27 Bank Street Braintree Essex CM7 1UG

  • 27 Bank Street<br>Braintree<br>Essex<br>CM7 1UG

27 Bank Street
Braintree
Essex
CM7 1UG

Freehold Retail Investment

  • Entirely let to New Look Retailers Limited (by way of Lease Renewal)
  • New 15 year lease from September 2016 (subject to option)
  • Approximately 8,168 sq ft
  • Prime location close to George Yard Shopping Centre
  • Nearby occupiers include Sainsbury's Supermarket, Edinburgh Woollen Mill, Iceland, Costa and H. Samuel
  • Popular Essex market town
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    26
  • Auction
    16th February 2017
  • Rent
    £93,000 per Annum Exclusive
  • Status
    Sold Post
  • Price
     
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Freehold Retail Investment

  • Entirely let to New Look Retailers Limited (by way of Lease Renewal)
  • New 15 year lease from September 2016 (subject to option)
  • Approximately 8,168 sq ft
  • Prime location close to George Yard Shopping Centre
  • Nearby occupiers include Sainsbury's Supermarket, Edinburgh Woollen Mill, Iceland, Costa and H. Samuel
  • Popular Essex market town
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 26
  • Auction 16th February 2017
  • Rent £93,000 per Annum Exclusive
  • Status Sold Post
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
11 miles north-east of Chelmsford, 15 miles west of Colchester, 40 miles north-east of Central London
Roads
A12, A120, A131
Rail
Braintree Railway Station
Air
London Stansted Airport
Situation

The property is located in a prime retailing location on the western side of Bank Street, which connects to High Street in the heart of Braintree town centre. George Yard Shopping Centre is located within close proximity, housing occupiers including Boots the Chemist, Peacocks, WHSmith, Superdrug and Poundworld. Other nearby occupiers include Sainsbury's Supermarket,
Iceland, Edinburgh Woollen Mill, H. Samuel, HSBC and Costa Coffee. George Yard Multi-Storey Car Park is located nearby which has parking for in excess of 700 cars.

Tenure

Freehold.

Location
Miles
11 miles north-east of Chelmsford, 15 miles west of Colchester, 40 miles north-east of Central London
Roads
A12, A120, A131
Rail
Braintree Railway Station
Air
London Stansted Airport
Situation

The property is located in a prime retailing location on the western side of Bank Street, which connects to High Street in the heart of Braintree town centre. George Yard Shopping Centre is located within close proximity, housing occupiers including Boots the Chemist, Peacocks, WHSmith, Superdrug and Poundworld. Other nearby occupiers include Sainsbury's Supermarket,
Iceland, Edinburgh Woollen Mill, H. Samuel, HSBC and Costa Coffee. George Yard Multi-Storey Car Park is located nearby which has parking for in excess of 700 cars.

Tenure

Freehold.

Description

The property comprises a ground floor shop with ancillary accommodation on the first and second floors. The property benefits from a service yard to the rear.

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 ancillary accommodation on the first and second floors. The property benefits from a service yard to the rear.

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 Reviews
Ground
First
Second		 Retail/Ancillary
Ancillary
Ancilary
365.20 sq m
324.70 sq m
68.93 sq m
(3,931 sq ft)
(3,495 sq ft)
(742 sq ft)
 NEW LOOK
RETAILERS LIMITED
(1)		 15 years from
29/09/2016 until
28/09/2031 (2) on a full
repairing and insuring
lease		 £93,000 29/09/2021
29/09/2026
Totals  
758.83 sq m
(8,168 sq ft)
     £93,000  

(1) For the year ending 26th March 2016, New Look Retailers Limited reported a turnover of £1,398,502,000, pre-tax profits of £178,532,000 and a total net worth of £323,253,000 (Source: Experian Group 09/01/2017). New Look now trade from about 575 stores in the UK and over 1,100 stores worldwide (Source: www.newlook.com 09/01/2017).
(2) The lease is subject to a tenant break option on 29th September 2026 subject to six months prior written notice.

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Druces LLP Salisbury House, London Wall
London
EC2M 5PS
Karen Chapman 0207 216 5591k.chapman@druces.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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