262 High Street Bangor Clwyd LL57 1NY

262 High Street
Bangor
Clwyd
LL57 1NY

Retail Investment

Let to Trespass on a new 9 year lease (subject to option)
Prime position on pedestrianised High Street
Opposite to Menai and Deiniol Shopping Centres
Nearby occupiers include WH Smith, Greggs, HMV, Boots, Lloyds TSB, TopShop and Debenhams

Lot
50
Auction
6th December 2012
Rent
£25,000 per Annum Exclusive
Status
Sold
Price
£242,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of Mark Robert Fry and Nigel David Nutting of Begbies Traynor appointed as Joint Administrators of Catho Property Holdings (in Administration)

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Retail Investment

Let to Trespass on a new 9 year lease (subject to option)
Prime position on pedestrianised High Street
Opposite to Menai and Deiniol Shopping Centres
Nearby occupiers include WH Smith, Greggs, HMV, Boots, Lloyds TSB, TopShop and Debenhams

Lot 50
Auction 6th December 2012
Rent £25,000 per Annum Exclusive
Status Sold
Price £242,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of Mark Robert Fry and Nigel David Nutting of Begbies Traynor appointed as Joint Administrators of Catho Property Holdings (in Administration)

Property Information

Location

Miles: 9 miles north-east of Caernarfon, 20 miles south-west of Colwyn Bay, 60 miles west of Chester
Roads: A5, A55
Rail: Bangor Rail
Air: Liverpool John Lennon Airport

Situation

The property is situated in a prime position on the eastern side of the pedestrianised High Street. The Menai Shopping Centre, with occupiers such as River Island, Superdrug, H&M and Debenhams, is close by while opposite the property is the Deiniol Shopping Centre with occupiers such as H Samuel, Vodafone and Specsavers. Nearby occupiers include WH Smith, Greggs, HMV, Boots, Lloyds TSB, TopShop and Debenhams.

Tenure

Virtual Freehold. - Held for a term of 999 years.

Location

Miles: 9 miles north-east of Caernarfon, 20 miles south-west of Colwyn Bay, 60 miles west of Chester
Roads: A5, A55
Rail: Bangor Rail
Air: Liverpool John Lennon Airport

Situation

Tenure

Virtual Freehold. - Held for a term of 999 years.

Description

The property comprises retail accommodation on the ground floor with ancillary accommodation on the first and second floors.

NB
This property is being marketed on behalf of Mark Robert Fry and Nigel David Nutting of Begbies Traynor appointed as Joint Administrators of Cathco Property Holdings (in Administration) and therefore no warranties or guarantees in any respect, including VAT, can be given. The Joint Administrators are not bound to accept the highest or any offer and are acting as agents of the Company only and without personal liability.

VAT

VAT is applicable to this lot.

EPC

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

Description

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)		Tenant	Term	Rent p.a.x	Reversion
Ground First Second	Retail Ancillary Ancillary	148.64 sq m 196.49 sq m 95.69 sq m	(1,600 sq ft) (2,115 sq ft) (1,030 sq ft)	TRESPASS EUROPE LTD (1)	9 years from 29/08/2012 until 28/08/2021 (2)	£25,000 (3)	29/08/2021
Totals		440.82 sq m	(4,745 sq ft)			£25,000 (3)

(1) Trespass Europe Ltd operate from 85 branches nationwide. (www.trespass.co.uk)
(2)The Seller has an option to determine the lease at any time giving 3 months notice in writing, and has the right to market the property on the basis of a new lease. The tenant has an option to determine the lease at the 2nd, 4th, 6th and 8th years giving 6 months notice in writing.
(3)Under the terms of the lease, the tenant will pay an additional rent of 20% of any turnover in excess of £275,000 per annum. The tenant reported a turnover of approximately £299,000 in the 12 months to June 2012, therefore this would have equated to a passing rent of approximately£30,000 p.a.x. For turnover figures please see the Legal Pack.