Adams House The High Harlow Essex CM20 1BD

Adams House
The High
Harlow
Essex
CM20 1BD

Freehold Retail Investment

Tenants include Yum III (UK) Ltd and Ganton House Investments Limited (t/a Ladbrokes)
Town centre location adjacent to bus station
Close proximity to the Harvey Shopping Centre and the pedestrianised Broad Walk
Neighbouring occupiers include Yates’s, NatWest, Primark, McDonald’s, W H Smith and Marks & Spencer
Six Week Completion

Lot
15
Auction
27th March 2014
Rent
£162,392 per Annum Exclusive
Status
Sold
Price
£1,250,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of a Major Bank

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Freehold Retail Investment

Tenants include Yum III (UK) Ltd and Ganton House Investments Limited (t/a Ladbrokes)
Town centre location adjacent to bus station
Close proximity to the Harvey Shopping Centre and the pedestrianised Broad Walk
Neighbouring occupiers include Yates’s, NatWest, Primark, McDonald’s, W H Smith and Marks & Spencer
Six Week Completion

Lot 15
Auction 27th March 2014
Rent £162,392 per Annum Exclusive
Status Sold
Price £1,250,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of a Major Bank

Property Information

Location

Miles: 25 miles north-east of Central London; 8 miles south-west of Bishop’s Stortford; 20 miles west of Chelmsford
Roads: A414, M11 (Junction 7), M25 (Junction 27), A10
Rail: Harlow Town Rail Station
Air: London Stansted Airport, London City Airport, London Luton

Situation

The property is situated on the north side of East Gate at its junction with Stone Cross, which is a busy market square. The property benefits from being immediately adjacent to Harlow’s main Bus Station and from its close proximity to the major Harvey Shopping Centre which has over one million square feet of retailing space in over 78 units and the pedestrianised street Broad Walk. Neighbouring occupiers include Yates’s, NatWest, Primark, McDonald’s, W H Smith and Marks & Spencer.

Tenure

Freehold.

Location

Miles: 25 miles north-east of Central London; 8 miles south-west of Bishop’s Stortford; 20 miles west of Chelmsford
Roads: A414, M11 (Junction 7), M25 (Junction 27), A10
Rail: Harlow Town Rail Station
Air: London Stansted Airport, London City Airport, London Luton

Situation

Tenure

Freehold.

Description

The property comprises a parade of 10 retail units on the ground floor with self-contained residential accommodation on the first floor.

VAT

VAT is applicable to this lot.

EPC

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

Description

The property comprises a parade of 10 retail units on the ground floor with self-contained residential accommodation on the first floor.

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
1	Ground	Retail	55.65 sq m	(599 sq ft)	MERIDIAN INVESTMENTS (UK) LIMITED (t/a Martin & Co Estate Agents)	10 years from 29/01/2010 until 2020 (1)	£15,000	29/01/2015
2	Ground	Retail	73.02 sq m	(786 sq ft)	MRS MINCHELLA (t/a Top-Flight Employment Agency)	20 years from 24/06/1997	£20,135	(23/06/2017)
3	Ground	Retail	71.72 sq m	(772 sq ft)	RUBINA AASTHAR & ALI SUFYAN (t/a Tasty Grill Express)	20 years from 24/06/1997	£19,450	(23/06/2017)
4	Ground	Retail	45.80 sq m	(493 sq ft)	DARMINDER SINGH MATHU (t/a Padda’s Newsagent)	20 years from 24/06/1997	£12,360	(23/06/2017)
5	Ground	Retail	79.34 sq m	(854 sq ft)	PREMIER INTERNATIONAL LEISURE LIMITED (t/a Instant Tanning Salon)	10 years from 01/11/2012 until 2022 (2)	£19,700	01/11/2017
6	Ground	Retail	37.53 sq m	(404 sq ft)	G SCRUDATO & F SPOTO (t/a Frank & Joe’s Hairdressing)	15 years from 03/02/2005 until 2020	£13,250	03/02/2015
7	Ground	Retail	69.86 sq m	(752 sq ft)	YUM III (UK) LIMITED guaranteed by Kentucky Fried Chicken (Great Britain) Limited (3)	20 years from 20/05/2005 until 2025 (4)	£18,500	20/05/2015
8	Ground	Retail	46.17 sq m	(497 sq ft)	MR G VATANSEVER (t/a The Sandwich Bar)	20 years from 24/06/1997	£13,000	(23/06/2017)
9	Ground	Retail	94.85 sq m	(1,021 sq ft)	GANTON HOUSE INVESTMENTS LIMITED (t/a Ladbrokes) (5)	20 years from 24/06/1998	£23,830	(23/06/2018)
9A	Ground	Retail	14.31 sq m	(154 sq ft)	PETER ROBERT CHARTER (t/a Only Gold)	10 years from 12/07/2013 until 2023	£6,000	12/07/2018
Bin Storage					HOPS PUB COMPANY LIMITED (6)	32 years from 16/09/2002 until 2034 (7)	£1,167	15/09/2017
Upper Parts		Residential	Not measured		EAST HOMES LIMITED ASSOCIATION	999 years from 12/08/2009	Peppercorn
Total Commercial Floor Area			588.25 sq m	(6,332 sq ft)			£162,392

(1) As to Unit 1, the lease provides for a tenant option to determine the lease on 29th January 2015.
(2) As to Unit 5, the lease provides for a tenant option to determine the lease on 1st November 2017.
(3) For the year ending 02/12/2012, Kentucky Fried Chicken (Great Britain) Limited reported a turnover of £423,345,000, pre-tax profits of £39,137,000 and a total net worth of £91,470,000. (Source: www.riskdisk.com 27/02/2014)
(4) As to Unit 7, the lease provides for a tenant option to determine the lease on 20th May 2015.
(5) For the year ending 31/12/2012, Ganton House Investments Limited reported a turnover of £12,031,406, pre-tax profits of £1,671,035 and a total net worth of £21,649,413. (Source: www.riskdisk.com 27/02/2014)
(6) For the year ending 30/09/2012, Hops Pub Company Limited reported a turnover of £78,177,000, pre-tax profits of £1,318,000 and a total net worth of £10,135,000. (Source: www.riskdisk.com 27/02/2014)
(7) As to the bin storage the lease provides for a landlord or tenant option to determine the lease every five years from 14th October 2002.