Let for 5 years from December 2018 (by way of lease extension)
Well configured shop - approximately 405 sq m (4,360 sq ft)
Potential development/change of use to convert upper floors to residential (subject to lease and consents)
Town centre location in popular tourist and holiday destination
Nearby occupiers include Boots the Chemist, Holland & Barrett, Pandora, Costa Coffee, Co-op Food and H Samuel
Lot 14
Auction 11th July 2019
Rent £75,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
5 miles south of Cowes
15 miles south-west of Portsmouth
18 miles south of Southampton
Roads
A3020, A3054, M27, M275
Rail
Air
Southampton Airport
Situation
Newport is the county town of the Isle of Wight and is the centre of retail, administrative and industrial activity on the island. The town is well connected to surrounding towns, with fast passenger crossings to Ryde, Cowes and Yarmouth from the mainland. The property is situated on the southern side of High Street, in a prominent location close to St James' Square and St Thomas' Square. Nearby occupiers include Boots the Chemist, Holland & Barrett, Pandora, Costa Coffee, Co-op Food and H Samuel.
Tenure
Freehold.
Location
Miles
5 miles south of Cowes
15 miles south-west of Portsmouth
18 miles south of Southampton
Roads
A3020, A3054, M27, M275
Rail
Air
Southampton Airport
Situation
Newport is the county town of the Isle of Wight and is the centre of retail, administrative and industrial activity on the island. The town is well connected to surrounding towns, with fast passenger crossings to Ryde, Cowes and Yarmouth from the mainland. The property is situated on the southern side of High Street, in a prominent location close to St James' Square and St Thomas' Square. Nearby occupiers include Boots the Chemist, Holland & Barrett, Pandora, Costa Coffee, Co-op Food and H Samuel.
Tenure
Freehold.
Description
The property is arranged on ground and three upper floors to provide a large and well configured ground floor shop with office, storage and staff accommodation above. The upper floors benefit from an entrance fronting High Street.
VAT
VAT is applicable to this lot.
EPC
Band D. See legal pack at acuitus.co.uk
Description
The property is arranged on ground and three upper floors to provide a large and well configured ground floor shop with office, storage and staff accommodation above. The upper floors benefit from an entrance fronting High Street.
VAT
VAT is applicable to this lot.
EPC
Band D. See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Gross Internal Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground First Second Third/Attic
Retail Office/Ancillary Ancillary Ancillary
269.50 sq m 50.50 sq m 60.50 sq m 24.50 sq m
(2,901 sq ft) (544 sq ft) (651 sq ft) (264 sq ft)
A G RETAIL CARDS LIMITED (1) t/a Clintons
5 years from 22/12/2018 until 21/12/2023 on a full repairing and insuring lease
£75,000
Total
405.00 sq m
(4,360 sq ft)
£75,000
(1) 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 over 400 stores throughout the UK (Source: www.clintonsretail.com 06/06/2019).
