Freehold Highly Secure Investment Opportunity with Development/Change of Use Potential
Let to Booker Retail Partners (GB) Limited - a part of Tesco Plc
Let for a further 17 years until March 2037 (No breaks)
Approximate site area 0.37 acres (0.15 hectares) with parking for approximately 30 cars
Future Change of Use/Development Potential (subject to existing lease and necessary consents)
Affluent and attractive Cambridgeshire market town
Lot 3
Auction 21st May 2020
Rent £80,000 per Annum Exclusive
Status Sold
Price £1,042,000
Sector Development
Auction Venue Live Streamed Auction
On the Instructions of Co-Operative Group
Property Information
Location
Miles
19 miles south-east of Peterborough
21 miles north of Cambridge
Roads
A141, A142, A14, A1(M)
Air
London Stansted
Situation
Chatteris is an affluent and attractive market town in Cambridgeshire, about 21 miles north of Cambridge. Chatteris provides good access to the A1 (M) via A141. The property is located in a central town location on the east side of High Street, at a prominent location at its junction with Railway Lane and overlooking Jubilee Gardens town square. Nearby occupiers include Post Office, Nisa and various independent shops, cafés and restaurants.
Tenure
Freehold.
Location
Miles
19 miles south-east of Peterborough
21 miles north of Cambridge
Roads
A141, A142, A14, A1(M)
Air
London Stansted
Situation
Chatteris is an affluent and attractive market town in Cambridgeshire, about 21 miles north of Cambridge. Chatteris provides good access to the A1 (M) via A141. The property is located in a central town location on the east side of High Street, at a prominent location at its junction with Railway Lane and overlooking Jubilee Gardens town square. Nearby occupiers include Post Office, Nisa and various independent shops, cafés and restaurants.
Tenure
Freehold.
Description
The property comprises a prominent and substantial former supermarket/convenience store arranged on the ground and first floors. The property benefits from a large car park to the rear with parking for up to 30 cars together with a loading bay and a goods lift on a site area of approximately 0.37 acres (0.15 hectares).
VAT
VAT is applicable to this lot.
Planning
The Property may have change of use/development potential, subject to the lease and necessary consents.
For further information please contact Fenland District Council:
T: 01354 654 321
E: info@fenland.gov.uk
EPC
Band E. See legal pack at www.acuitus.co.uk.
Description
The property comprises a prominent and substantial former supermarket/convenience store arranged on the ground and first floors. The property benefits from a large car park to the rear with parking for up to 30 cars together with a loading bay and a goods lift on a site area of approximately 0.37 acres (0.15 hectares).
VAT
VAT is applicable to this lot.
Planning
The Property may have change of use/development potential, subject to the lease and necessary consents.
For further information please contact Fenland District Council:
T: 01354 654 321
E: info@fenland.gov.uk
EPC
Band E. See legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First
Retail/Ancillary Ancillary
335.00 sq m 296.30 sq m
(3,606 sq ft) (3,189 sq ft)
BOOKER RETAIL PARTNERS (GB) LIMITED (1)
28 years from 27/04/2009 until 31/03/2037 on a full repairing and insuring lease
£80,000
27/04/2019 (2) 27/04/2024 and 5 yearly thereafter
Total
631.30 sq m
(6,795 sq ft)
£80,000
(1) In March 2018, Tesco completed a £4.6 billion takeover of Booker. Booker Retail Partners is the wholesale retail supplier to retailers under the Budgens and Londis brands, serving over 2,000 stores across the UK. For the year ending 24th February 2019, Booker Retail Partners (GB) Limited reported a turnover of £915,600,000, pre-tax profits of £17,700,000 and shareholder funds of £138,600,000 (source: Smart Search 2204/2020). The tenant is not currently in occupation. (2) The April 2019 Rent Review is outstanding NB: Areas provided by VOA.
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.
