35 Chesham High Street
Chesham
Bucks
HP5 1BW

Retail Investment

  • Let to Blacks Outdoor Retail Limited (t/a Millets) part of JD Sports Fashion Plc until 2028 (subject to option)
  • Prominent town centre position
  • Attractive market town in the Chiltern Hills
  • Neighbouring occupiers include Boots Chemist, TUI, Greggs, Waterstones, Costa, Superdrug and M&Co
  • Lot
    35
  • Auction
    14/Feb/2019
  • Rent
    £32,500 per
  • Status
    Withdrawn Prior
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 35 Chesham High Street<br>Chesham<br>Bucks<br>HP5 1BW
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* More information on the term "price" can be found here

Property Information

Location
Miles
11 miles south-east of Aylesbury, 25 miles north-west of London
Roads
M25, M4, M40, M1
Rail
Chesham Underground Station (Metropolitan Line)
Air
London Heathrow Airport, London Luton Airport
Situation

Chesham is an attractive Buckinghamshire market town situated on the south side of the Chiltern Hills. The property is located in a prominent trading position on the north side of the pedestrianised High Street, close to the junction with Station Road. Neighbouring occupiers include Boots Chemist, TUI, Greggs, Waterstones, Costa, Superdrug and M&Co, as well as being in close proximity to Sainsbury’s and Waitrose.

Tenure

Virtual Freehold. Held for term of 999 years from completion of the sale at a fixed peppercorn rent.

Description

The property comprises a self-contained retail unit with ground floor accommodation. The property benefits from rear access via East Street which provides delivery access and car parking for approximately 4 cars. The property forms part of a larger building that has been converted to residential use and does not form part of this sale.

VAT

VAT is applicable to this lot.

EPC

Band D

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview/
(Reversion)
GroundRetail
195.83 sq m
(2,108 sq ft)
BLACKS OUTDOOR
RETAIL LIMITED (1) (2)
t/a Millets
10 years from
21/09/2018 (3)
£32,500 (4)20/09/2023
(20/09/2028)
Totals
195.83 sq m
(2,108 sq ft)
  £32,500 

(1) For the year ending 3rd February 2018, Blacks Outdoor Retail Limited reported a turnover of £157,561,000, pre-tax profits of £3,513,000 and a total net worth of negative -£36,872,000 (Source: Experian Group 17/01/2019).
(2) Blacks Outdoor Retail Limited is a subsidiary (and part of The Outdoor Division) of JD Sports Fashion Plc, currently trading from around 100 Millets and 57 Blacks stores (Source: www.jdplc.com 17/01/2019).
(3) The lease provides for a tenant option to determine the lease on 20/09/2023.
(4) Under the terms of the lease, the rent reserved is £2,500 per annum exclusive until 20th September 2019, when the rent increases to £32,500 per annum exclusive. The seller will pay the buyer the difference between £2,500 p.a.x. and £32,500 p.a.x. from completion of the sale until 20th September 2019. Therefore, the property will produce £32,500 p.a.x. from completion of the sale.

Property Documents

  • Catalogue Page
    Updated Date
    22.01.19
    File Size
    777 KB
    View PDF
  • Site Plan
    Updated Date
    22.01.19
    File Size
    2 MB
    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
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44(0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Attwells Solicitors LLP Sun Buildings, 35-37 Princes Street
Ipswich
IP1 1PU
Matthew Desborough 01473 229 869Matthew.Desborough@attwells.com

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