Florence Walk Shopping Mall
North Street
Bishops Stortford
Hertfordshire
CM23 2NZ

Freehold Shopping Mall and Residential Ground Rent Investment

  • Attractive shopping mall in affluent market town
  • Close to Northgate and Link Road public car parks
  • Located between popular North Street and Waitrose supermarket
  • Nearby occupiers include Côte Restaurant, Bills Restaurant, Lloyds Bank, HSBC and Carluccios
  • Lot
    28
  • Auction
    26/Mar/2020
  • Rent
    £132,750 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
  • On behalf of a Major Fund Manager
Important Auction & Property Update
  • Florence Walk Shopping Mall<br>North Street<br>Bishops Stortford<br>Hertfordshire<br>CM23 2NZ
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  • Photos
  • Map

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

Property Information

Location
Miles
25 miles north of Central London
25 miles south of Cambridge
Roads
M11, M25
Rail
Bishops Stortford Rail
Air
Stansted International Airport
Situation

Bishops Stortford is a historic market town 25 miles north of Central London. The property is located in the town centre on the eastern side of North Street, one of the towns most sought after shopping streets. The shopping precinct provides a thoroughfare through to Waitrose supermarket, via Water Lane to the east. Nearby occupiers include Côte Restaurant, Pizza Express, Bills Restaurant, Lloyds Bank, HSBC , White Stuff, NatWest and Savills.

Tenure

Freehold.

Description

Florence Walk is a covered shopping mall comprising twelve ground floor units. There are six residential flats on the upper floors which have been let on long leases.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack at www.acuitus.co.uk

Tenancy & Accommodation

Unit No. UseFloor Areas (Approx)TenantTermRent p.a.x.Reviews/
Reversion
1Retail
19.78 sq m
(213 sq ft)
INDIVIDUAL
t/a Guy & Joe’s
15 years from
12/10/2015 (1)
£13,00012/10/2020
2Retail
20.07 sq m
(216 sq ft)
KOAR BOUTIQUE
LIMITED
(not in occupation)
3 years from
21/06/2017
£8,500(20/06/2020)
3Retail
25.46 sq m
(274 sq ft)
PHOENIX VAPERS
LIMITED
t/a Phoenix Electronic
Cigarettes
6 years from
28/10/2015
£10,000(27/10/2021)
4Retail
45.62 sq m
(491 sq ft)
SHUKA LONDON
LIMITED with personal
guarantee
10 years from
29/09/2016 (3)
£12,85020/09/2022
5Retail
45.71 sq m
(492 sq ft)
INDIVIDUALS10 years from
16/10/2019 (2)
£13,00016/10/2023
6Retail
45.89 sq m
(494 sq ft)
OLIVIA VAN DER
HORST LIMITED
3 years from
24/01/2020 (4)
£10,650(23/01/2023)
7Retail
80.36 sq m
(865 sq ft)
ST ELIZABETH’S
CENTRE
5 years from
18/12/2019
£13,750(17/12/2024)
8Retail
114.27 sq m
(1,230 sq ft)
VACANT (5)---
11Retail
26.85 sq m
(289 sq ft)
INDIVIDUAL
t/a Mosaic Gift Shop
10 years from
06/11/2018 (6)
£9,50006/11/2023
12Retail
32.52 sq m
(350 sq ft)
INDIVIDUAL
t/a Blink Gift Shop
3 years from
11/04/2018
£10,400(10/04/2021)
13/14Retail
81.66 sq m
(879 sq ft)
INDIVIDUALS
t/a Caffe Inn
10 years from
31/01/2011
£21,000(30/01/2021)
15Retail
33.35 sq m
(359 sq ft)
MINI MILKS
CHILDREN’S
BOUTIQUE LTD
5 years from
06/10/2015
£9,500(05/10/2020)
16 
Residential
INDIVIDUAL99 years from
29/09/1989
£100(28/09/2088)
17 
Residential
INDIVIDUAL125 years from
25/03/2002
£100(24/03/2127)
18 
Residential
INDIVIDUAL117 years 11 months
from 25/04/2008
£100(24/03/2126)
19 
Residential
INDIVIDUAL99 years from
29/09/1989
£100(28/09/2088)
20 
Residential
INDIVIDUAL99 years from
29/09/1989
£100(28/09/2088)
21 
Residential
INDIVIDUAL125 years from
25/03/2002
£100(24/03/2127)
Total
454.53 sq m
(4,914 sq ft)
  £132,750 

(1) The lease provides a tenant option to determine on 12th October 2020.
(2) The lease provides a tenant option to determine on 16th October 2023.
(3) The lease provides a tenant option to determine on 20th September 2021.
(4) The lease provides a tenant option to determine on 23rd January 2022.
(5) Terms for a new 5 year lease at £14,000 pa with an option to determine in the 3rd year have been agreed and are currently in solicitors hands, due to complete imminently. A 6 month rent free period. The seller will adjust completion monies so that the unit effectively produces £14,000 pa from completion of the sale.
(6) The lease provides a tenant option to determine on 5th November 2023.

If you are the successful bidder Acuitus requires a separate payment of £500 plus VAT (£600 inclusive of VAT) buyer's administration charge payable to Acuitus Limited

Property Documents

  • Solicitors Legal Pack
    Updated Date
    23.03.20
    File Size
    61 MB
    Login to View
  • Catalogue Page
    Updated Date
    04.03.20
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    04.03.20
    File Size
    522 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
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Fladgate LLP 16 Great Queen Street
London
WC2B 5DG
Jamie Brown 020 3036 7298 jbrown@fladgate.com

Useful Links

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