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
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.
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
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.
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.
