90-91 George Street Hove BN3 3YE

90-91 George Street
Hove
BN3 3YE

Freehold Retail Investment

Entirely let to AG Retail Cards Ltd (t/a Clinton Cards) until 2019
Prominent Town Centre Location
Situated on prime pedestrianised retailing thoroughfare
Nearby occupiers include W H Smith, Halifax Bank, Boots, Costa Coffee, BHS, Specsavers and Dorothy Perkins
Six Week Completion

Lot
8
Auction
17th October 2013
Rent
£60,000 per Annum Exclusive
Status
Sold
Price
£500,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
Mayfair
London W1K 2HP
On the Instructions of Administrators Zolfo Cooper

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Freehold Retail Investment

Entirely let to AG Retail Cards Ltd (t/a Clinton Cards) until 2019
Prominent Town Centre Location
Situated on prime pedestrianised retailing thoroughfare
Nearby occupiers include W H Smith, Halifax Bank, Boots, Costa Coffee, BHS, Specsavers and Dorothy Perkins
Six Week Completion

Lot 8
Auction 17th October 2013
Rent £60,000 per Annum Exclusive
Status Sold
Price £500,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
Mayfair
London W1K 2HP
On the Instructions of Administrators Zolfo Cooper

Property Information

Location

Miles: 11 miles east of Worthing, 55 miles south of London
Roads: A23, A27, A259
Rail: Hove Rail Station, Brighton Rail Station
Air: Shoreham Airport, London Gatwick Airport

Situation

The property is prominently situated on the western side of the pedestrianised George Street which is the town’s principal retailing thoroughfare. Nearby occupiers include Halifax Bank, Boots, W H Smith and Costa Coffee. The property is located approximately 10 minutes walk from the famous Brighton beach
and promenade.

Tenure

Freehold.

Location

Miles: 11 miles east of Worthing, 55 miles south of London
Roads: A23, A27, A259
Rail: Hove Rail Station, Brighton Rail Station
Air: Shoreham Airport, London Gatwick Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with first floor ancillary accommodation and rear loading access via Haddington Street.

Note
This property is being marketed for sale on behalf of CP Holder, KJ Coates and AC O’Keefe as Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Administrators to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Administrators are
not bound to accept the highest or any offer and are acting in respect of this sale 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.	Review
Ground First	Retail Ancillary	145.7 sq m 89.6 sq m	(1,568.3 sq ft) (964.45 sq ft)	AG RETAIL CARDS LIMITED t/a Clinton Cards (1)	30 years from 24/06/1989 until 24/06/2019 on a full repairing and insuring lease (2)	£60,000	24/06/2014 (2)
Totals		235.3 sq m	(2,532.75 sq ft)			£60,000 (2)

(1) Clinton Cards was founded in 1968 and is a leading retailer of greeting cards, gifts and wrapping paper. There are currently 397 stores around the UK as well as a transactional website. The company is managed by Schurman Retail Group who are currently undertaking a store transformation program throughout the UK (Source: www.clintoncards.co.uk 16/09/2013)
(2) The original lease is for a term of 25 years from 24th June 1989 until 23rd June 2014. The tenants have signed a new 5 year lease from 24th June 2014 at a rent of £50,000 p.a.x. The tenant will benefit from a concessionary rent of £25,000 p.a.x. for the first 12 months of the term from 24th June 2014 until 23rd June 2015.