Approximate site area of 0.21 hectares (0.51 acres)
Nearby occupiers include New Look, Boots the Chemist, Superdrug and Holland & Barrett
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 41
Auction 25th May 2017
Rent £190,000 per Annum Exclusive
Status Sold
Price £2,290,000
Sector Supermarket/Convenience
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
13 miles south-east of Taunton, 30 miles north-east of Exeter, 53 miles south-west of Bristol
Roads
M5, A303, A358
Rail
Axminster Railway Station
Air
Exeter Airport, Bristol Airport
Situation
Chard is an attractive town situated on the edge of the Blackdown Hills which is in an Area of Outstanding Natural Beauty. The property is situated on the west side of Holyrood Street in the town centre, close to Fore Street, the town’s principal retailing street. Nearby occupiers include New Look, Boots the Chemist, Specsavers, Superdrug and Holland & Barrett.
Tenure
Freehold.
Location
Miles
13 miles south-east of Taunton, 30 miles north-east of Exeter, 53 miles south-west of Bristol
Roads
M5, A303, A358
Rail
Axminster Railway Station
Air
Exeter Airport, Bristol Airport
Situation
Chard is an attractive town situated on the edge of the Blackdown Hills which is in an Area of Outstanding Natural Beauty. The property is situated on the west side of Holyrood Street in the town centre, close to Fore Street, the town’s principal retailing street. Nearby occupiers include New Look, Boots the Chemist, Specsavers, Superdrug and Holland & Barrett.
Tenure
Freehold.
Description
The property comprises a substantial detached supermarket of approximately 1,699.37 sq m (18,292 sq ft) with an approximate site area of 0.21 hectares (0.51 acres). The property also benefits from a rear service yard with car parking and a loading bay and there is a substantial public car park adjacent to the property for approximately 150 cars. There is an electricity substation on the site.
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 substantial detached supermarket of approximately 1,699.37 sq m (18,292 sq ft) with an approximate site area of 0.21 hectares (0.51 acres). The property also benefits from a rear service yard with car parking and a loading bay and there is a substantial public car park adjacent to the property for approximately 150 cars. There is an electricity substation on the site.
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/(Reversion)
Ground First
Retail Ancillary
1,616.85 sq m 82.52 sq m
(17,404 sq ft) (888 sq ft)
SAINSBURY'S SUPERMARKETS LTD (1)
10 years from 25/12/2013 on a full repairing and insuring lease (2) (3)
£190,000
25/12/2018 (24/12/2023)
Total
1,699.37 sq m
(18,292 sq ft)
£190,000
(1) For the year ending 12th March 2016, Sainsbury's Supermarkets Ltd reported a turnover of £23,168,000,000, pre-tax profits of £406,000,000 and a total net worth of £4,458,000,000 (Source: Experian Group 20/04/2017). (2) The lease provides for a tenant option to determine the lease on 24/12/2018 subject to 9 months’ written notice. (3) The lease provides for a tenant option to renew the lease for a term of 10 years from 25/12/2023.
