55-57 High Street March Cambridgeshire PE15 9JJ

55-57 High Street
March
Cambridgeshire
PE15 9JJ

Freehold Supermarket Investment

Substantial Town Centre Supermarket with Self Contained Offices
Let to Cooperative Group Ltd and sublet to Iceland Foods Ltd (1)
Residential Development Potential of the Self Contained Offices (subject to consents)
Approximate Site Area of 0.1 Hectares (0.25 Acres)
Nearby Occupiers Include Costa Coffee, Sue Ryder, William H Brown Estate Agents, Subway and Lloyds Bank

Lot
20
Auction
12th July 2022
Rent
£131,019 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Freehold Supermarket Investment

Substantial Town Centre Supermarket with Self Contained Offices
Let to Cooperative Group Ltd and sublet to Iceland Foods Ltd (1)
Residential Development Potential of the Self Contained Offices (subject to consents)
Approximate Site Area of 0.1 Hectares (0.25 Acres)
Nearby Occupiers Include Costa Coffee, Sue Ryder, William H Brown Estate Agents, Subway and Lloyds Bank

Lot 20
Auction 12th July 2022
Rent £131,019 per Annum Exclusive
Status Sold Prior
Price
Sector
Supermarket/Convenience
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 17 miles east of Peterborough, 27 miles north of Cambridge
Roads: A141, A142
Rail: March Railway Station
Air: Cambridge Airport, London Stansted Airport

Situation

March is an attractive and historic market town. The property is prominently situated on the west side of High Street (B1101) at the junction with George Street. Nearby occupiers include Costa Coffee, Sue Ryder, William H Brown Estate Agents, Subway and Lloyds Bank.

Tenure

Freehold.

Location

Miles: 17 miles east of Peterborough, 27 miles north of Cambridge
Roads: A141, A142
Rail: March Railway Station
Air: Cambridge Airport, London Stansted Airport

Situation

Tenure

Freehold.

Description

The property, a substantial building comprising a ground floor supermarket with self contained office accommodation on the first floor. The ground floor and part first floor has been sublet to Iceland Foods Limited. The first floor self contained office is currently vacant and may be suitable for residential conversion (subject to consents). The first floor self contained office is accessed by a separate entrance at the side of the property. The site benefits from an approximate site area of 0.1 Hectares (0.25 Acres) and rear access to a public car park.

VAT

VAT is 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

VAT

VAT is 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 sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Reversion
Ground First First	Retail Ancillary Office	647.90 252.51 203.45	(6,974) (2,718) (2,190)	COOPERATIVE GROUP LIMITED (CRN IP00525R) Ground and Part First sublet to Iceland Foods Limited (CRN 11074000) (1)	A term of years expiring 17/01/2025	£131,019	17/01/2025
Total Approximate Floor Area		1,103.86	(11,882)			£131,019

(1) The tenant is Somerfield Stores Limited (CRNIP031114) guaranteed by Co-Operative Group Limited (CRN IP00525R) For the year ending 02/01/2021 Co-Operative Group Limited (IP00525R) reported a turnover of £11,472,000,000, a Pre-Tax Profit of £127,000,000 and a Net Worth of £1,564,000,000. (NorthRow). Iceland Foods Limited was established in 1970 and trade from over 1,000 locations.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.