Florence Walk Bishops Stortford Hertfordshire CM23 2NZ

  • Florence Walk<br>Bishops Stortford<br>Hertfordshire<br>CM23 2NZ

Florence Walk
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 Cte Restaurant, Bills Restaurant, Lloyds Bank, HSBC and Carluccios
  • Lot
    18
  • Auction
    9th July 2020
  • Rent
    £138,250 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On behalf of a Major Fund Manager
Important Update
  • Expand
  • Photos
  • Map

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 Cte Restaurant, Bills Restaurant, Lloyds Bank, HSBC and Carluccios
  • Lot 18
  • Auction 9th July 2020
  • Rent £138,250 per Annum Exclusive
  • Status Sold Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On behalf of a Major Fund Manager

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.

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

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. Use Floor Areas (Approx) Tenant Term Rent p.a.x. Reviews/
Reversion
1 Retail
19.78 sq m
(213 sq ft)
INDIVIDUAL
t/a Guy & Joe’s
15 years from
12/10/2015 (1)
£13,000 12/10/2020
2 Retail
20.07 sq m
(216 sq ft)
KOAR BOUTIQUE
LIMITED
(not in occupation)
3 years from
21/06/2017
£8,500 (20/06/2020)
3 Retail
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)
4 Retail
45.62 sq m
(491 sq ft)
SHUKA LONDON
LIMITED with personal
guarantee
10 years from
29/09/2016 (3)
£12,850 20/09/2023
5 Retail
45.71 sq m
(492 sq ft)
INDIVIDUALS 10 years from
16/10/2018 (2)
£13,000 15/10/2023
6 Retail
45.89 sq m
(494 sq ft)
OLIVIA VAN DER
HORST LIMITED
3 years from
24/01/2020 (4)
£10,650 (23/01/2023)
7 Retail
59.10 sq m
(636 sq ft)
ST ELIZABETH’S
CENTRE
5 years from
18/12/2019
£13,750 (17/12/2024)
8 Retail
84.19 sq m
(906 sq ft)
INDIVIDUALS 5 years from
01/07/2020
£14,500 (5) (30/06/2025)
9/10       INDIVIDUALS 151 years from 28/04/1988 Peppercorn (27/04/2139)
11 Retail
26.85 sq m
(289 sq ft)
INDIVIDUAL
t/a Ripsher & Co Barbers
10 years from
06/11/2018 (6)
£9,500 06/11/2023
12 Retail
32.52 sq m
(350 sq ft)
INDIVIDUAL
t/a Blink Gift Shop
3 years from
11/04/2018
£10,400 (10/04/2021)
13/14 Retail
81.66 sq m
(879 sq ft)
INDIVIDUALS
t/a Caffe Inn
10 years from
31/01/2011
£21,000 (30/01/2021)
15 Retail
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
INDIVIDUAL 99 years from
29/09/1989
£100 (28/09/2088)
17  
Residential
INDIVIDUAL 125 years from
25/03/2002
£100 (24/03/2127)
18  
Residential
INDIVIDUAL 117 years 11 months
from 25/04/2008
£100 (24/03/2126)
19  
Residential
INDIVIDUAL 99 years from
29/09/1989
£100 (28/09/2088)
20  
Residential
INDIVIDUAL 189 years from
29/09/1989
£100 (28/09/2178)
21  
Residential
INDIVIDUAL 125 years from
25/03/2002
£100 (24/03/2127)
Total
520.02 sq m
(5,560 sq ft)
    £138,250 (5)  

(1) Tenant option to determine on 12th October 2020, exercised.
(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) The lease provides a tenant option to determine on 1st July 2023. 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 £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.

Property Documents

  • Catalogue Page
    Updated Date
    22.06.20
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    22.06.20
    File Size
    832 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Fladgate LLP 16 Great Queen Street
London
WC2B 5DG
Kathryn Davies 0203 036 7762kdavies@fladgate.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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