Unit 2, 2 Mill Lane Bradwell Gorleston Great Yarmouth Norfolk NR31 8HL

Unit 2, 2 Mill Lane
Bradwell Gorleston
Great Yarmouth
Norfolk
NR31 8HL

Freehold Retail Investment

Let to Coral Racing Limited on a 16 year lease until 2027 (no breaks)
Minimum rental increases to the greater of 2.5% per annum compounded or open market value
Six Week Completion
Rent rising to £6,415 p.a.x. in 2016

Lot
59
Auction
11th July 2013
Rent
£5,600 per Annum Exclusive
Status
Sold
Price
£81,000
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Retail Investment

Let to Coral Racing Limited on a 16 year lease until 2027 (no breaks)
Minimum rental increases to the greater of 2.5% per annum compounded or open market value
Six Week Completion
Rent rising to £6,415 p.a.x. in 2016

Lot 59
Auction 11th July 2013
Rent £5,600 per Annum Exclusive
Status Sold
Price £81,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 11 miles north of Lowestoft, 22 miles east of Norwich
Roads: A143, A12, A47
Rail: Great Yarmouth Railway Station
Air: Norwich International Airport, Stansted Airport

Situation

Bradwell is a popular residential suburb of Great Yarmouth. The property is situated on the eastern side of Mill Lane adjacent to its junction with the busy Beccles Road (A143).

Tenure

Freehold.

Location

Miles: 11 miles north of Lowestoft, 22 miles east of Norwich
Roads: A143, A12, A47
Rail: Great Yarmouth Railway Station
Air: Norwich International Airport, Stansted Airport

Situation

Bradwell is a popular residential suburb of Great Yarmouth. The property is situated on the eastern side of Mill Lane adjacent to its junction with the busy Beccles Road (A143).

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation with car parking.

VAT

VAT is not applicable to this lot.

EPC

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

Description

The property comprises ground floor retail accommodation with car parking.

VAT

VAT is not 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	Review
Ground	Retail	50.20 sq m	(540 sq ft)	CORAL RACING LIMITED (1)	16 years from 03/02/2011 until 2027 on a full repairing and insuring lease (2)	£5,600 rising to a minimum of £6,415 p.a.x in 2016 (2)	29/09/2016 (2) 29/09/2021
Totals		50.20 sq m	(540 sq ft)			£5,600

(1) Coral Racing Limited is part of the Gala Coral Group and together with their online presence, trade from over 1,700 outlets across the UK. Gala Coral is the third largest bookmaking business in the UK with a market share of approximately 20%. (Source www.coral.co.uk).
(2) The lease provides for the rent to be reviewed to the greater of open market rental value or an increase by 2.5% p.a. compounded. Therefore the rent will increase to a minimum of £6,335.88 in 2016.
(3) The floor areas stated above are those published by the Valuation Office Agency. www.voa.gov.uk