Let to Iceland Foods Limited until June 2024 (no breaks)
Substantial High Street Unit in Busy and Historic Town
Adjacent to St Mary's Walk and close to The Quintins Shopping Centre
Nearby occupiers include Costa Coffee and NatWest Bank
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 18
Auction 25th May 2017
Rent £35,000 per Annum Exclusive
Status Sold
Price £652,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
8 miles north of Eastbourne, 13 miles east of Lewes, 20 miles north-east of Brighton
Roads
A22, A27, A26
Rail
Polegate Rail Station
Air
London Gatwick Airport
Situation
Hailsham is a busy and historic town located some 8 miles north of Eastbourne. The property is prominently situated on the southern side of the High Street, adjacent to the pedestrianised St Mary's Walk Shopping Precinct which leads directly from the High Street to the free shoppers car park on North Street. Other nearby occupiers on the High Street include NatWest Bank, Costa Coffee and The Quintins Shopping Centre, which is located less than 100 metres to the north.
Tenure
Freehold.
Location
Miles
8 miles north of Eastbourne, 13 miles east of Lewes, 20 miles north-east of Brighton
Roads
A22, A27, A26
Rail
Polegate Rail Station
Air
London Gatwick Airport
Situation
Hailsham is a busy and historic town located some 8 miles north of Eastbourne. The property is prominently situated on the southern side of the High Street, adjacent to the pedestrianised St Mary's Walk Shopping Precinct which leads directly from the High Street to the free shoppers car park on North Street. Other nearby occupiers on the High Street include NatWest Bank, Costa Coffee and The Quintins Shopping Centre, which is located less than 100 metres to the north.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit currently trading as a supermarket with ancillary accommodation on the first floor. The property benefits from a yard area to the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit currently trading as a supermarket with ancillary accommodation on the first floor. The property benefits from a yard area to the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Appox)
Tenant
Term
Rent p.a.x
Review
Ground First
Retail/Ancillary Ancillary
516.70 sq m 330.40 sq m
(5,562 sq ft) (3,556 sq ft)
ICELAND FOODS LIMITED (1)
10 years from 24/06/2014 until 24/06/2024
£35,000
24/06/2019
Total
847.10 sq m
(9,118 sq ft)
£35,000
(1) For the year ending 25th March 2016, Iceland Foods Limited reported a turnover of £2,658,332,000, pre-tax profits of £58,172,000 and a total net worth of £740,354,000 (Source: Experian Group 20/04/2017). Iceland Foods is one of Britain's fastest growing and most innovative retailers with over 880 stores throughout the UK (Source: about.iceland.co.uk 20/04/2017) .
Contacts
Seller's Solicitors
Russell Cooke Solicitors Bishops Palace House Kingston upon Thames Surrey KT1 1QN
