173-185 High Street Dovercourt Harwich Essex CO12 3QB

  • 173-185 High Street<br>Dovercourt<br>Harwich<br>Essex<br>CO12 3QB

173-185 High Street
Dovercourt
Harwich
Essex
CO12 3QB

Freehold Retail and Residential Investment

  • Comprises three shops with four separately let flats above
  • Shop let to Scrivens Opticians along with two charity shops, both let in October 2023
  • Potential to let 173 High Street (currently let by way of a licence) on regular lease (3)
  • Includes 4 flats; one let on AST and Flat 1 let with valuable reversion in 2082
  • Opposite Iceland Supermarket and close to Asda Supermarket, Boots the Chemist, Superdrug and JD Wetherspoon
  • VAT-free Investment
  • Lot
    39
  • Auction
    2nd November 2023
  • Rent
    £25,250 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    High Street Retail/Residential
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

Freehold Retail and Residential Investment

  • Comprises three shops with four separately let flats above
  • Shop let to Scrivens Opticians along with two charity shops, both let in October 2023
  • Potential to let 173 High Street (currently let by way of a licence) on regular lease (3)
  • Includes 4 flats; one let on AST and Flat 1 let with valuable reversion in 2082
  • Opposite Iceland Supermarket and close to Asda Supermarket, Boots the Chemist, Superdrug and JD Wetherspoon
  • VAT-free Investment
  • Lot 39
  • Auction 2nd November 2023
  • Rent £25,250 per Annum Exclusive
  • Status Withdrawn Post
  • Price  
  • Sector
    High Street Retail/Residential
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
17 miles east of Colchester, 24 miles south-east of Ipswich, 40 miles north-east of Chelmsford
Roads
A12, A14, A120
Rail
Dovercourt Railway Station, Harwich Town Railway Station
Air
London Stansted Airport, London Southend Airport
Situation

The property is situated on the south side of High Street, in the heart of Dovercourt town centre. Nearby occupiers include Iceland Supermarket (opposite), Asda Supermarket, Boots the Chemist, Superdrug and JD Wetherspoon.

Tenure

Freehold.

Location
Miles
17 miles east of Colchester, 24 miles south-east of Ipswich, 40 miles north-east of Chelmsford
Roads
A12, A14, A120
Rail
Dovercourt Railway Station, Harwich Town Railway Station
Air
London Stansted Airport, London Southend Airport
Situation

The property is situated on the south side of High Street, in the heart of Dovercourt town centre. Nearby occupiers include Iceland Supermarket (opposite), Asda Supermarket, Boots the Chemist, Superdrug and JD Wetherspoon.

Tenure

Freehold.

Description

The property comprises three shops arranged on the ground floor and basement, with four separately accessed flats arranged on the first and second floors. The property benefits from car parking to the rear.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Description

The property comprises three shops arranged on the ground floor and basement, with four separately accessed flats arranged on the first and second floors. The property benefits from car parking to the rear.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Tenancy & Accommodation

Address Floor Use Floor Areas
Approx sq m (1)
Floor Areas
Approx sq ft (1)
Tenant Term Rent p.a.x.
173 High Street
(2 car parking spaces)
Ground
Basement
Retail/Ancillary
Ancillary
53.40
59.20
(575)
(637)
L. NICOLE (t/a North Essex Support) (2) 6 month licence from 01/10/2023 (3)
-
175 High Street
(1 car parking space)
Ground
Basement
Retail/Ancillary
Ancillary
53.40
59.20
(575)
(637)
SCRIVENS LIMITED (4) 10 years until 25/12/2016 (Holding Over)
£11,500
177 High Street
(1 car parking space)
Ground
Basement
Retail/Ancillary
Ancillary
36.66
41.80
(394)
(450)
ATERES YEHUDAH TRUST (5) 2 years from 01/10/2023
£5,200
179 High Street (Flat 4) First Residential flat
-
(-)
AN INDIVIDUAL 153 years from 04/05/2021
£50
181 High Street (Flat 3) First Residential flat
-
(-)
AN INDIVIDUAL 124 years from 18/03/2014
£50
183 High Street (Flat 1) Second Residential flat and Garage
-
(-)
AN INDIVIDUAL 99 years from 25/03/1983 (approximately 58 years unexpired)
£50
185 High Street (Flat 2) Second Residential - 2 bed flat
70.00
(753)
AN INDIVIDUAL Rolling periodic AST from April 2022 at £700 pcm
£8,400
Total    
373.66
(4,021)
   
£25,250

(1) Areas provided by VOA (www.gov.uk/find-business-rates)
(2) North Essex Support Trust is a registered charity, incorporated in 2006, that helps struggling families and individuals in the Essex community (www.nestassist.co.uk)
(3) The property is let by way of a 6 month licence from October 2023. The licence is subject to a landlord option to break on 01/01/2024. The vendor received an offer to rent the shop (dated 15/08/2023) from a luxury hair salon, Brown and White Limited, for a term of 5 years, with a tenant break after 18 months, at £8,400 p.a.x. Brown and White have recently re-confirmed their interest to lease the shop but want to wait until later this year before potentially proceeding. Brown & White Limited trade from 5 stores in locations such as Colchester and Chelmsford (www.brown-and-white.co.uk)
(4) For the year ending 30th October 2022, Scrivens Limited traded from over 150 branches in the UK, and reported a turnover of £47,834,646, a pre-tax profit of £4,152,319 and a net worth of £10,697,118 (www.northrow.com). Scrivens have previously indicated that they may wish to extend into the adjacent shop and negotiate a new lease.
(5) Ateres Yehudah Trust intend to take occupation shortly and will use the shop for storage purposes. They provide charitable donations for the relief of poverty and were incorporated in June 2000 (www.register-of-charities.charitycommission.gov.uk). For the year ending 31/03/2022, Ateres Yehudah Trust reported an income of £181,370 and net assets of £3,532,000.

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

  • Brochure
    Updated Date
    05.01.24
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    20.05.24
    File Size
    620 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
Henry JohnHenry John +44 (0)20 7034 4860 +44 (0)7876 884 320henry.john@acuitus.co.uk
Seller's Solicitors
Spire Solicitors LLP Holland Court, The Close
Norwich
NR1 4DY
Protima Sikdar-Wood 01603 677077psw@spiresolicitors.co.uk  Elle Hind 01060 3886282Elle.Hind@spiresolicitors.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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