Part let to shop trading as Boots Opticians/Hearingcare
Shop lease expires May 2028 (No breaks)
Upper Floors let to an International Centre of Professional Education on lease expiring October 2030 (No breaks)
Tenant in occupation for about 15 years
VAT-free investment
Popular Bristol suburb
Nearby occupiers include Waitrose, Iceland Supermarket, Lidl, Aldi, Homebase, Boots the Chemist, Costa and Greggs
Lot 2
Auction 9th May 2024
Rent £35,000 per Annum Exclusive
Status Available
Guide* £325,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
10 miles west of Bristol City Centre, 21 miles north-west of Bath
Roads
A369, M49, M5 (Junction 19)
Rail
Portway Train Station, Pill Train Station
Air
Bristol Airport
Situation
Portishead is the second largest town in Northern Somerset, located 10 miles west of Bristol City Centre. The property is prominently situated on the east side of High Street, the main retailing thoroughfare in the heart of the town centre. Nearby occupiers include Wairtose, Iceland Supermarket, Lidl, Aldi, Homebase, Boots the Chemist, Costa and Greggs
Tenure
Freehold.
Location
Miles
10 miles west of Bristol City Centre, 21 miles north-west of Bath
Roads
A369, M49, M5 (Junction 19)
Rail
Portway Train Station, Pill Train Station
Air
Bristol Airport
Situation
Portishead is the second largest town in Northern Somerset, located 10 miles west of Bristol City Centre. The property is prominently situated on the east side of High Street, the main retailing thoroughfare in the heart of the town centre. Nearby occupiers include Wairtose, Iceland Supermarket, Lidl, Aldi, Homebase, Boots the Chemist, Costa and Greggs
Tenure
Freehold.
Description
The property comprises an optician/hearing centre arranged on the ground floor, and a separately-accessed Education Centre on the first and second floors.
VAT
VAT is not applicable to this lot.
EPC
Band C
Description
The property comprises an optician/hearing centre arranged on the ground floor, and a separately-accessed Education Centre on the first and second floors.
VAT
VAT is not applicable to this lot.
EPC
Band C
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas (Approx sq ft) (1)
Tenant
Term
Rent p.a.x.
Rent Review
Ground
Retail/Ancillary
80.80
(869)
BOOTS OPTICIANS PROFESSIONAL SERVICES LIMITED (2) and PORTISHEAD EYECARE LIMITED (t/a Boots Opticians/Hearingcare)
10 years from 11/05/2018
£24,000
-
First Second
Education Centre
66.80 58.90
(719) (634)
D. COX and S. GORSHKOVA with personal guarantee (t/a Step Up International Centre of Professional Education) (3)
10 years from 19/10/2020
£11,000
19/10/2025
Total
206.50
(2,222)
£35,000
(1) Areas provided by VOA (www.tax.service.gov.uk/business-rates) (2) For the year ending 31/08/2022, Boots Opticians Professional Services Limited reported a turnover of £364,732,000, a pre-tax profit of £30,623,000 and a net worth of £89,101,000 (www.northrow.com) (3) Step Up has been operating from its own premises in Portishead since 2009 and currently supports close to 100 children, many of whom attend schools within Portishead. Step Up also has students from a much wider geographical area including Bristol, Clevedon, Nailsea and Weston Super Mare (www.stepup.education).
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.
