Marks & Spencer Simply Foods 36 Monday Market Street Devizes Wiltshire SN10 1DW

Marks & Spencer Simply Foods
36 Monday Market Street
Devizes
Wiltshire
SN10 1DW

Freehold Supermarket Investment

Entirely let to Marks & Spencer Simply Foods Limited (guaranteed by Marks &
Spencer plc) until 2030 (subject to option)
Minimum fixed rental uplift
Prominent corner position in affluent and historic market town
Nearby occupiers include Tesco Metro, Boots, Costa Coffee and Halifax Bank
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
11
Auction
9th July 2015
Rent
£72,500 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Supermarket Investment

Entirely let to Marks & Spencer Simply Foods Limited (guaranteed by Marks &
Spencer plc) until 2030 (subject to option)
Minimum fixed rental uplift
Prominent corner position in affluent and historic market town
Nearby occupiers include Tesco Metro, Boots, Costa Coffee and Halifax Bank
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 11
Auction 9th July 2015
Rent £72,500 per Annum Exclusive
Status Sold Post
Price
Sector
Supermarket/Convenience
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 19 miles south of Swindon, 21 miles east of Bath, 36 miles east of Bristol
Roads: A360, A361, M4 (Junction 17)
Rail: Devizes Rail Station
Air: Bristol Airport

Situation

Devizes is an affluent and historic market town approximately 21 miles east of Bath. The property is situated in a highly prominent corner location in the town centre on the northern side of Monday Market Street near its junction with The Brittox, New Park Street (A361) and Maryport Street. The property adjoins the Towns Market Place Car Park to the rear and is in close proximity to the larger Central Car Park. Nearby occupiers include Tesco Metro, Boots, Costa, Halifax Bank, Wilkinson and Thomas Cook.

Tenure

Freehold.

Location

Miles: 19 miles south of Swindon, 21 miles east of Bath, 36 miles east of Bristol
Roads: A360, A361, M4 (Junction 17)
Rail: Devizes Rail Station
Air: Bristol Airport

Situation

Tenure

Freehold.

Description

The property comprises retail and ancillary accommodation over the ground
and first floors with two residential flats on the second floor.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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/(Reversion)
Ground First	Retail/Ancillary Ancillary	538.00 sq m 459.20 sq m	(5,791 sq ft) (4,942 sq ft)	MARKS & SPENCER SIMPLY FOODS LIMITED (Guaranteed by Marks and Spencer plc) (1)	25 years from 28/02/2005 until 27/02/2030 on a full repairing and insuring lease (2)	£72,500	28/02/2020 and five yearly thereafter to a minimum 2.5% compound rental uplift (3)
Second	Residential Flat 1	Not Measured		INDIVIDUAL	99 years from 29/09/1985	Peppercorn	(28/09/2084)
Second	Residential Flat 2	Not Measured		INDIVIDUAL	99 years from 29/09/1985	Peppercorn	(28/09/2084)
Totals Commercial Only		997.20 sq m	(10,733 sq ft)			£72,500

(1) For the year ending 29th March 2014, Marks & Spencer Simply Foods Limited reported a turnover of £653,471,000, pre-tax profits of £75,101,000 and a total net worth of £221,776,000. (Source: www.riskdisk.com 08/06/2015)
For the year ending 29/03/2014, Marks and Spencer plc reported a turnover of £10,309,700,000, pre-tax profits of £580,400,000 and a total net worth of
£4,383,400,000. (Source: www.riskdisk.com 08/06/2015)
(2)The lease provides a tenant option to determine on the twentieth anniversary of the term.
(3)The rent is reviewed to the higher of 2.5% compounded annually or Open Market Rental Value. The rent will therefore rise to a minimum of £74,820 p.a.x. in 2020 and £84,653 p.a.x. in 2025.