249-251 High Street Chatham Kent ME4 4JY

249-251 High Street
Chatham
Kent
ME4 4JY

Freehold Retail Investment on High Street Location

Entirely let to Ladbrokes Betting & Gaming Limited on a new 10 year lease until October 2021
Prime pedestrianised retail position
Situated opposite Debenhams with other nearby occupiers including Burger King, Evans, Santander and William Hill
Six Week Completion Period Available

Lot
6
Auction
8th December 2011
Rent
£55,000 per Annum Exclusive
Status
Sold
Price
£772,000
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Jemma McAndrew & Richard Stanley as Joint LPA Receivers

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Freehold Retail Investment on High Street Location

Entirely let to Ladbrokes Betting & Gaming Limited on a new 10 year lease until October 2021
Prime pedestrianised retail position
Situated opposite Debenhams with other nearby occupiers including Burger King, Evans, Santander and William Hill
Six Week Completion Period Available

Lot 6
Auction 8th December 2011
Rent £55,000 per Annum Exclusive
Status Sold
Price £772,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Jemma McAndrew & Richard Stanley as Joint LPA Receivers

Property Information

Location

Miles: 10 miles north of Maidstone, 29 miles north-east of Royal Tunbridge Wells, 36 miles south-east of Central London
Roads: A2, M2 (Junctions 2 and 3)
Rail: Chatham Railway Station (London St Pancras International)
Air: Gatwick Airport

Situation

The property is situated on the east side of High Street, Chatham's prime pedestrianised retail thoroughfare and benefits from its proximity to The Pentagon Shopping Centre, Debenhams and other national occupiers.

Tenure

Freehold.

Location

Miles: 10 miles north of Maidstone, 29 miles north-east of Royal Tunbridge Wells, 36 miles south-east of Central London
Roads: A2, M2 (Junctions 2 and 3)
Rail: Chatham Railway Station (London St Pancras International)
Air: Gatwick Airport

Situation

Tenure

Freehold.

Description

The property comprises a double fronted unit providing well-configured retail accommodation on the ground floor with ancillary accommodation on the first floor. Ladbrokes are currently fitting out the property and are due to begin trading on 7th December 2011.

Note
This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews/(Reversion)
Ground First	Retail Ancillary	176.57 sq m 110.59 sq m	(1,901 sq ft) (1,190 sq ft)	LADBROKES BETTING & GAMING LIMITED (1)	10 years from and including 28/10/2011 until 2021 on a full repairing and insuring lease	£55,000	28/10/2016 (27/10/2021)
Totals		287.16 sq m	(3,091 sq ft)			£55,000

(1) For the year ending 31st December 2010, Ladbrokes Betting & Gaming Limited reported a turnover of £683,635,000, pre-tax profits of £67,274,000 and a total net worth of £774,890,000. (Source: www.riskdisk.com 25/10/2011)