3 Market Place Stowmarket Suffolk IP14 1DT

  • 3 Market Place<br>Stowmarket<br>Suffolk<br>IP14 1DT

3 Market Place
Stowmarket
Suffolk
IP14 1DT

Freehold Retail/Residential Investment

  • Prominent position in affluent market town
  • Ground floor let to The Carphone Warehouse Limited
  • Carphone Warehouse did not exercise their March 2017 break option
  • Pedestrianised town centre location
  • Nearby occupiers include Holland & Barrett, Superdrug, Specsavers, Argos, Boots the Chemist and Asda
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    35
  • Auction
    16th February 2017
  • Rent
    £27,600 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Freehold Retail/Residential Investment

  • Prominent position in affluent market town
  • Ground floor let to The Carphone Warehouse Limited
  • Carphone Warehouse did not exercise their March 2017 break option
  • Pedestrianised town centre location
  • Nearby occupiers include Holland & Barrett, Superdrug, Specsavers, Argos, Boots the Chemist and Asda
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 35
  • Auction 16th February 2017
  • Rent £27,600 per Annum Exclusive
  • Status Withdrawn Post
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
12 miles north-west of Ipswich
15 miles south-east of Bury St Edmunds
25 miles north of Colchester
Roads
A14, A140, A134, A11 & M11
Rail
Stowmarket Railway Station
Air
Norwich International Airport, London Stansted Airport
Situation

The property is prominently situated on the north side of pedestrianised Market Place at it's junction with Butter Market in the heart of the town centre. The property is close to The Meadow Centre which houses retailers including Asda, Thomas Cook, Oxfam and Costa. Other nearby occupiers include Holland & Barrett, Superdrug, Specsavers, Argos and Boots the Chemist.

Tenure

Freehold.

Location
Miles
12 miles north-west of Ipswich
15 miles south-east of Bury St Edmunds
25 miles north of Colchester
Roads
A14, A140, A134, A11 & M11
Rail
Stowmarket Railway Station
Air
Norwich International Airport, London Stansted Airport
Situation

The property is prominently situated on the north side of pedestrianised Market Place at it's junction with Butter Market in the heart of the town centre. The property is close to The Meadow Centre which houses retailers including Asda, Thomas Cook, Oxfam and Costa. Other nearby occupiers include Holland & Barrett, Superdrug, Specsavers, Argos and Boots the Chemist.

Tenure

Freehold.

Description

The property comprises a double fronted ground floor retail unit with a self-contained two bedroom flat on the first and second 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 double fronted ground floor retail unit with a self-contained two bedroom flat on the first and second 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 Retail/Ancillary
52.70 sq m
(567 sq ft)
 THE CARPHONE
WAREHOUSE
LIMITED (1)		 15 years from
23/03/2007 on a full
repairing and
insuring lease		 £27,500 23/03/2017
(22/03/2022)
First and
Second		 Residential
Two bedroom flat
 INDIVIDUAL 125 years from
01/01/2005		 £100 (31/12/2129)
Total Commercial Area
52.70 sq m
(567 sq ft)
     £27,600  

(1) For the year ending 2nd May 2015, The Carphone Warehouse Limited reported a turnover of £2,056,123,000, pre-tax profits of £77,146,000 and a total net worth of £1,007,570,000 (Source: Experian Group 17/01/2017).

Contacts

Seller's Solicitors
Weightmans Solicitors Pall Mall Court , 61-67 King Street
Manchester
M2 4DP
Varun Maharaj 0161 214 0536varun.maharaj@weightmans.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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