20 / 22 Crown Street & 1 - 3 Bridge Street St Ives Cambridgeshire PE27 5AB

20 / 22 Crown Street & 1 - 3 Bridge Street
St Ives
Cambridgeshire
PE27 5AB

Freehold Retail Parade Investment

Fully let retail parade let to Mountain Warehouse, WH Smith and Clinton Cards
Prominent corner position
Affluent Cambridgeshire market town
Nearby occupiers include Superdrug, Fat Face, Costa Coffee and Lloyds Bank
Future residential development potential (subject to consents)

Lot
19
Auction
4th April 2019
Rent
£173,200 per Annum Exclusive
Status
Sold
Price
£1,850,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Parade Investment

Fully let retail parade let to Mountain Warehouse, WH Smith and Clinton Cards
Prominent corner position
Affluent Cambridgeshire market town
Nearby occupiers include Superdrug, Fat Face, Costa Coffee and Lloyds Bank
Future residential development potential (subject to consents)

Lot 19
Auction 4th April 2019
Rent £173,200 per Annum Exclusive
Status Sold
Price £1,850,000
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 14 miles north-west of Cambridge. The property is located within the town centre on the west side of Crown Street in a prominent corner position, adjacent to The Pavement. Nearby occupiers include Superdrug, Fat Face, Costa Coffee and Lloyds 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 four ground floor retail units with first and second floor ancillary accommodation. Units 3 and 4 are currently interconnected internally.

VAT

VAT is 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

The property comprises four ground floor retail units with first and second floor ancillary accommodation. Units 3 and 4 are currently interconnected internally.

VAT

VAT is 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	Reviews
Unit 1	Ground First Second	Retail/Ancillary Ancillary Ancillary	146.57 sq m 136.44 sq m Not Measured	(1,577 sq ft) (1,468 sq ft)	MOUNTAIN WAREHOUSE LIMITED (1)	10 years from 05/11/2018 (2)	£56,000	05/11/2023
Unit 2	Ground First Second	Retail/Ancillary Ancillary Ancillary	131.62 sq m 129.87 sq m Not Measured	(1,417 sq ft) (1,398 sq ft)	A G RETAIL CARDS LIMITED t/a Clintons (3)	5 years from 20/02/2019	£46,000
Unit 3	Ground First Second	Retail Ancillary Ancillary	112.45 sq m 129.87 sq m Not Measured	(1,210 sq ft) (1,135 sq ft)	WH SMITH RETAIL HOLDINGS LIMITED (4)	Approximately 15 years from 14/01/2008 until 29/09/2022	£43,500
Unit 4	Ground First Second	Retail Ancillary Ancillary	88.76 sq m 68.17 sq m	(955 sq ft) (734 sq ft)	WH SMITH RETAIL HOLDINGS LIMITED (4)	10 years from 30/09/2012	£27,700
Total			919.20 sq m	(9,894 sq ft)			£173,200

(1) For the year ending 25 February 2018, Mountain Warehouse Limited reported a turnover of £225,910,000, pre-tax profits of £20,810,000 and a total net worth of £80,270,000 (Source: Experian Group 05/03/2019).
(2) The lease provides a tenant option to determine on 04/11/2024.
(3) Clintons is the trading name of AG Retail Cards Limited. Clintons was established in 1968 and is a leading retailer of cards and gifts, operating circa 360 stores throughout the UK (Source: www.clintonsretail.com 06/03/2019).
(4) For the year ending 31st August 2017, WH Smith Retail Holdings Limited reported a turnover of £181,024,000, pre-tax profits of £67,219,000 and a total net worth of £449,954,000 (Source: Experian Group 05/03/2019).