55-57 High Street March Cambridgeshire PE15 9JJ

55-57 High Street
March
Cambridgeshire
PE15 9JJ

  • 55-57 High Street<br>March<br>Cambridgeshire<br>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
    12/Jul/2022
  • Rent
    £131,019 per Annum Exclusive
  • Status
    Available
  • Price*
    £950,000
  • Sector
    Supermarket
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

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

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

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.

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

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.

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 £1,250+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
    21.06.22
    File Size
    57 MB
    Login to View
  • Brochure
    Updated Date
    24.06.22
    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
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Associate AuctioneersRob Senior 0203 130 6407 07764 810 218rsenior@hanovergreen.co.uk
Seller's Solicitors
Freeths LLP
Balvinder Jaj 01865781063balvinder.jaj@freeths.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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