Comprises an attractive parade of three retail units
Let to tenants trading as Superdrug, Milletts and Cardzone
Prime pedestrianised retail location
Nearby occupiers include Costa, Greggs, Boots the Chemist and JD Wetherspoon
Prosperous and attractive Gloucestershire market town
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 19
Auction 7th July 2016
Rent £99,750 per Annum Exclusive
Status Sold
Price £1,300,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
On behalf of Receivers Moorfields
Property Information
Location
Miles
9 miles south of Gloucester, 32 miles north-east of Bristol
Roads
A417, A419, M5 (Junction 13)
Rail
Stroud Railway Station
Air
Bristol Airport
Situation
The property is situated in a highly prominent position on the northern side of the pedestrianised High Street, close to its junction with Kendrick Street, in an excellent trading location. Nearby occupiers include Costa, Greggs, Boots the Chemist, JD Wetherspoon, Lloyds, NatWest and HSBC banks.
Tenure
Freehold.
Location
Miles
9 miles south of Gloucester, 32 miles north-east of Bristol
Roads
A417, A419, M5 (Junction 13)
Rail
Stroud Railway Station
Air
Bristol Airport
Situation
The property is situated in a highly prominent position on the northern side of the pedestrianised High Street, close to its junction with Kendrick Street, in an excellent trading location. Nearby occupiers include Costa, Greggs, Boots the Chemist, JD Wetherspoon, Lloyds, NatWest and HSBC banks.
Tenure
Freehold.
Description
The property comprises an attractive unbroken parade of three retails units, providing ground floor retail and first floor ancillary accommodation. The second floors of each unit are accessed by a ladder and loft hatch only. The second floor of Unit 59 is not demised to Blacks Outdoor Retail Limited.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an attractive unbroken parade of three retails units, providing ground floor retail and first floor ancillary accommodation. The second floors of each unit are accessed by a ladder and loft hatch only. The second floor of Unit 59 is not demised to Blacks Outdoor Retail Limited.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
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
Reviews/(Reversion)
58
Ground First Second
Retail/Ancillary Ancillary Ancillary
102.63 sq m 29.29 sq m Not measured
(1,105 sq ft) (315 sq ft) (Restricted access)
SPECIAL OCCASIONS (GREETINGS) LIMITED t/a CARDZONE
5 years from 18/07/2013
£20,000
(17/07/2018)
59
Ground First
Retail/Ancillary Ancillary
148.20 sq m 39.02 sq m
(1,595 sq ft) (420 sq ft)
BLACKS OUTDOOR RETAIL LIMITED (1) t/a MILLETS
10 years from 03/10/2014 (2)
£30,000
03/10/2019 (02/10/2024)
60-61
Ground First Second
Retail/Ancillary Ancillary Ancillary
266.55 sq m 82.26 sq m Not measured
(2,869 sq ft) (885 sq ft) (Restricted access)
SUPERDRUG STORES PLC (3)
5 years from 27/07/2012
£49,750
26/07/2017
Totals
667.95 sq m
(7,190 sq ft)
£99,750
1) Blacks Outdoor Retail Limited is a subsidiary (and part of The Outdoor Division) of JD Sports Fashion plc. It currently trades from around 74 Blacks and 80 Millets stores in the UK. (Source: www.jdplc.com and www.millets.co.uk 27/05/2016) (2) The lease is subject to a tenant option to determine on 3rd October 2019. (3) For the year ending 27th December 2014, Superdrug Stores Plc reported a turnover of £1,058,047,000, pre-tax profits of £38,044,000 and a total net worth of £138,513,000 (Source: Experian Group 27/05/2016).
