Bill's Restaurant let until 2039 (subject to option)
Prominent town centre location in affluent commuter town
Less than 100m from the Howard Shopping Centre
Strategic location between Sainsbury's and John Lewis
Lot 24
Auction 12th February 2020
Rent £115,000 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place Marble Arch London W1H 7TN
Property Information
Location
Miles
7 miles west of Hertford
24 miles north of Central London
Roads
A1(M) (Junctions 4, 5 & 6), A1000,
M25 (Junction 23)
Rail
Welwyn Garden City Railway Station
Air
London Luton Airport
Situation
Welwyn Garden City is an affluent commuter town approximately 20 miles north of London. The property is located in the heart of the town, occupying a prominent position on Howardsgate. The Howard Shopping Centre is less than 100m to the north-east and is adjacent to a busy mainline railway station providing regular services to London King's Cross in approximately 25 minutes. The Howard Shopping Centre houses occupiers including Marks & Spencer, H&M, Boots and WH Smith. Other nearby occupiers include Caffe Nero, Superdrug, Pizza Express, Prezzo and John Lewis.
Tenure
Virtual Freehold. 999 years held from Wigmores South Limited from 25th March 1988 at a peppercorn rent, plus share of the freehold. Please refer to the legal pack for further information.
Location
Miles
7 miles west of Hertford
24 miles north of Central London
Roads
A1(M) (Junctions 4, 5 & 6), A1000,
M25 (Junction 23)
Rail
Welwyn Garden City Railway Station
Air
London Luton Airport
Situation
Welwyn Garden City is an affluent commuter town approximately 20 miles north of London. The property is located in the heart of the town, occupying a prominent position on Howardsgate. The Howard Shopping Centre is less than 100m to the north-east and is adjacent to a busy mainline railway station providing regular services to London King's Cross in approximately 25 minutes. The Howard Shopping Centre houses occupiers including Marks & Spencer, H&M, Boots and WH Smith. Other nearby occupiers include Caffe Nero, Superdrug, Pizza Express, Prezzo and John Lewis.
Tenure
Virtual Freehold. 999 years held from Wigmores South Limited from 25th March 1988 at a peppercorn rent, plus share of the freehold. Please refer to the legal pack for further information.
Description
The property comprises two ground floor retail units, with unit 30 benefiting from an extensive return frontage onto Wigmores South. The two units share a service area, connecting to a rear communal service yard. The units form part of a larger building which does not form part of the sale.
VAT
VAT is applicable to this lot.
EPC
30 & 32 Howardsgate - Band C. Available to download at acuitus.co.uk
Description
The property comprises two ground floor retail units, with unit 30 benefiting from an extensive return frontage onto Wigmores South. The two units share a service area, connecting to a rear communal service yard. The units form part of a larger building which does not form part of the sale.
VAT
VAT is applicable to this lot.
EPC
30 & 32 Howardsgate - Band C. Available to download at acuitus.co.uk
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
No. 30
Ground
Retail/ Ancillary
214.61 sq m
(2,310 sq ft)
SUE RYDER (1)
10 years from 11/06/2014 until 23/06/2024
£50,000
No. 32
Ground
Restaurant/ Ancillary
305.65 sq m
(3,290 sq ft)
BILL’S RESTAURANTS LIMITED (2) on assignment from Prezzo Plc (3) t/a Bill’s
25 years from 08/08/2014 until 07/08/2039 (4)
£65,000
08/08/2024 and five yearly
Total
520.26 sq m
(5,600 sq ft)
£115,000
(1) Sue Ryder is a registered national charity providing health and social care services in local communities. Sue Ryder has 450+ shops across the UK (Source: www.sueryder.org 06/01/2020). (2) Bill's Restaurant & Bar have 82 restaurants across the UK (Source: 08/01/2020). (3) The property was assigned to Bill's Restaurants Limited on 26th September 2014 from Prezzo Plc, who have entered into an Authorised Guarantee Agreement (AGA). (4) The lease provides a tenant option to determine on 08/08/2029, subject to 12 months' notice.
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.
