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 24th October 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
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.
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
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground
Retail
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
£7,446
29/09/2021 (27/02/2027)
First
Residentia
Not measured
INDIVIDUAL
99 year lease from 24/07/1992
£35
24/07/2025 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).
