Freehold Retail Investment with Possible Future Development Potential
Let to Hays Travel Limited
Lease expires February 2030 (subject to option)
Development potential of upper parts (subject to lease & consents)
Prominent town centre location close to Wellington Place and Havelock Road
Close proximity to The Priory Meadow Shopping Centre with retailers including Primark, H&M and Boots the Chemist and several national retailers nearby such as Costa Coffee, KFC, Caffé Nero and Greggs
Freehold Retail Investment with Possible Future Development Potential
Let to Hays Travel Limited
Lease expires February 2030 (subject to option)
Development potential of upper parts (subject to lease & consents)
Prominent town centre location close to Wellington Place and Havelock Road
Close proximity to The Priory Meadow Shopping Centre with retailers including Primark, H&M and Boots the Chemist and several national retailers nearby such as Costa Coffee, KFC, Caffé Nero and Greggs
Lot 29
Auction 31st March 2022
Rent £60,000 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
28 miles south-east of Royal Tunbridge Wells, 70 miles south-east of Central London
Roads
A259, A21, A27
Rail
Hastings
Air
London Gatwick Airport
Situation
Hastings is an historic town and popular holiday destination in East Sussex. The property is prominently located in a pedestrianised area of the town, on the west side of Queens Road. Hastings Rail Station is only 400 metres from the property and provides services to three London mainline stations (Victoria, Charing Cross and Cannon Street) with a fastest journey time of 1 hour 28 minutes.
Nearby occupiers include Costa Coffee, KFC, Caffé Nero and Greggs.In addition the Priory Meadow Shopping Centre is 60 metres from the property with retailers represented including Primark, Superdrug, Boots the Chemist and H&M
Tenure
Freehold.
Location
Miles
28 miles south-east of Royal Tunbridge Wells, 70 miles south-east of Central London
Roads
A259, A21, A27
Rail
Hastings
Air
London Gatwick Airport
Situation
Hastings is an historic town and popular holiday destination in East Sussex. The property is prominently located in a pedestrianised area of the town, on the west side of Queens Road. Hastings Rail Station is only 400 metres from the property and provides services to three London mainline stations (Victoria, Charing Cross and Cannon Street) with a fastest journey time of 1 hour 28 minutes.
Nearby occupiers include Costa Coffee, KFC, Caffé Nero and Greggs.In addition the Priory Meadow Shopping Centre is 60 metres from the property with retailers represented including Primark, Superdrug, Boots the Chemist and H&M
Tenure
Freehold.
Description
The property comprises a shop arranged on the ground, first and second floors.
There is development potential of the upper parts (subject to lease and consents). The property benefits from rear access from Station Road from which separate access to a future residential conversion could be made.
VAT
VAT is applicable to this lot.
Completion Period
6 Week Completion
EPC
Band D.
Description
The property comprises a shop arranged on the ground, first and second floors.
There is development potential of the upper parts (subject to lease and consents). The property benefits from rear access from Station Road from which separate access to a future residential conversion could be made.
VAT
VAT is applicable to this lot.
Completion Period
6 Week Completion
EPC
Band D.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx sq m)
Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
Rent Review
Ground First Second
Retail/Ancillary Ancillary Ancillary
128.50 sq m 122.50 sq m 63.00 sq m
(1,383 sq ft) (1,319 sq ft) (678 sq ft)
HAYS TRAVEL LIMITED (1)
10 years from 28/02/2020 (2) on a full repairing and insuring lease (3)
£60,000
27/02/2025
Total
314.00 sq m
(3,380 sq ft)
£60,000
(1) Hays Travel is the UK's largest independent travel agent and in 2019 took a strong lead in the industry by acquiring the Thomas Cook retail estate. (www.haystravel.co.uk) (2) The lease is subject to a tenant option to determine on 28/02/2025 (3) The lease is full repairing and insuring, subject to schedule of condition.
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.
