262 - 266 High Street Bangor Clwyd LL57 1NY

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
23rd 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Withdrawn Prior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

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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 23rd 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Status Withdrawn Prior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

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.

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

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

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack at acuitus.co.uk

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
264	Ground 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	£67,500	27/03/2021
266	Ground 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	£38,400	17/11/2021
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.