Freehold Retail Investment in Prosperous Seaside Town
Let to W H Smith Retail Holdings Ltd on a new 10 year 3 month lease until 2022
Attractive well configured unit in Prime Town Centre location
Nearby occupiers include Tesco’s, Co-op and Lloyds Bank
Six Week Completion Period Available
Lot 8
Auction 23rd February 2012
Rent £60,195 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On Behalf of Gentian Partnerships
Property Information
Location
Miles
12 miles from Darsham, 32 miles south east of Norwich, 35 miles north east of Ipswich
Roads
A12, A146,
Rail
Darsham Rail, Ipswich Rail (direct to London Liverpoo; Street)
Air
Norwich Airport
Situation
The property occupies a prime position on the town main retail thoroughfare at the centre of Market Square and the start of East Street, leading to the sea front. The property benefits from nearby occupiers including Tesco's, Co-op and Lloyds Bank.
Tenure
Freehold.
Location
Miles
12 miles from Darsham, 32 miles south east of Norwich, 35 miles north east of Ipswich
Roads
A12, A146,
Rail
Darsham Rail, Ipswich Rail (direct to London Liverpoo; Street)
Air
Norwich Airport
Situation
The property occupies a prime position on the town main retail thoroughfare at the centre of Market Square and the start of East Street, leading to the sea front. The property benefits from nearby occupiers including Tesco's, Co-op and Lloyds Bank.
Tenure
Freehold.
Description
The property, a Grade II Listed building, comprises a double fronted retail unit on the ground floor, basement ancillary accommodation and self-contained residential accommodation over first and second floors, comprising 11 rooms, kitchen and two bathrooms. To the rear of the property is one car parking space.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a Grade II Listed building, comprises a double fronted retail unit on the ground floor, basement ancillary accommodation and self-contained residential accommodation over first and second floors, comprising 11 rooms, kitchen and two bathrooms. To the rear of the property is one car parking space.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground Ground Basement
Retail Ancillary Storage
142.50 sq m 7.53 sq m 79.15 sq m
(1,534 sq ft) (81 sq ft) (852 sq ft)
W H SMITH RETAIL HOLDINGS LTD
10 years and 3 months from 18/01/2012 until 17/04/2022
£60,000
17/01/2017
First Second
Residential
Not measured
Not measured
INDIVIDUAL
999 years from 21/09/2011
£195
21/09/2036 and every 25 years thereafter (2)
Totals
229.18 sq m
(2,467 sq ft)
£60,195
1) For the year ending 31/08/2011 W H Smith Retail Holdings Ltd reported a Turnover of £180,189,000, a Pre Tax Profit of £180,646,000 and a Total Net Worth of £442,012,000. Source www.riskdisk.co.uk (18/01/2012)
