Freehold Retail Investment
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.
Freehold.
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 is applicable to this lot.
Six Week Completion
Band C. See legal pack.
| 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 £1,000 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.
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