Entirely Let to EE Ltd on a renewed 5 year lease (subject to option)
Tenant in occupation since 2007
Rebased Rent (previously £140,000 per annum)
Prime pedestrianised town centre location
Nearby occupiers include McDonalds, Tesco Express, Vodafone, Three, Nationwide, O2 and Lush
Lot 26
Auction 9th May 2024
Rent £55,000 per Annum Exclusive
Status Available
Guide* £500,000
Sector High Street Retail
Auction Venue Live Streamed Auction
On Behalf of Fixed Charge Receivers
Property Information
Location
Miles
19 miles north-east of Colchester, 54 miles south-east of Cambridge, 65 miles north-east of London
Roads
A12, A14
Rail
Ipswich Railway Station
Air
London Stansted Airport
Situation
Ipswich is the largest town in Suffolk with a population of over 300,000 and is a major commercial centre in East Anglia. The property is located in the heart of the town centre on the northern side of the busy and pedestrianised Tavern Street, close to its junction with Northgate Street and Sailmakers Shopping Centre. Nearby occupiers include McDonalds, Tesco Express, Vodafone, Three, Nationwide, O2 and Lush.
Tenure
Freehold.
Location
Miles
19 miles north-east of Colchester, 54 miles south-east of Cambridge, 65 miles north-east of London
Roads
A12, A14
Rail
Ipswich Railway Station
Air
London Stansted Airport
Situation
Ipswich is the largest town in Suffolk with a population of over 300,000 and is a major commercial centre in East Anglia. The property is located in the heart of the town centre on the northern side of the busy and pedestrianised Tavern Street, close to its junction with Northgate Street and Sailmakers Shopping Centre. Nearby occupiers include McDonalds, Tesco Express, Vodafone, Three, Nationwide, O2 and Lush.
Tenure
Freehold.
Description
The property comprises a ground floor shop, along with a basement accessed via a hatch.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Receivers and therefore no warranties, representations or guarantees are given or will be given by the Receivers or the Auctioneers in respect of the information in these particulars or any matter relating to the property, including VAT. Any information provided is provided without liability on the part of the Receivers and Auctioneers for any reliance placed on it. The Receivers are acting without personal liability and are not bound to accept the highest or any offer.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor shop, along with a basement accessed via a hatch.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Receivers and therefore no warranties, representations or guarantees are given or will be given by the Receivers or the Auctioneers in respect of the information in these particulars or any matter relating to the property, including VAT. Any information provided is provided without liability on the part of the Receivers and Auctioneers for any reliance placed on it. The Receivers are acting without personal liability and are not bound to accept the highest or any offer.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground Basement
Retail -
185.10 -
(1,992) -
EE LIMITED (1)
5 years from 04/12/2023 (2)
£55,000
Total
185.10
(1,992) (3)
£55,000
(1) For the year ending 31/03/2023 EE Limited reported a Turnover of £6,913,000,000, a Pre-Tax Profit of £1,771,000,000 and a Net Worth of £5,123,000,000 (NorthRow 19/02/2024). (2) The lease provides a tenant option to determine the lease on the 3rd anniversary of the term. The tenant will benefit from a 3 month rent free period if the break option is not exercised. (3) 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.
