72 & 74 Marygate Berwick upon Tweed Northumberland TD15 1BN

72 & 74 Marygate
Berwick upon Tweed
Northumberland
TD15 1BN

Freehold Retail Investment

Let to New Look Retailers Ltd and Holland and Barrett Retail Ltd
Prime Position in Busy Market Town
Nearby occupiers include Boots the Chemist, Superdrug, H Samuel, O2 and Caffé Nero

Lot
4
Auction
22nd May 2014
Rent
£81,650 per Annum Exclusive
Status
Sold
Price
£800,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of Administrators

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Freehold Retail Investment

Let to New Look Retailers Ltd and Holland and Barrett Retail Ltd
Prime Position in Busy Market Town
Nearby occupiers include Boots the Chemist, Superdrug, H Samuel, O2 and Caffé Nero

Lot 4
Auction 22nd May 2014
Rent £81,650 per Annum Exclusive
Status Sold
Price £800,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of Administrators

Property Information

Location

Miles: 57 miles west of Edinburgh, 63 miles north of Newcastle-Upon-Tyne, 103 miles west of Glasgow
Roads: A1, A696
Rail: Berwick Upon Tweed Rail Station
Air: Newcastle Airport (64 miles), Edinburgh Airport (65 miles)

Situation

The property is prominently situated in the heart of Berwick upon Tweed on the northern side of Marygate, the town’s prime retail pitch. Nearby occupiers include Boots Chemist, Superdrug, H Samuel, O2, WH Smith and Caffé Nero.

Tenure

Freehold.

Location

Miles: 57 miles west of Edinburgh, 63 miles north of Newcastle-Upon-Tyne, 103 miles west of Glasgow
Roads: A1, A696
Rail: Berwick Upon Tweed Rail Station
Air: Newcastle Airport (64 miles), Edinburgh Airport (65 miles)

Situation

Tenure

Freehold.

Description

The property comprises two ground floor retail units. 72 Marygate also benefits from office/ancillary accommodation on the first floor.

Note
This property is being marketed for sale on behalf of 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

No.	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
72	Ground First	Retail Office/ Ancillary	187.94 sq m 66.43 sq m	(2,023 sq ft) (715 sq ft)	NEW LOOK RETAILERS LTD (1)	5 years from 24/06/2011 until 23/06/2016 on a full repairing and insuring lease	£41,650	23/06/2016
74	Ground	Retail	116.69 sq m	(1,256 sq ft)	HOLLAND AND BARRETT RETAIL LTD (2)	10 years from 04/06/2007 on a full repairing and insuring lease	£40,000	03/06/2017
	Totals		371.06 sq m	(3,994 sq ft)			£81,650

(1) For the year ending 30th March 2013, New Look Retailers Ltd reported a turnover of £1,248,464,000, pre-tax profits of £121,909,000 and a total net worth of £1,143,242,000. (Source: www.riskdisk.com 25/04/2014)
(2)For the year ending 30th September 2012, Holland & Barrett Retail Ltd reported a turnover of £335,286,000, pre-tax profits of £74,421,000 and a total net worth of £193,650,000. (Source: www.riskdisk.com 25/04/2014)