56 Queens Way
Ipswich
Suffolk
IP3 9EX

Freehold Retail and Residential Investment

  • Shop let to Done Brothers (Cash Betting) Limited until 2027 guaranteed by Coral Racing Limited (no breaks)
  • Includes a residential flat with a 72 year remaining lease
  • Neighbouring occupiers include Boots and East of England Co-op food store
  • Lot
    41
  • Auction
    24/Oct/2019
  • Rent
    £7,481 per Annum Exclusive
  • Status
    Sold Prior
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • 56 Queens Way<br>Ipswich<br>Suffolk<br>IP3 9EX
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
2 miles east of Ipswich town centre
19 miles north-east of Colchester
54 miles south-east of Cambridge
65 miles north-east of London
Roads
A12, A14
Rail
Ipswich Railway Station
Air
London Stansted Airport
Situation

The property is prominently located within a local parade of shops on Queen's Way, in a predominantly residential area 2 miles east of Ipswich town centre and 2 miles west of the well established Ransomes Industrial Estate. Neighbouring occupiers include Boots, an East of England Co-op food store and a number of local retailers.

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation and a self-contained residential flat on the first floor.

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

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview/(Reversion)
GroundRetail
56.28 sq m
(605 sq ft)
DONE BROTHERS
(CASH BETTING)
LIMITED on Assignment and with an Authorised
Guarantee Agreement
(AGA) from CORAL
RACING LIMITED
t/a Betfred (1) (2)
16 years from
28/02/2011 on
a full repairing
and insuring
lease
£7,44629/09/2021
(27/02/2027)
FirstResidentia
Not measured
INDIVIDUAL99 year lease
from
24/07/1992
£3524/07/2025
and
24/07/2058
(23/07/2091)
Totals
56.28 sq m
(605 sq ft)
  £7,481 

(1) Established in 1967, as of July 2017, Betfred operates over 1,650 shops throughout the United Kingdom after the purchase of
322 shops due to the merger between fellow bookmakers Ladbrokes and Coral in October 2016
(Source: www.betfred.com/about 4/09/2019).
(2) For the year ending 31st December 2017, Coral Racing Limited reported a turnover of £598,371,000, pre-tax profits of £7,642,000 and total net worth of £75,914,000 (Source: Experian 26/09/2019).

Property Documents

  • Catalogue Page
    Updated Date
    02.10.19
    File Size
    817 KB
    View PDF
  • Site Plan
    Updated Date
    02.10.19
    File Size
    643 KB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Associate Auctioneers
Cliffe - Roberts Limited 1 Fernacre Business Park, Budds Lane
Romsey
SO51 0HA
Peter Cliffe-Roberts 01794 521 484peter@clifferoberts.com
Seller's Solicitors
Beeton Edwards LLP Unit C, Drivers Wharf Business ParkNortham Road
Southampton
Hampshire
SO14 0PF
Dominic Beeton 02380 382 850dominic@beetonedwards.co.uk

Useful Links

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