Superdrug and Card Factory 78 - 80 High Street Sittingbourne Kent ME10 4PB

Superdrug and Card Factory
78 - 80 High Street
Sittingbourne
Kent
ME10 4PB

Freehold Retail Investment

Comprises two retail units entirely let to Superdrug Stores Plc
One unit sublet to Sportswift Limited t/a Card Factory
Town centre location adjacent to The Forum Shopping Centre
Popular London commuter town
Neighbouring occupiers include WH Smith, Boots the Chemist, Sports Direct, Holland & Barrett, Greggs, NatWest, Halifax and Barclays

Lot
26
Auction
11th December 2019
Rent
£60,000 per Annum Exclusive
Status
Sold
Price
£575,000
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Important Update

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Freehold Retail Investment

Comprises two retail units entirely let to Superdrug Stores Plc
One unit sublet to Sportswift Limited t/a Card Factory
Town centre location adjacent to The Forum Shopping Centre
Popular London commuter town
Neighbouring occupiers include WH Smith, Boots the Chemist, Sports Direct, Holland & Barrett, Greggs, NatWest, Halifax and Barclays

Lot 26
Auction 11th December 2019
Rent £60,000 per Annum Exclusive
Status Sold
Price £575,000
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Property Information

Location

Miles: 11 miles north-east of Maidstone; 15 miles south-west of Canterbury; 51 miles south-east of London
Roads: A249, A2, M2 (Junction 5)
Rail: Sittingbourne Rail
Air: London City Airport. London Southend Airport, London Gatwick Airport

Situation

Sittingbourne is popular and attractive London commuter town. The property is situated in a prominent position on High Street, the town's prime retailing thoroughfare, adjacent to the entrance of The Forum Shopping Centre. Neighbouring occupiers include Boots the Chemist, Sports Direct, Holland & Barrett, Greggs, NatWest, Halifax and Barclays.

Tenure

Freehold.

Location

Miles: 11 miles north-east of Maidstone; 15 miles south-west of Canterbury; 51 miles south-east of London
Roads: A249, A2, M2 (Junction 5)
Rail: Sittingbourne Rail
Air: London City Airport. London Southend Airport, London Gatwick Airport

Situation

Tenure

Freehold.

Description

The property comprises two self-contained retail units. 78 High Street comprises ground floor retail accommodation with first and basement floor ancillary accommodation and benefits from loading doors at the rear. 80 High Street comprises ground floor retail accommodation and first floor ancillary accommodation.

VAT

VAT is not applicable to this lot.

Note

The adjoining property 82-84 High Street let to Betfred is being offered as Lot 33.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk

Description

VAT

VAT is not applicable to this lot.

Note

The adjoining property 82-84 High Street let to Betfred is being offered as Lot 33.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
78	Ground First Basement	Retail Ancillary Ancillary	241.33 sq m 184.38 sq m 77.39 sq m	(2,598 sq ft) (1,985 sq ft) (833 sq ft)	SUPERDRUG STORES PLC (1)	5 years from 20/09/2017 (2) on a full repairing and insuring lease	£60,000	19/09/2022
80	Ground First	Retail Ancillary	145.23 sq m 132.55 sq m	(1,563 sq ft) (1,426 sq ft)	SUPERDRUG STORES PLC (1)		£60,000	19/09/2022
Totals			780.88 sq m	(8,405 sq ft)			£60,000

(1) For the year ending 29th December 2018, Superdrug Stores Plc reported a turnover of £1,283,161,000, pre-tax profits of £88,339,000 and a total net worth of £178,525,000 (Source: Experian Group 15/11/2019).
(2) Superdrug Stores Plc has a lease over the entire property and is subletting 80 High Street to Sportswift Limited t/a Card Factory on co terminus terms at a rent of £27,500 per annum. For the year ending 31st January 2019, Sportswift Limited reported a turnover of £417,167,000, pre-tax profits of £66,206,000 and a total net worth of £24,056,000 (Source: Experian Group 15/11/2019).

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.