73/75 High Street King's Lynn Norfolk PE30 1BB

73/75 High Street
King's Lynn
Norfolk
PE30 1BB

  • 73/75 High Street<br>King's Lynn<br>Norfolk<br>PE30 1BB

Substantial Freehold Retail Investment

  • 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
    12/Jul/2022
  • Rent
    £57,988 per Annum Exclusive
  • Status
    Available
  • Price*
    £525,000+
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

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

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.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion

EPC

See legal pack.

Tenancy & Accommodation

Address Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x.
73 High Street Ground
First
Retail/Ancillary
Ancillary
289.30
223.00
(3,114)
(2,400)
MONSOON STORES LIMITED (1)
(t/a Accessorize/Monsoon)
3 years from 03/07/2020
£20,487.74 (2)
75 High Street Ground
First
Retail/Ancillary
Ancillary
312.80
278.40
(3,367)
(2,997)
BONMARCHE PROPERTIES LIMITED (3)
(t/a Bonmarche)
5 years from 18/05/2021 (4)
£37,500
Total    
1,103.50
(11,878)
   
£57,987.74

(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.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    30.06.22
    File Size
    109 MB
    Login to View
  • Brochure
    Updated Date
    22.06.22
    File Size
    3 MB
    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
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Edward MartinEdward Martin +44 (0)20 7034 4854 +44 (0)7478 673 535edward.martin@acuitus.co.uk
Seller's Solicitors
Walker Morris 33 Wellington Street
Leeds
LS1 4DL
Hannah Levy +44 (0)113 283 2500hannah.levy@walkermorris.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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