, New Look, Next and TK Maxx, along with 700 car parking spaces.
Freehold.
The property comprises a ground floor retail unit with ancillary accommodation on first and second floors.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a ground floor retail unit with ancillary accommodation on first and second floors.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reversion | |
|---|---|---|---|---|---|---|---|
| Ground First Second |
Retail/Ancillary Ancillary Ancillary |
172.54 sq m 84.15 sq m 42.11 sq m |
(1,857 sq ft) (906 sq ft) (453 sq ft) |
COSTA LTD (1) and PIONEERS UK LTD (2) |
15 years from 23/09/2005 on a full repairing and insuring lease |
£55,000 | 23/09/2020 |
| Total |
298.80 sq m |
(3,216 sq ft) |
£55,000 | ||||
(1) For the year ending 1st March 2018, Costa Limited reported a turnover of £951,684,000, pre-tax profits of £105,215,000 and a total net worth of £521,738,000 (Source: Experian Group 15/01/2019).
(2) Pioneers UK Limited is a Costa Coffee franchisee that is also named as a tenant on the lease and remains jointly liable under the terms of the lease.
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