34 Market Place Great Yarmouth Norfolk NR30 1LX

34 Market Place
Great Yarmouth
Norfolk
NR30 1LX

Freehold Retail Investment

Let to Yours Clothing Limited t/a Bad Rhino on a recently renewed 10 year lease (subject to option)
Rebased rent
Prominent position on the pedestrianised Market Place
Tenant in occupation for over 20 years
Opposite Market Gate Shopping Centre
Nearby occupiers include Boots, Holland & Barrett, WH Smith and Santander

Lot
50
Auction
11th July 2019
Rent
£22,500 per Annum Exclusive
Status
Sold
Price
£230,000
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On Behalf of Trustees

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Freehold Retail Investment

Let to Yours Clothing Limited t/a Bad Rhino on a recently renewed 10 year lease (subject to option)
Rebased rent
Prominent position on the pedestrianised Market Place
Tenant in occupation for over 20 years
Opposite Market Gate Shopping Centre
Nearby occupiers include Boots, Holland & Barrett, WH Smith and Santander

Lot 50
Auction 11th July 2019
Rent £22,500 per Annum Exclusive
Status Sold
Price £230,000
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On Behalf of Trustees

Property Information

Location

Miles: 19 miles east of Norwich; 74 miles north of Colchester
Roads: A12, A47, A143
Rail: Great Yarmouth
Air: Norwich International Airport

Situation

The property occupies a prominent position on the western side of the pedestrianised Market Place. Market Place is a historic and bustling market street, which hosts its famous markets twice a week. Opposite the property is the Market Gate Shopping Centre, which houses occupiers including Boots, Wilko, Card Factory and JD Sports. Other nearby occupiers include Holland & Barrett, WH Smith and Santander.

Tenure

Freehold.

Location

Miles: 19 miles east of Norwich; 74 miles north of Colchester
Roads: A12, A47, A143
Rail: Great Yarmouth
Air: Norwich International Airport

Situation

Tenure

Freehold.

Description

The property comprises a Grade II listed four storey building currently arranged to provide a ground floor retail unit with basement, first and second floor ancillary accommodation. The basement is accessed via a hatch.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First Second Basement	Retail Ancillary Ancillary Ancillary	142.63 sq m 141.62 sq m 173.85 sq m 140.61 sq m	(1,535 sq ft) (1,524 sq ft) (1,871 sq ft) (1,514 sq ft)	YOURS CLOTHING LIMITED t/a Bad Rhino (1)	10 years from 25/03/2019 until 24/03/2029 on a full repairing and insuring lease (2)	£22,500	25/03/2024
Total		598.71 sq m	(6,444 sq ft)			£22,500

(1) Bad Rhino is part of Yours Clothing Group and was launched in 2015 as an extra size menswear brand (source: www.badrhino.com 11/06/2019). For the year ending 3rd February 2019, Yours Clothing Limited reported a turnover of £105,569,422, pre-tax profits of £12,439,587 and a total net worth of £14,029,528 (Source: Experian Group 17/06/2019).
(2) The lease provides a tenant option to determine on 25/03/2024.