Harry Ramsden's, 11-12 Marine Parade Great Yarmouth Norfolk NR30 3AH

Harry Ramsden's, 11-12 Marine Parade
Great Yarmouth
Norfolk
NR30 3AH

Freehold Restaurant Investment with Long Lease

Prominent sea front position in prime leisure location
Substantial Property comprising some 761 sq m (8,192 sq ft)
Let to Deep Blue Restaurants Limited t/a Harry Ramsden's until 2038 (no breaks)
5 yearly RPI rent reviews, next due February 2023

Lot
27
Auction
28th October 2020
Rent
£45,735 per Annum Exclusive
Status
Withdrawn Prior
Price
Sector
Restaurant
Auction Venue
Live Streamed Auction

Important Update

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Freehold Restaurant Investment with Long Lease

Prominent sea front position in prime leisure location
Substantial Property comprising some 761 sq m (8,192 sq ft)
Let to Deep Blue Restaurants Limited t/a Harry Ramsden's until 2038 (no breaks)
5 yearly RPI rent reviews, next due February 2023

Lot 27
Auction 28th October 2020
Rent £45,735 per Annum Exclusive
Status Withdrawn Prior
Price
Sector
Restaurant
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 19 miles east of Norwich; 54 miles north of Ipswich; 74 miles north of Colchester
Roads: A12, A47, A143
Rail: Great Yarmouth
Air: Norwich International Airport

Situation

Great Yarmouth is a popular seaside town just 20 miles east of Norwich. The property occupies a prime spot on Marine promenade close to the Wellington Pier and The Sea Life Centre. Nearby occupiers include Sea Life Great Yarmouth, Hippodrome Circus and a large number of seaside restaurants and entertainment businesses.

Tenure

Freehold.

Location

Miles: 19 miles east of Norwich; 54 miles north of Ipswich; 74 miles north of Colchester
Roads: A12, A47, A143
Rail: Great Yarmouth
Air: Norwich International Airport

Situation

Tenure

Freehold.

Description

The property is a substantial four storey building comprising ground and first floor restaurant/ancillary accommodation, with basement, second and third floor ancillary accommodation.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

Band E. See legal pack.

Description

The property is a substantial four storey building comprising ground and first floor restaurant/ancillary accommodation, with basement, second and third floor ancillary accommodation.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

Band E. See legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Basement Ground First Second Third	Restaurant/Ancillary Restaurant/Ancillary Restaurant/Ancillary Ancillary Ancillary	136.20 sq m 271.24 sq m 210.53 sq m 120.46 sq m 22.64 sq m	(1,466.04 sq ft) (2,919.13 sq ft) (2,268.13 sq ft) (1,296.64 sq ft) (243.69 sq ft)	DEEP BLUE RESTAURANTS LIMITED (on assignment) t/a Harry Ramsden’s (1)	35 Years from 11/02/2003 until 10/02/2038	£45,753	2023 and 5 yearly linked to RPI
Total		761.09 sq m	(8,192.3 sq ft)			£45,753

(1) For the year ending 25th September 2018, Deep Blue Restaurants Limited reported a turnover of £11,649,226, pre-tax profit negative £177,838 and a shareholder's funds of £6,898,131 (Source: SmartSearch 16/09/2020). Deep Blue Restaurants Limited is the nations largest network of fish and chip restaurants and takeaways (www.deepbluerestaurants.com). Harry Ramsden's world famous fish and chips have traded in excess of 90 years and have over 30 outlets throughout the UK (www.harryramsdens.co.uk).

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.