Let to Sue Ryder on a renewed lease until 2025 (no breaks)
Prime pedestrianised location
July 2020 Tenant Break Option NOT exercised
Neighbouring occupiers include Co-Op Supermarket, Marie Curie, Iceland Foods and Betfred
Lot 2
Auction 16th June 2021
Rent £19,500 per Annum Exclusive
Status Sold
Price £202,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
8 miles north of Portsmouth
15 miles east of Southampton
Roads
A27, M27, A3(M)
Rail
Portchester Station
Air
Southampton Airport
Situation
The property is situared on the north side of West Street and is part of a prominent retail parade in a prime pedestrianised location in the centre of Portchester. Neighbouring occupiers include Co-Op Supermarket, Marie Curie, Iceland Foods, Betfred and Superdrug.
Tenure
Virtual Freehold. Held for a term of 999 years from June 1990 at a peppercorn rent.
Location
Miles
8 miles north of Portsmouth
15 miles east of Southampton
Roads
A27, M27, A3(M)
Rail
Portchester Station
Air
Southampton Airport
Situation
The property is situared on the north side of West Street and is part of a prominent retail parade in a prime pedestrianised location in the centre of Portchester. Neighbouring occupiers include Co-Op Supermarket, Marie Curie, Iceland Foods, Betfred and Superdrug.
Tenure
Virtual Freehold. Held for a term of 999 years from June 1990 at a peppercorn rent.
Description
The property comprises a ground floor retail accommodation which benefits from access to the rear via a service yard and rear Car Parking.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Description
The property comprises a ground floor retail accommodation which benefits from access to the rear via a service yard and rear Car Parking.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground
Retail
212.90 sq m
(2,291 sq ft)
SUE RYDER (1)
10 years from 06/07/2015
£19,500
05/07/2025
Total
212.90 sq m
(2,291 sq ft) (1)
£19,500
(1) The above floor areas have been published by the Valuation Office Agency at https://www.tax.service.gov.uk/business-rates-find/properties/112334175 (2) For the year ending 31st Mach 2020, Sue Ryder reported a turnover of £112,017,000, a pre-tax profit of £48,667,000 and shareholder funds of £53,822,000 (Source: NorthRow 19/05/2021). Sue Ryder has over 400 charity Shops across the UK (Source: www.sueryder.org).
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.
