262 - 266 High Street
Bangor
Clwyd
LL57 1NY

Freehold Retail Investment

  • Prime position on pedestrianised High Street
  • Tenants include WH Smith Plc and Greggs Plc
  • Opposite both Menai and Deiniol Shopping Centres
  • Nearby occupiers include O2, Boots the Chemist, Holland & Barrett, JD Sports and NatWest Bank
  • Lot
    29
  • Auction
    23/May/2019
  • Rent
    £105,900 per Annum Exclusive
  • Status
    Withdrawn Prior
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
Important Auction & Property Update
  • 262 - 266 High Street<br>Bangor<br>Clwyd<br>LL57 1NY
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* More information on the term "price" can be found here

Property Information

Location
Miles
9 miles north-east of Caernarfon
20 miles south-west of Colwyn Bay
60 miles west of Chester
Roads
A5, A55, A487
Rail
Bangor Railway Station
Air
Liverpool John Lennon Airport
Situation

Bangor is an important university and cathedral city some four miles west of Snowdonia National Park. The property is prominently situated on the eastern side of the pedestrianised High Street in the heart of the city centre. The Menai Shopping Centre, with occupiers such as River Island, H&M and Superdrug, is some 75 metres away and the entrance to Deiniol Shopping Centre is some 30 metres away. Nearby occupiers include O2, Boots the Chemist, Holland & Barrett, JD Sports and NatWest Bank.

Tenure

Freehold.

Description

The property is three adjoining retail units comprising retail accommodation on the ground floor and ancillary accommodation on the first and second floors. The tenants of 264 and 266 do not currently occupy the second floors. Unit 262 is let on a long lease (see note 3).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack at acuitus.co.uk

Tenancy & Accommodation

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.xReversion
264Ground
First
Second
Retail
Ancillary
Unused
220.92 sq m
91.88 sq m
(2,378 sq ft)
(989 sq ft)
WH SMITH PLC (1)15 years
from
28/03/2006
£67,50027/03/2021
266Ground
First
Second
Retail
Ancillary
Unused
76.74 sq m
65.31 sq m
(826 sq ft)
(703 sq ft)
GREGGS PLC (2)10 years
from
18/11/2011
£38,40017/11/2021
Total
454.85 sq m
(4,896 sq ft)
  £105,900 

(1) For the year ending 31 August 2018, WH Smith Plc reported a turnover of £1,262,000,000, pre-tax profits of £134,000,000 and a total net worth of £140,000,000 (Source: Experian Group 24/04/2019).
(2) For the year ending 30 December 2017, Greggs Plc reported a turnover of £960,005,000, pre-tax profits of £71,945,000 and a total net worth of £284,626,000 (Source: Experian Group 24/04/2019).
(3) Unit 262 is let to Catuso Property Holdings Ltd for 999 years from 27/06/2012 at a peppercorn rent.

Property Documents

  • Catalogue Page
    Updated Date
    01.05.19
    File Size
    944 KB
    View PDF
  • Site Plan
    Updated Date
    01.05.19
    File Size
    5 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
Bower & Bailey Anchor House , 269 Banbury Road, Summertown
Oxford
OX2 7JF
Andrew Symington 01865 311 133asymington@bowerandbailey.co.uk

Useful Links

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