30-36 Market Place
Romford
Essex
RM1 3ER

Freehold Retail Investment

  • Let to Argos Limited
  • Adjacent to the major Liberty Shopping Centre
  • Nearby occupiers include HSBC, Debenhams and Lloyds TSB
  • Six Week Completion Period Available
  • Reviewed to the Greater of Rent Payable or 84% of Annual Rack Rental value
  • Lot
    18
  • Auction
    08/Dec/2011
  • Rent
    £271,400 per Annum Exclusive
  • Status
    Sold Prior
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
Important Update
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
15 miles north-east of Central London,, 18 miles south-west of Chelmsford
Roads
M25, M11, A12
Rail
Romford Rail, Gidea Park Rail
Air
London City Airport, Stansted Airport, Luton Airport, , Gatwick Airport and Heathrow Airport
Situation

The London commuter town of Romford is a major commercial, retail and leisure location with excellent communication links. The property is prominently situated on the east side of Market Place close to the junction with South Street, Romford's principal retail thoroughfare. The property benefits from its strategic adjacent to the Liberty Shopping Centre. Neighbouring occupiers include Marks & Spencers, Primark, Top Shop, HSBC, Debenhams and Lloyds TSB.

Tenure

Freehold.

Description

The property comprises a substantial retail unit comprising retail and ancillary accommodation on the ground floor and extensive ancillary accommodation on both the first and second floors. The property benefits from a goods lift.

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

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
Ground
First
Second

Retail
Ancillary
Ancillary
1,873.48 sq m
1,359.63 sq m
163.13 sq m
(20,166 sq ft)
(14,635 sq ft)
(1,756 sq ft)
ARGOS LIMITED
(2)
35 years from 29/09/1981 £271,40029/09/2011 (3)
Totals 

3,396.24 sq m

36,557 sq ft
  £271,400 

(1) Floor areas agreed at a previous rent review.
(2) For the year ending 27th February 2010, Argos Limited reported a turnover of £4,164,475,000, pre-tax profits of £227,851,000 and a total net worth of £1,130,407,000. (Source: www.riskdisk.com 10/11/2011)
(3) The rent is reviewed to the greater of the rent payable prior to the review date or 84% of the annual rack rental value of the premises at the commencement of the new review period.

Property Documents

  • Catalogue Page
    Updated Date
    23.09.15
    File Size
    353 KB
    View PDF
  • Site Plan
    Updated Date
    23.09.15
    File Size
    148 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Peter CunliffePeter Cunliffe +44 (0)20 7034 4850peter.cunliffe@acuitus.co.uk

Useful Links

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