11A and 11B King Street and 11-13 Theatre Plain Great Yarmouth Norfolk NR30 2BA

11A and 11B King Street and 11-13 Theatre Plain
Great Yarmouth
Norfolk
NR30 2BA

Freehold Retail Investment

Entirely let to H Samuel Ltd on a 25 year lease until 2022
Nearby occupiers include Phones 4 U, Marks and Spencer, River Island, Superdrug, HSBC, BodyShop and a newly opened Costa Coffee
Active management and residential redevelopment potential of the upper parts (subject to consents)
Six Week Completion

Lot
10
Auction
13th February 2014
Rent
£115,000 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Important Update Interested?

Expand
Photos
Map

Freehold Retail Investment

Entirely let to H Samuel Ltd on a 25 year lease until 2022
Nearby occupiers include Phones 4 U, Marks and Spencer, River Island, Superdrug, HSBC, BodyShop and a newly opened Costa Coffee
Active management and residential redevelopment potential of the upper parts (subject to consents)
Six Week Completion

Lot 10
Auction 13th February 2014
Rent £115,000 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 19 miles east of Norwich, 10 miles north of Lowestoft, 134 miles north-east of London
Roads: A12, A47, A143
Rail: Great Yarmouth Rail Station 1 mile
Air: Norwich International Airport 23 miles

Situation

The property is situated on the east side of King Street in the heart of Great Yarmouth’s main shopping area and close to Market Place and the Market Gates Shopping Centre. It benefits from frontage to both King Street and Theatre Plain.

Tenure

Freehold.

Location

Miles: 19 miles east of Norwich, 10 miles north of Lowestoft, 134 miles north-east of London
Roads: A12, A47, A143
Rail: Great Yarmouth Rail Station 1 mile
Air: Norwich International Airport 23 miles

Situation

Tenure

Freehold.

Description

The property consists of a three storey retail property, with the largest retail unit fronting King Street and 2 further retail units fronting Theatre Plain. The majority of the upper floors are fitted as a Casino. The entire property is let to H Samuel Limited with Surety from Signet Group plc until 28/09/2022.

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
11A King Street 11B King Street 11-13 Theatre Plain	Retail Leisure Retail			H SAMUEL LTD with surety from Signet Group plc (1) (2)	25 years from 29/09/1997 until 28/09/2022	£115,000 payable in respect of the whole property	29/09/2017
Totals		1,020.34 sq m	(10,983 sq ft)			£115,000

1) For the year ending Feb 2013, H Samuel Ltd reported a turnover of £243,450,000, pre-tax profits of £9,902,000 and a total net worth of £90,232,000. (Source: www.riskdisk.com 13/01/2014) For the year ending Feb 2013, Signet Group Ltd reported pre-tax profits of £219,183,000 and a total net worth of £1,410,493,000. (Source: www.riskdisk.com 13/01/2014)
(2)The entire property is let to H Samuel Ltd until 28/09/2022 with H Samuel Ltd occupying the largest retail part at 11 A King Street. Other parts are sub-let to tenants including Gentings Casino who operate 45 casinos in the UK and are part of the worldwide Genting group of companies. Gentings are not in occupation. Full details of the sub-tenancies are available in the legal documentation.