34 Fore Street Taunton Somerset TA1 1HR

  • 34 Fore Street<br>Taunton<br>Somerset<br>TA1 1HR

34 Fore Street
Taunton
Somerset
TA1 1HR

Freehold Retail Investment

  • To be entirely Let to Pretty by Nature Ltd, with guarantee from Eastgate Fashion Ltd
  • Agreement for lease signed 12th April 2024 for a new 10 year term (subject to options)
  • Prime position in town centre
  • Affluent Somerset Town
  • Nearby occupiers include Marks and Spencer, JD Sports, Waterstones, TK Maxx, River Island and Jack Wills
  • Lot
    27
  • Auction
    9th May 2024
  • Rent
    £40,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £320,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of a Major Investment Fund Manager
  • Expand
  • Photos
  • Map

Freehold Retail Investment

  • To be entirely Let to Pretty by Nature Ltd, with guarantee from Eastgate Fashion Ltd
  • Agreement for lease signed 12th April 2024 for a new 10 year term (subject to options)
  • Prime position in town centre
  • Affluent Somerset Town
  • Nearby occupiers include Marks and Spencer, JD Sports, Waterstones, TK Maxx, River Island and Jack Wills
  • Lot 27
  • Auction 9th May 2024
  • Rent £40,000 per Annum Exclusive
  • Status Sold
  • Price £320,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of a Major Investment Fund Manager

Property Information

Location
Miles
26 miles north-east of Exeter, 24 miles south of Weston-Super-Mare
Roads
A38, A3027, M5 (Junction 25)
Rail
Taunton Railway Station
Air
Exeter Airport
Situation

Taunton is a popular county town in Somerset. The property is situated within the town centre, occupying a prime position on Fore Street (A3027) at its junction with Hammet Street and North Street with a frontage onto the Parade monument. Nearby occupiers include Marks and Spencer, JD Sports, Waterstones, TK Maxx, River Island, Jack Wills and a range of national and local retailers.

Tenure

Freehold.

Location
Miles
26 miles north-east of Exeter, 24 miles south of Weston-Super-Mare
Roads
A38, A3027, M5 (Junction 25)
Rail
Taunton Railway Station
Air
Exeter Airport
Situation

Taunton is a popular county town in Somerset. The property is situated within the town centre, occupying a prime position on Fore Street (A3027) at its junction with Hammet Street and North Street with a frontage onto the Parade monument. Nearby occupiers include Marks and Spencer, JD Sports, Waterstones, TK Maxx, River Island, Jack Wills and a range of national and local retailers.

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation with first floor ancillary accommodation plus a rear yard.

There is future potential to extend the first floor (subject to necessary consents).

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

D

Description

The property comprises ground floor retail accommodation with first floor ancillary accommodation plus a rear yard.

There is future potential to extend the first floor (subject to necessary consents).

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

D

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x. Rent Review
Ground
First
Retail
Ancillary
197.02
45.65
(2,120)
(491)
PRETTY BY NATURE LTD
with a guarantee from Eastgate Fashion Ltd
t/a Made in Italy
(1)
Agreement for Lease signed as at 12 April 2024 for a term of 10 years (2)(3)(4)
£40,000
5th Anniversary of the term
Total  
242.67
(2,611)
(5)
   
£40,000
 

(1) Pretty by Nature Ltd is a south coast fashion retailer with stores in Chichester, Lymington, Dorchester, Weymouth and Bridport.
(2) An agreement for lease has been completed on 12/04/2024 with Pretty by Nature Ltd, with guarantee from Eastgate Fashion Ltd, which will trade under the Made in Italy branding. It is anticipated the lease will complete on the 15th May 2024 following completion of lessor repair works. The lease will be on FRI terms subject to a Schedule of Condition.
(3) The current rent reserved under the terms of the lease is £40,000 per annum exclusive, with a rent of £26,250 p.a.x. in the first two years of the lease reflecting 8 months rent free spread evenly across the first two years. The Seller will ‘top-up’ the rent from completion of the sale until the third anniversary of the term, therefore the property will effectively produce £40,000 p.a.x. from completion of the sale.
(4) The lease provides for a tenant option to determine the lease at the end of the 3rd year and after 5 and a half years.
(5) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.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.

Property Documents

  • Brochure
    Updated Date
    10.05.24
    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
Jon SkerryJon Skerry +44 (0)20 7034 4863 +44 (0)7736 300 594jon.skerry@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Seller's Solicitors
Trowers & Hamlins LLP The Senate, Southernhay Gardens
Exeter
EX1 1UG
Tom Craig +44 (0)1392 612480tcraig@trowers.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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