Let to The Original Factory Shop Group Limited until 2025 (no breaks)
Prominent position with extensive frontage to the A12
Residential redevelopment potential (subject to consents)
Lot 35
Auction 23rd September 2020
Rent £115,863 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
45 miles north-east of Ipswich
Roads
A12
Rail
Darsham
Air
Norwich International Airport
Situation
Wrentham is an attractive village located near to the famous Suffolk coastal town of Southwold. The property occupies a prominent position on London Road (A12), which leads onto High Street approximately 100 metres to the north. The property is situated in a predominantly residential area with Meadowlands, a new residential development, located diagonally opposite the site.
Tenure
Freehold.
Location
Miles
45 miles north-east of Ipswich
Roads
A12
Rail
Darsham
Air
Norwich International Airport
Situation
Wrentham is an attractive village located near to the famous Suffolk coastal town of Southwold. The property occupies a prominent position on London Road (A12), which leads onto High Street approximately 100 metres to the north. The property is situated in a predominantly residential area with Meadowlands, a new residential development, located diagonally opposite the site.
Tenure
Freehold.
Description
The property comprises a substantial building with retail accommodation on ground and storage accommodation to the upper level. The property benefits from a site area of approximately 0.87 acres (0.354 hectares) and 33 marked car parking spaces, with capacity for more. The property may be suitable for future residential or care home redevelopment subject to consents.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C. See legal pack.
Description
The property comprises a substantial building with retail accommodation on ground and storage accommodation to the upper level. The property benefits from a site area of approximately 0.87 acres (0.354 hectares) and 33 marked car parking spaces, with capacity for more. The property may be suitable for future residential or care home redevelopment subject to consents.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground First
Retail/Ancillary Ancillary
1,122.55 sq m 627.65 sq m
(12,083 sq ft (6,756 sq ft)
THE ORIGINAL FACTORY SHOP GROUP LIMITED (CRN 02882042) (1)
25 years from 24/03/2000
£115,863
24/03/2025
Total
1,750.20 sq m
(18,839 sq ft)
£115,863
(1) For the year ending 31st March 2019, The Original Factory Shop Group Limited (formerly The Factory Shop Group Limited) (CRN 02882042) reported shareholder funds of £2,736,000 (Source: SmartSearch 02/09/2020). The Original Factory Shop operate 166 outlets nationwide. (www.tofts.com 02/09/2020).
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.