Shop Let to Aimes Limited (t/a Costa Coffee) Until 2033 (No Breaks)
Central Location in Attractive Market Town
Nearby Occupiers include Boots, Lidl, Specsavers, Santander and a Mix of Local Retailers
VAT-Free Investment
Lot 17
Auction 27th March 2024
Rent £32,100 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail/Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
15 miles north-east of Norwich, 8 miles south of Cromer
Roads
A149, B1145
Rail
North Walsham Rail Station
Situation
North Walsham is an attractive Market Town some 15 miles north-east of Norwich. The property is situated in the Town Centre on the north side of Market Place with nearby occupiers including Boots, Lidl, Specsavers, Santander and a mix of local retailers.
Tenure
Freehold.
Location
Miles
15 miles north-east of Norwich, 8 miles south of Cromer
Roads
A149, B1145
Rail
North Walsham Rail Station
Situation
North Walsham is an attractive Market Town some 15 miles north-east of Norwich. The property is situated in the Town Centre on the north side of Market Place with nearby occupiers including Boots, Lidl, Specsavers, Santander and a mix of local retailers.
Tenure
Freehold.
Description
The property is an attractive Grade II listed building that comprises a ground floor shop with ancillary accommodation in the basement and two self-contained one bedroom flats that are accessed via the rear of the property.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Retail unit = Band D. Flats = 2x Band E.
Description
The property is an attractive Grade II listed building that comprises a ground floor shop with ancillary accommodation in the basement and two self-contained one bedroom flats that are accessed via the rear of the property.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Retail unit = Band D. Flats = 2x Band E.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Rent Review (Reversion)
Ground Basement
Retail Ancillary
31.90 44.40
(343) (478)
AIMES LIMITED (t/a Costa Coffee)(CRN: 04261241) (2)
15 years from 17/11/2018
£15,000
17/11/2028 (16/11/2033)
35a
1 Bed Flat
-
(-)
INDIVIDUAL
Assured Shorthold Tenancy for 1 year from 04/03/2023
£8,100
(04/03/2024)
36a
1 Bed Flat
-
(-)
INDIVIDUAL
Assured Shorthold Tenancy for 1 year from 10/03/2023
£9,000
(04/03/2024)
Total Approximate Commercial Floor Area
76.30
(821)
£32,100
(1) The floor areas stated above are those published by the Valuation Office Agency (https://www.gov.uk/find-business-rates) (2) For the year ending 31st December 2022, Aimes Limited did not report a turnover or a pre-tax profit but reported a net worth of £2,509,046 (Northrow 04/03/2024). The Tenant forms part of the Scoffs Group Limited which is the largest franchised partner with Costa Coffee in the UK and currently trades from 101 stores nationwide (www.scoffs-group.co.uk).
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.
