Retail let to William Hill Organization Limited on a new 15 year lease (subject to option)
Prime pedestrianised location opposite the Merrywalks Shopping Centre
Affluent Cotswold town
Nearby occupiers include Barclays Bank, Superdrug, Boots the Chemist and Holland & Barrett
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 69
Auction 7th July 2016
Rent £15,000 per Annum Exclusive
Status Sold
Price £195,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
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
Stroud is an affluent Cotswold market town situated some 13 miles south west of Cheltenham. The property is situated in a prominent position on the south side of pedestrianised King Street and opposite the entrance to the Merrywalks Shopping Centre. Nearby occupiers include Barclays Bank, Superdrug, Boots the Chemist and Holland & Barrett.
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
Stroud is an affluent Cotswold market town situated some 13 miles south west of Cheltenham. The property is situated in a prominent position on the south side of pedestrianised King Street and opposite the entrance to the Merrywalks Shopping Centre. Nearby occupiers include Barclays Bank, Superdrug, Boots the Chemist and Holland & Barrett.
Tenure
Freehold.
Description
The property comprises retail accommodation on the ground floor with ancillary accommodation on basement. The first floor is currently a self contained office benefiting from a certificate of lawfulness for residential use. The second and third floor comprises a 1 bed self contained maisonette. The property benefits from rear access from Fawkes Place.
VAT
VAT is not 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 retail accommodation on the ground floor with ancillary accommodation on basement. The first floor is currently a self contained office benefiting from a certificate of lawfulness for residential use. The second and third floor comprises a 1 bed self contained maisonette. The property benefits from rear access from Fawkes Place.
VAT
VAT is not 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
Reviews
Ground
Retail
86.40 sq m
(930 sq ft)
WILLIAM HILL ORGANIZATION LIMITED (1)
15 years from 16/02/2016 until 2031 on a full repairing and insuring lease (2)
£15,000 (3)
01/05/2020 01/05/2025
First
Office
To be a 1 bed flat
LONDON & CHELTENHAM ESTATES LTD
125 years from completion of the sale on a full repairing and insuring lease
Peppercorn
Second & Third
1 bed maisonette
INDIVIDUALS
125 years from 15/02/2013 on a full repairing and insuring lease
Peppercorn
Total Commercial Area
86.40 sq m
(930 sq ft)
£15,000 (3)
(1) William Hill Organization Limited was incorporated in 1933. William Hill operates from over 2,300 shops across the UK. (Source: www.williamhill.com) (2) The lease provides for a tenant option to determine the lease on 15th February 2021 and 2026. (3) The lease provides for a 6 month rent free period until 15/08/2016. The seller will pay the buyer the rent that would have been due in the absence of the rent free period, and therefore the property will produce £15,000 p.a.x. from completion of the sale.
