Let to Srivens Limited on a Renewed Lease until 2027 (subject to option)
Busy Pedestrianised Town Centre Location
Affluent and Historic Market Town
Nearby occupiers include Pizza Express, Savers, Greggs, HSBC and Boots
Lot 4
Auction 17th February 2022
Rent £25,100 per Annum Exclusive
Status Sold
Price £406,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
26 miles north-west of Ipswich, 28 miles east of Cambridge
Roads
A11, A14, A134, A143, M11 (Junction 10)
Rail
Bury St Edmunds Railway Station
Air
Stansted Airport
Situation
Bury St Edmunds is an affluent and historic market town situated equidistant between Cambridge to the west and Ipswich to the south-east. The property is situated in the heart of the town centre on the southern side of the busy pedestrianised Abbeygate Street, the towns main retailing thoroughfare. Neighbouring occupiers include Pizza Express, Savers, Greggs, HSBC, Boots and many national and local retails and restaurants.
Tenure
Freehold.
Location
Miles
26 miles north-west of Ipswich, 28 miles east of Cambridge
Roads
A11, A14, A134, A143, M11 (Junction 10)
Rail
Bury St Edmunds Railway Station
Air
Stansted Airport
Situation
Bury St Edmunds is an affluent and historic market town situated equidistant between Cambridge to the west and Ipswich to the south-east. The property is situated in the heart of the town centre on the southern side of the busy pedestrianised Abbeygate Street, the towns main retailing thoroughfare. Neighbouring occupiers include Pizza Express, Savers, Greggs, HSBC, Boots and many national and local retails and restaurants.
Tenure
Freehold.
Description
The property, an attractive mid-terraced mixed use building comprises ground floor retail unit currently let to an opticians and a self contained residential maisonette on the upper three floors
VAT
VAT is not applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, an attractive mid-terraced mixed use building comprises ground floor retail unit currently let to an opticians and a self contained residential maisonette on the upper three floors
VAT
VAT is not applicable to this lot.
Completion Period
Six week completion
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.
Reversion
Ground
Retail/Ancillary
94.93 sq m
(1,021 sq ft)
SCRIVENS LIMITED (1)
5 years from January 2022 (2)
£25,000
January 2027
First Second Third
Residential
Not Measured
Individual
115 years from 29/09/2011
£100
(28/09/2126)
Total Approximate Floor Area
94.93 sq m
(1,021 sq ft)
£25,100
(1) Scrivens Limited (CRN00377588) were incorporated in 1942 and currently operate from over 170 outlets nationwide. (Source:https://scrivens.com/about-us/our-history/). For the year ending 25th October 2020 Scrivens Limited (CRN00377588) reported a turnover of £38,371,288, a pre-tax profit of £4,986,123 and a net worth of £5,607,156. (2) The lease provides for a tenant the option to determine the lease in January 2025 upon serving 6 months written notice. (3) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.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.
