Freehold Retail Investment
Freehold Retail Investment
The property is situated in a prime position on the north side of the busy pedestrianised High Street, adjacent to Marks & Spencer and Topshop and opposite Dorothy Perkins. Other nearby occupiers include Next, Primark, Bradford & Bingley and Clarks.
Freehold. Please note that the property has an element of flying freehold which runs over the adjoining passageway.
The property is situated in a prime position on the north side of the busy pedestrianised High Street, adjacent to Marks & Spencer and Topshop and opposite Dorothy Perkins. Other nearby occupiers include Next, Primark, Bradford & Bingley and Clarks.
Freehold. Please note that the property has an element of flying freehold which runs over the adjoining passageway.
The property comprises a GROUND FLOOR SALES AREA with ANCILLARY ACCOMMODATION on the first and second floors which have self-contained access off High Street. NB This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a GROUND FLOOR SALES AREA with ANCILLARY ACCOMMODATION on the first and second floors which have self-contained access off High Street. NB This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reversion | |
|---|---|---|---|---|---|---|---|
| Ground First Second |
Sales Ancillary Ancillary Ancillary (3) |
105.90 sq m 20.43 sq m 137.01 sq m 59.92 sq m |
(1,140 sq ft) (220 sq ft) (1,475 sq ft) (645 sq ft) |
STRAND CARDS LTD (t/a Clinton Cards) (1) |
25 years from 05/11/1985 on a full repairing and insuring lease |
£63,000 | 04/11/2010 (2) |
| Totals | 323.26 sq m |
(3,480 sq ft) |
£63,000 | ||||
(1)We understand that Clinton Cards (Essex) Ltd are currently paying the rent on behalf of Strand Cards Ltd. For the year ending 2nd August 2009,Clinton Cards (Essex) Ltd reported a turnover of 340,473,000, pre-tax profits of 13,335,000 and a total net worth of 10,508,000. The ultimate holding company of Clinton Cards (Essex) Ltd and Strand Cards Ltd is Clinton Cards plc. For the year ending 2nd August 2009, Clinton Cards plc reported a turnover of 345,200,000, pre-tax profits of 24,092,000 and a total net worth of 11,877,000. (Source: www.riskdisk.com 10/06/2010) (2)The tenant has expressed an interest in renewing the lease. For further details please refer to the Auctioneers. (3)The second floor was formerly used as a hairdressing salon.
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