15 - 17 High Street Ely Cambridgeshire CB7 4LQ

15 - 17 High Street
Ely
Cambridgeshire
CB7 4LQ

Freehold Retail/Restaurant Investment

Let to Tasty Plc
Lease expires February 2037 (No breaks)
New lease from February 2012
Nearby occupiers include Waitrose, Prezzo, Pizza Express, Caffé Nero and Fat Face
Short walk from Ely Cathedral - a popular tourist attraction
Attractive and affluent Cathedral City
VAT-free investment
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
33
Auction
13th October 2016
Rent
£90,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

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Freehold Retail/Restaurant Investment

Let to Tasty Plc
Lease expires February 2037 (No breaks)
New lease from February 2012
Nearby occupiers include Waitrose, Prezzo, Pizza Express, Caffé Nero and Fat Face
Short walk from Ely Cathedral - a popular tourist attraction
Attractive and affluent Cathedral City
VAT-free investment
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 33
Auction 13th October 2016
Rent £90,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Restaurant
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

Property Information

Location

Miles: 14 miles north-east of Cambridge, 28 miles south of King’s Lynn
Roads: A10, A142
Rail: Ely Railway Station
Air: London Stansted Arport

Situation

Ely is an attractive City which is dominated by the large Norman Cathedral that is a popular tourist attraction. The property is located on the northern side of High Street, near to it's junction with the pedestrianised Chequer Lane, only a short walk from the Cathedral. Nearby occupiers include Waitrose, Boots the Chemist, Wilko, Sports Direct, Savers Health & Beauty, Fat Face, Mountain Warehouse, Costa, New Look and Prezzo.

Tenure

Freehold.

Location

Miles: 14 miles north-east of Cambridge, 28 miles south of King’s Lynn
Roads: A10, A142
Rail: Ely Railway Station
Air: London Stansted Arport

Situation

Tenure

Freehold.

Description

The property comprises a large ground floor restaurant with a cinema room and ancillary accommodation at first floor. The property was comprehensively refurbished in 2011.

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 a large ground floor restaurant with a cinema room and ancillary accommodation at first floor. The property was comprehensively refurbished in 2011.

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	Review
Ground First	Restaurant/Ancillary Cinema Room/Ancillary	360.28 sq m 110.09 sq m	(3,878 sq ft) (1,185 sq ft)	TASTY PLC (1) t/a Wildwood	25 years from 13/02/2012 until 12/02/2037 on a full repairing and insuring lease)	£90,000	13 /02/2017 and five yearly thereafter
TOTALS		470.37 sq m	(5,063 sq ft)			£90,000

(1) Tasty Plc are a UK restaurant operator currently trading from 53 restaurants (over 40 as Wildwood) with plans for continued expansion. Other Wildwood restaurants include Cambridge, Canary Wharf, Covent Garden, Chichester, Cheam and Kingston. The principal shareholding directors of Tasty Plc include the founders of the restaurant chain Ask Italian. For the year ending 27th December 2015, Tasty Plc reported a turnover of £35,794,000, pre-tax profits of £3,067,000 and a total net worth of £21,814,000 (Sources: www.wildwoodrestaurants.co.uk and Experian Group 09/09/2016).