Let to Monsoon Stores Limited (t/a Accessorize/Monsoon) and Bonmarche Properties Limited (t/a Bonmarche)
Approximately 11,878 sq ft plus rear site with Parking
Re-based rents
Nearby retailers include Marks and Spencer, Primark, Body Shop, Pandora, Boots the Chemist, JD Sports and Starbucks.
Lot 21
Auction 12th July 2022
Rent £57,988 per Annum Exclusive
Status Sold
Price £640,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
41 miles west of Norwich, 43 miles north-west of Cambridge
Roads
A10, A17, A47, A148
Rail
Kings Lynn
Air
Norwich Airport
Situation
The property is located in a prime trading location on the western side of the pedestrianised High Street opposite its junction with Norfolk Street. Nearby retailers include Marks and Spencer, Primark, Body Shop, Pandora, Boots the Chemist, JD Sports and Starbucks.
Tenure
Freehold.
Location
Miles
41 miles west of Norwich, 43 miles north-west of Cambridge
Roads
A10, A17, A47, A148
Rail
Kings Lynn
Air
Norwich Airport
Situation
The property is located in a prime trading location on the western side of the pedestrianised High Street opposite its junction with Norfolk Street. Nearby retailers include Marks and Spencer, Primark, Body Shop, Pandora, Boots the Chemist, JD Sports and Starbucks.
Tenure
Freehold.
Description
The property comprises two large well-proportioned shops each arranged on the ground and first floors. The property benefits from a large car park to the rear for about 20 cars.
VAT
VAT is applicable to this lot.
Completion Period
6 week completion
EPC
See legal pack.
Description
The property comprises two large well-proportioned shops each arranged on the ground and first floors. The property benefits from a large car park to the rear for about 20 cars.
(1) For the year ending December 2021, Monsoon Stores Limited reported a pre-tax profit of £3,257,000, a turnover of £26,461,000 and a shareholders funds of £3,132,000. (2) The tenant pays a turnover rent equivalent to 8% of the turnover of the store for the period between 1st September and 31st August each year. The rent payable by the tenant for the year after is based on 80% of that turnover figure. The turnover of the store from 1st September 2020 to 31st August 2021 was £320,120.86 The rent payable from September 2021 until the end of the turnover year will therefore be £20.487.74 per annum (3) www.bonmarche.co.uk (4) The least is subject to a tenant option to determine on 18/05/2024
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.
