55-61 Regent Street
Swindon
Wiltshire
SN1 1JS

High Yielding and Fully Let Freehold Retail Parade Investment

  • Substantial retail parade currently arranged as five well configured retail units
  • Tenants include Shoe Zone, New Look & Cornish Bakehouse
  • Comprises approximately 2,983.47 sq m (32,114 sq ft)
  • Modern building in prominent pedestrianised Town Centre location, close to Brunel Shopping Centre
  • Nearby retailers include Lush, Boots the Chemist, Waterstones, Sainsbury's, Primark, WHSmith, H. Samuel and Poundstretcher.
  • Lot
    7
  • Auction
    10/Dec/2020
  • Rent
    £214,369 per Annum Exclusive
  • Status
    Available
  • Price*
    £1,500,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • 55-61 Regent Street<br>Swindon<br>Wiltshire<br>SN1 1JS
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
29 miles south-west of Oxford
30 miles south-east of Cheltenham
Roads
A419, A420, M4
Rail
Swindon
Air
Bristol Airport
Situation

Swindon is located approximately 29 miles south-west of Oxford and 30 miles south-east of Cheltenham. The town is equidistant between Bristol and Reading along the M4 motorway and benefits from excellent road connections being less than 4 miles to J15 of the M4. The property is located on the south side of Regent Street, in a prominent pedestrianised position, a short walk to The Brunel Shopping Centre, with retailers including Lush, Boots the Chemist, Waterstones and Sainsbury's. Other retailers on Regent Street include Primark, WHSmith, H. Samuel and Poundstretcher. Granville Street car park is immediately behind the property.

Tenure

Freehold.

Description

The property comprises a substantial modern retail parade currently arranged as five well configured shops arranged over ground and first floors. The property benefits from a service yard to the rear.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion.

EPC

Various. Please see legal pack at www.acuitus.co.uk

Tenancy & Accommodation

 FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
55/61Ground
First
Retail/Ancillary
Retail/Ancillary
963.40 sq m
1,528.34 sq m
(10,370 sq ft)
(16,451 sq ft)
NEW LOOK
RETAILERS
LIMITED (1)
20 years from
02/03/2007 until
01/03/2027
6% turnover
rent (2)
-
58GroundRetail/Ancillary
75.07 sq m
(808 sq ft)
H. DALGA (t/a
Celly’s Hair Salon)
(3)
10 years from
16/05/2013 until
15/05/2023
£32,500-
59GroundRetail/Ancillary
98.48 sq m
(1,060 sq ft)
5 STAR BARBER
LIMITED (t/a
Barnet’s Barbers)
10 years from
02/10/2019 until
01/10/2029 (4)
£18,33302/10/2024
60GroundRetail/Ancillary
85.93 sq m
(925 sq ft)
CORNISH
BAKEHOUSE UK
LIMITED (5)
5 years from
11/03/2018 until
10/03/2023
£38,500-
61Ground
First
Retail/Ancillary
Ancillary
172.33 sq m
59.92 sq m
(1,855 sq ft)
(645 sq ft)
SHOE ZONE
RETAIL LIMITED
(6)
15 years from
14/03/2007 until
13/03/2022
£59,000-
Total
2,983.47 sq m
(32,114 sq ft)  £214,369 (7) 

(1) Founded in 1969, New Look now operates in over 800 stores around the world, the majority in the UK and the Republic of Ireland (www.newlookgroup.com 12/11/2020).
(2) New Look Retailers Limited filed for CVA in September 2020 and as a result it was agreed that they will pay a 6% turnover rent for this store on the equivalent monthly basis. Under the CVA the landlord and tenant are granted additional rights to terminate the lease. Please see legal pack for full details and a copy of the CVA agreement.
(3) Originally developed in Germany and rapidly expanding across the UK, Cellys are a chain of High Street hair salons offering a unique concept, now operating from 43 locations across the UK (www.cellys.co.uk 12/11/2020).
(4) The lease is subject to a tenant's option to determine on 02/10/2025.
(5) Cornish Bakehouse was established in 1983, and now operate from 13 stores across the UK (www.cornishkitchen.com 11/12/2020)
(6) Shoe Zone operate from around 470 stores across the UK and Ireland and employ approximately 3,500 people
(shoezone.com 12/11/2020)
(7) Includes estimated annualised rent paid by New Look, based on the agreed 6% turnover rent, assuming New Look continue to trade throughout the year at similar levels to that reported for the month ending 31st October 2020. For the month ending 31st October 2020 New Look reported a turnover of £91,717.68 at this store.

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
    30.11.20
    File Size
    64 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.20
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    20.11.20
    File Size
    928 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
    07.10.20
    File Size
    1,016 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
Dentons UK and Middle East LLP 1 George Square,
Glasgow
G2 1AL
Jo Campbell-Smith 0330 222 1682jo.campbell-smith@dentons.com

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