New 10 year lease from May 2024 (subject to option)
Substantial Grade II listed building approx. 294.07 sq m (3,165 sq ft)
Prominent town location in historic market town
Nearby occupiers include Iceland, Superdrug, Morrisons Daily, Domino's and The Works
Lot 2
Auction 15th May 2025
Rent £23,500 per Annum Exclusive
Status Sold
Price £328,000
Sector High Street Retail
Auction Venue Live Streamed Auction
On Behalf of TT Group
Property Information
Location
Miles
13 miles south east of King's Lynn, 25 miles west of Norwich, 38 miles north east of Cambridge
Roads
A47, A1065,
Rail
King's Lynn Railway Station
Air
London Stanstead Airport, Norwich Airport
Situation
The property is located in the heart of Swaffham town centre, overlooking Swaffham War Memorial, at the junction of the A1065 and Lynn Street. Nearby occupiers include Iceland, Superdrug, Morrisons Daily, Domino's and The Works.
Tenure
Freehold.
Location
Miles
13 miles south east of King's Lynn, 25 miles west of Norwich, 38 miles north east of Cambridge
Roads
A47, A1065,
Rail
King's Lynn Railway Station
Air
London Stanstead Airport, Norwich Airport
Situation
The property is located in the heart of Swaffham town centre, overlooking Swaffham War Memorial, at the junction of the A1065 and Lynn Street. Nearby occupiers include Iceland, Superdrug, Morrisons Daily, Domino's and The Works.
Tenure
Freehold.
Description
The property comprises an attractive Grade II listed detached building providing retail and ancillary accommodation on both the ground and first floors.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an attractive Grade II listed detached building providing retail and ancillary accommodation on both the ground and first floors.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (3)
Floor Areas Approx sq ft (3)
Tenant
Term
Rent p.a.x.
Rent Review
Ground First
Retail/Ancillary Retail/Ancillary
138.43 155.64
(1,490) (1,675)
AIMES LIMITED t/a Costa (1)
10 years from 22/05/2024 (2)
£23,500
22/05/2029
Total
294.07
(3,165)
£23,500
(1) Aimes Limited is wholly owned by Scoffs Group UK, the largest franchised partner of Costa Coffee in the UK currently trading from 114 stores. Scoffs Group have recently arrounded a new partnership with Burger King UK and Itsu. (www.scoffs-group.co.uk). (2) The lease provides for a tenant option to determine on 22/05/2030. (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 £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
