Opposite Fremlin Walk Shopping Centre, housing retailers including House of Fraser, Zara, H&M, Topman and Boots the Chemist
Popular restaurant location with nearby occupiers including Zizzi’s, Pizza Express, ASK Italian, Wagamama, Nando’s and Prezzo along with Marks & Spencer, River Island, Superdrug and Primark
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 54
Auction 7th July 2016
Rent £30,000 per Annum Exclusive
Status Sold
Price £420,000
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Opposite Fremlin Walk Shopping Centre, housing retailers including House of Fraser, Zara, H&M, Topman and Boots the Chemist
Popular restaurant location with nearby occupiers including Zizzi’s, Pizza Express, ASK Italian, Wagamama, Nando’s and Prezzo along with Marks & Spencer, River Island, Superdrug and Primark
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 54
Auction 7th July 2016
Rent £30,000 per Annum Exclusive
Status Sold
Price £420,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
17 miles north-east of Tunbridge Wells, 37 miles south-east of London
Roads
A20, A229, A249, M20 (Junction 6)
Rail
Maidstone East Railway Station Maidstone West Railway Station
Air
London Gatwick Airport, London City Airport
Situation
The property occupies a prominent corner position on the southern side of Earl Street, at its junction with Corn Exchange. The property is located opposite Fremlin Walk Shopping Centre which houses retailers including Zara, H&M, House of Fraser and Boots the Chemist. Other occupiers in the area include Nando's, Prezzo, ASK Italian, Cafe Rouge, Wagamama's, Prezzo, River Island, Marks & Spencer and Primark.
Tenure
Freehold.
Location
Miles
17 miles north-east of Tunbridge Wells, 37 miles south-east of London
Roads
A20, A229, A249, M20 (Junction 6)
Rail
Maidstone East Railway Station Maidstone West Railway Station
Air
London Gatwick Airport, London City Airport
Situation
The property occupies a prominent corner position on the southern side of Earl Street, at its junction with Corn Exchange. The property is located opposite Fremlin Walk Shopping Centre which houses retailers including Zara, H&M, House of Fraser and Boots the Chemist. Other occupiers in the area include Nando's, Prezzo, ASK Italian, Cafe Rouge, Wagamama's, Prezzo, River Island, Marks & Spencer and Primark.
Tenure
Freehold.
Description
The property comprises a ground floor shop, with further sales/ancillary accommodation at basement level. In addition there is self-contained accommodation currently being used as a dance
studio at first, second and third floors let on a long lease.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor shop, with further sales/ancillary accommodation at basement level. In addition there is self-contained accommodation currently being used as a dance
studio at first, second and third floors let on a long lease.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
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 Basement
Retail Retail/Ancillary
73.77 sq m 75.90 sq m
(794 sq ft) (817 sq ft)
RYMAN LIMITED (1)
10 years from 01/11/2011 (2)
£30,000
01/11/2016 (31/10/2021)
First, Second & Third
Dance Studio
-
(-)
AN INDIVIDUAL
999 years from 01/07/2008
Peppercorn
(30/06/3007)
Totals
149.67 sq m
(1,611 sq ft)
£30,000
(1) For the year ending 28th March 2015, Ryman Limited reported a turnover of £131,005,000, pre-tax profits of £7,918,000 and a total net worth of £44,489,000 (Source: Experian Group 23/05/2016). Ryman trade from about 220 shops in the United Kingdom (Source: www.ryman.co.uk 01/06/2016). (2) The lease to Ryman Limited provided for tenant options to determine in June 2014 and October 2016. Both break options were exercisable on 6 months’ notice and both break options were not exercised.
