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
    09/Jul/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 Auction & Property Update
  • Florence Walk<br>Bishops Stortford<br>Hertfordshire<br>CM23 2NZ
  • Expand
  • 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)
£12,85020/09/2023
5Retail
45.71 sq m
(492 sq ft)
INDIVIDUALS10 years from
16/10/2018 (2)
£13,00015/10/2023
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
59.10 sq m
(636 sq ft)
ST ELIZABETH’S
CENTRE
5 years from
18/12/2019
£13,750(17/12/2024)
8Retail
84.19 sq m
(906 sq ft)
INDIVIDUALS5 years from
01/07/2020
£14,500 (5) (30/06/2025)
9/10   INDIVIDUALS151 years from 28/04/1988 Peppercorn(27/04/2139)
11Retail
26.85 sq m
(289 sq ft)
INDIVIDUAL
t/a Ripsher & Co Barbers
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
INDIVIDUAL189 years from
29/09/1989
£100(28/09/2178)
21 
Residential
INDIVIDUAL125 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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    25.06.20
    File Size
    82 MB
    Login to View
  • 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
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    20.05.20
    File Size
    694 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 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
Kathryn Davies 0203 036 7762kdavies@fladgate.com

Useful Links

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