Let to Blue Cross on a reversionary lease until 2025 (no breaks)
Blue Cross incorporated in 1940, pre-tax profits of £4.196m and a net worth of £65.6m
Includes 3 bedroom flat let on an AST
50 metres from the Chantry Shopping Centre whose occupiers include Waitrose, Waterstones, The Body Shop, Pandora and Boots the Chemist
Other neighbouring occupiers include Clarks Shoes, Dorothy Perkins, Costa Coffee and Topshop
Lot 44
Auction 23rd May 2019
Rent £42,600 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
14 miles north-west of Winchester
29 miles north of Southampton
36 miles south-west of Reading
Roads
A34, A303, A3057, M4
Rail
Andover Railway Station
Air
Southampton Airport
Situation
The property is prominently situated in the heart of the town centre on the east side of the pedestrianised High Street, 50 metres from the Chantry Shopping Centre whose occupiers include Waitrose, Waterstones, The Body Shop, Pandora and Boots the Chemist. Other neighbouring occupiers include Clarks Shoes, Dorothy Perkins, Costa Coffee and Topshop.
Tenure
Freehold.
Location
Miles
14 miles north-west of Winchester
29 miles north of Southampton
36 miles south-west of Reading
Roads
A34, A303, A3057, M4
Rail
Andover Railway Station
Air
Southampton Airport
Situation
The property is prominently situated in the heart of the town centre on the east side of the pedestrianised High Street, 50 metres from the Chantry Shopping Centre whose occupiers include Waitrose, Waterstones, The Body Shop, Pandora and Boots the Chemist. Other neighbouring occupiers include Clarks Shoes, Dorothy Perkins, Costa Coffee and Topshop.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation and a self-contained 3 bedroom flat on the first floor which is accessed from the rear via Black Swan Yard. The property may be suitable for further residential development, subject to consents, by adding an additional floor and building on the large yard/car park at the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C. See legal pack at acuitus.co.uk
Description
The property comprises ground floor retail accommodation and a self-contained 3 bedroom flat on the first floor which is accessed from the rear via Black Swan Yard. The property may be suitable for further residential development, subject to consents, by adding an additional floor and building on the large yard/car park at the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C. See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Ground
Retail
142.64 sq m
(1,535 sq ft)
BLUE CROSS (1)
10 years from 23/08/2010 until 22/08/2020 with a full repairing and insuring reversionary lease until 2025 (2)
£33,000 (2)
23/08/2020 (22/08/2025)
First
Residential
3 Bedroom Flat
INDIVIDUAL
Let on an Assured Shorthold Tenancy
£9,600
Total
142.64 sq m
(1,535 sq ft)
£42,600
(1) Blue Cross is a registered animal welfare charity, which was incorporated in England and Wales under company number 00363197 in 1940 and for the year ending 31st December 2017, reported pre-tax profits of £4,961,000 and a total net worth of £65,604,000 (Source: Experian Group 15/04/2019). Blue Cross has been helping sick animals since 1897 and currently operates 54 charity shops, 34 rehoming locations and 16 pet care clinics including 5 mobile vet clinics in London (Source: www.bluecross.org.uk). (2) Under the terms of the reversionary lease, the tenant will benefit from a rent free period of 1 year from 23rd August 2020. On completion of the sale, the Seller will pay the Buyer the rent that would have been due in the absence of the rent free period.
