Residential Redevelopment Potential (subject to consents)
RPI Linked Rent Review
Nearby occupiers include HSBC and Halifax Banks, New Look and WH Smith
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 95
Auction 13th October 2016
Rent £113,800 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
70 miles south-east of London, 19 miles south-east of Canterbury, 29 miles east of Ashford
Roads
A2, A20, A256
Rail
Deal Railway Station
Air
London Gatwick Airport
Situation
Deal is a popular town in Kent benefiting from Southeastern's high speed railway line which connects Deal with Ashford International and London St Pancras. The property is situated in a prominent corner position on the east side of High Street, at its junction with Market Street. Nearby occupiers include HSBC and Halifax Banks, New Look and WH Smith.
Tenure
Freehold.
Location
Miles
70 miles south-east of London, 19 miles south-east of Canterbury, 29 miles east of Ashford
Roads
A2, A20, A256
Rail
Deal Railway Station
Air
London Gatwick Airport
Situation
Deal is a popular town in Kent benefiting from Southeastern's high speed railway line which connects Deal with Ashford International and London St Pancras. The property is situated in a prominent corner position on the east side of High Street, at its junction with Market Street. Nearby occupiers include HSBC and Halifax Banks, New Look and WH Smith.
Tenure
Freehold.
Description
The property comprises a substantial corner property comprising 5 buildings fronting High Street and a further two buildings fronting Market Street. The property currently forms a large department store and a self-contained retail unit with ancillary accommodation on the first and second floors. The property may benefit from future residential redevelopment (subject to consents).
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 substantial corner property comprising 5 buildings fronting High Street and a further two buildings fronting Market Street. The property currently forms a large department store and a self-contained retail unit with ancillary accommodation on the first and second floors. The property may benefit from future residential redevelopment (subject to consents).
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
Unit
Floor
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
74-80
Ground First Second
693.96 sq m 578.09 sq m 119.66 sq m
(7,470 sq ft) (6,223 sq ft) (1,288 sq ft)
THE FACTORY SHOP LIMITED (1)
15 years from 16/10/2008 on a full repairing and insuring lease
£103,800
16/10/2018 (2) (15/10/2023)
82-84
Ground First Second
54.30 sq m 29.00 sq m 38.80 sq m
(584 sq ft) (312 sq ft) (417 sq ft)
SWANSTITCH LIMITED
5 years from 01/02/2015 on a full repairing and insuring lease
£10,000
(31/01/2020)
Totals
1,513.81 sq m
(16,294 sq ft)
£113,800
(1) For the year ending 29th March 2015, The Factory Shop Limited reported a turnover of £174,334,000, pre-tax profits of £7,855,000 and a total net worth of £44,438,000. (Source: www.riskdisk.com 06/09/2016). (2) The lease provides for the 2018 rent review to be increased in line with the Retail Price Index. Please see lease for details.
