72/74 Marygate Berwick-upon-Tweed Northumberland TD15 1BN

  • 72/74 Marygate<br>Berwick-upon-Tweed<br>Northumberland<br>TD15 1BN

72/74 Marygate
Berwick-upon-Tweed
Northumberland
TD15 1BN

Freehold Retail Investment

  • Two shops let to Holland & Barrett and New Look
  • Shops let on renewed leases from June 2023 and September 2023
  • Holland & Barrett in occupation since June 2007 and New Look in occupation since 2011
  • Prime town centre location
  • Nearby occupiers include B&M, Boots the Chemist, Caffè Nero, Costa, Greggs, WHSmith and Sports Direct
  • Lot
    40
  • Auction
    9th May 2024
  • Rent
    £35,600 per Annum Exclusive
  • Status
    Sold Post
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • Expand
  • Photos
  • Map

Freehold Retail Investment

  • Two shops let to Holland & Barrett and New Look
  • Shops let on renewed leases from June 2023 and September 2023
  • Holland & Barrett in occupation since June 2007 and New Look in occupation since 2011
  • Prime town centre location
  • Nearby occupiers include B&M, Boots the Chemist, Caffè Nero, Costa, Greggs, WHSmith and Sports Direct
  • Lot 40
  • Auction 9th May 2024
  • Rent £35,600 per Annum Exclusive
  • Status Sold Post
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
63 miles north of Newcastle-Upon-Tyne
Roads
A1, A696, A1167, A6105
Rail
Berwick-Upon-Tweed Railway Station
Air
Newcastle International Airport
Situation

The property is prominently situated on the north side of Marygate, a prime retailing pitch, in the heart of the town centre. Nearby occupiers include B&M, Boots the Chemist, Caffè Nero, Costa, Greggs, WHSmith and Sports Direct.

Tenure

Freehold.

Location
Miles
63 miles north of Newcastle-Upon-Tyne
Roads
A1, A696, A1167, A6105
Rail
Berwick-Upon-Tweed Railway Station
Air
Newcastle International Airport
Situation

The property is prominently situated on the north side of Marygate, a prime retailing pitch, in the heart of the town centre. Nearby occupiers include B&M, Boots the Chemist, Caffè Nero, Costa, Greggs, WHSmith and Sports Direct.

Tenure

Freehold.

Description

The property comprises two adjoining shops arranged on the ground and first floors. The first floor provides ancillary accommodation and is accessed via an external ladder to the rear of the property.

VAT

VAT is applicable to this lot.

Note

Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises two adjoining shops arranged on the ground and first floors. The first floor provides ancillary accommodation and is accessed via an external ladder to the rear of the property.

VAT

VAT is applicable to this lot.

Note

Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Address Floor Use Floor Areas
Approx sq m
Floor Areas
(Approx sq ft)
Tenant Term Rent p.a.x.
72 (& part 74) Marygate Ground
First
Retail
Ancillary
187.94
66.43
(2,023)
(715)
NEW LOOK RETAILERS LIMITED (1) 5 years from 14/09/2023 (2)
£20,000
74 Marygate Ground Retail/Ancillary
116.69
(1,256)
HOLLAND & BARRETT RETAIL LIMITED (3) 3 years from 24/06/2023
£15,600
Total    
371.06
(3,994)
   
£35,600

(1) New Look Retailers Limited were incorporated in 1982 and now trade from over 364 stores across the UK (www.newlookgroup.com)
(2) The lease is subject to a tenant option to determine on 14/09/2026.
(3) For the year ending 30/09/2022, Holland & Barrett Retail Limited reported a turnover of £536,257,000, a pre-tax loss of £31,528,000 and a net worth of £246,602,000 (www.northrow.com).

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
    15.05.24
    File Size
    2 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
Structadene Group 9 White Lion Street
London
N1 9PD
James Thomson 0207 843 9196james.t@pearl-coutts.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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