Let to Tesco Stores Limited on lease extended from original term
Prominently situated on main shopping town centre thoroughfare
Currently let at £5.75 per sq ft with next review in September 2015
Nearby occupiers include BHS, Sports Direct, Bonmarché and Clarks Shoes
Lot 31
Auction 23rd October 2014
Rent £220,000 per Annum Exclusive
Status Sold
Price £1,750,000
Sector Supermarket/Convenience
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
25 miles south-east of Norwich
10 miles south of Great Yarmouth
Roads
A12, A47, A11, M11
Rail
Lowestoft Railway Station (approx.2 hrs 45 mins to London Liverpool Street)
Air
Norwich International Airport
Situation
The property is situated on the main retail thoroughfare in the town centre close to the junction with Gordon Road and its two NCP car parks. Nearby occupiers include BHS, Sports Direct, Bonmarché and Clarks Shoes. To the front of the property there are two bus stops and partial pedestrianisation of the street.
Tenure
Freehold.
Location
Miles
25 miles south-east of Norwich
10 miles south of Great Yarmouth
Roads
A12, A47, A11, M11
Rail
Lowestoft Railway Station (approx.2 hrs 45 mins to London Liverpool Street)
Air
Norwich International Airport
Situation
The property is situated on the main retail thoroughfare in the town centre close to the junction with Gordon Road and its two NCP car parks. Nearby occupiers include BHS, Sports Direct, Bonmarché and Clarks Shoes. To the front of the property there are two bus stops and partial pedestrianisation of the street.
Tenure
Freehold.
Description
The property comprises a ground floor supermarket with first floor storage and
ancillary accommodation. A small mezzanine floor comprises office and storage accommodation while the second floor provides offices and plant rooms. The property benefits from rear loading and servicing with access off Regent Road.
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 ground floor supermarket with first floor storage and
ancillary accommodation. A small mezzanine floor comprises office and storage accommodation while the second floor provides offices and plant rooms. The property benefits from rear loading and servicing with access off Regent Road.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
35 years from 29/09/1980 extended until 28/09/2019 on a full repairing and insuring lease
£220,000
29/09/2015 (29/09/2019)
Totals
3,551.6 sq m
(38,240 sq ft)
£220,000
(1) For the year ending 23rd February 2013, Tesco Stores Limited reported a turnover of £42,662,000,000, pre-tax profits of £921,000,000 and a total net worth of £3,113,000,000. (Source: www.riskdisk.com 26th September 2014)
