1-6 Bell Corner, Corbets Tey Road Upminster Greater london RM14 2AT

  • 1-6 Bell Corner, Corbets Tey Road<br>Upminster<br>Greater london<br>RM14 2AT

1-6 Bell Corner, Corbets Tey Road
Upminster
Greater london
RM14 2AT

Freehold Retail Investment

  • Includes tenants trading as First Choice, Greggs, Ladbrokes, Superdrug and Subway
  • Popular affluent East of London suburb
  • High prominent corner location on a busy junction
  • Existing planning consent for 13 apartments
  • Lot
    15
  • Auction
    26th May 2011
  • Rent
    £143,800 per Annum Exclusive
  • Status
    Sold
  • Price
    £2,250,000
  • Auction Venue
    Millennium Hotel
    39-44 Grosvenor Square
    London W1K 2HP
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Freehold Retail Investment

  • Includes tenants trading as First Choice, Greggs, Ladbrokes, Superdrug and Subway
  • Popular affluent East of London suburb
  • High prominent corner location on a busy junction
  • Existing planning consent for 13 apartments
  • Lot 15
  • Auction 26th May 2011
  • Rent £143,800 per Annum Exclusive
  • Status Sold
  • Price £2,250,000
  • Sector
    High Street Retail
  • Auction Venue
    Millennium Hotel
    39-44 Grosvenor Square
    London W1K 2HP

Property Information

Location
Miles
17 miles east of the City of London
Roads
M25, A12, A13, A127
Rail
Upminster (National Rail, District line),
Air
London City Airport
Situation

Upminster is an affluent East London suburb within the London Borough of Havering situated approximately 17 miles east of the City of London and 2 miles west of the M25. The property is prominently situated at the busy junction of Corbets Tey Road and St Mary's Lane (A124). Nearby occupiers include Aldi, Roomes Department Store, Costa Coffee, Pizza Express, Coral, Lloyds TSB, Waitrose and Halifax.

Tenure

Freehold.

Location
Miles
17 miles east of the City of London
Roads
M25, A12, A13, A127
Rail
Upminster (National Rail, District line),
Air
London City Airport
Situation

Upminster is an affluent East London suburb within the London Borough of Havering situated approximately 17 miles east of the City of London and 2 miles west of the M25. The property is prominently situated at the busy junction of Corbets Tey Road and St Mary's Lane (A124). Nearby occupiers include Aldi, Roomes Department Store, Costa Coffee, Pizza Express, Coral, Lloyds TSB, Waitrose and Halifax.

Tenure

Freehold.

Description

The property comprises an unbroken, predominantly single storey parade of six retail units. The property benefits from car parking on the roof accessed via a ramp via St Mary's Lane and from a rear service yard.

Planning permission has been granted under Reference
APP/B5480/A/08/2077094 for the development of 13 apartments (10 two
bedroom flats and 3 one bedroom flats) above the existing first floor car park
and ground floor commercial units. Copies of the proposed floor plans are
available from the Auctioneers. A computer generated image of the property
development is shown (image 4).

London Borough of Havering, Planning and Building Control
Mercury House, Mercury Gardens, Romford RM1 3SL
Website: http://www.havering.gov.uk/planning
Email: planning@havering.gov.uk
Telephone: +44 (0)170 8433 100

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises an unbroken, predominantly single storey parade of six retail units. The property benefits from car parking on the roof accessed via a ramp via St Mary's Lane and from a rear service yard.

Planning permission has been granted under Reference
APP/B5480/A/08/2077094 for the development of 13 apartments (10 two
bedroom flats and 3 one bedroom flats) above the existing first floor car park
and ground floor commercial units. Copies of the proposed floor plans are
available from the Auctioneers. A computer generated image of the property
development is shown (image 4).

London Borough of Havering, Planning and Building Control
Mercury House, Mercury Gardens, Romford RM1 3SL
Website: http://www.havering.gov.uk/planning
Email: planning@havering.gov.uk
Telephone: +44 (0)170 8433 100

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews
1 Retail
Ancillary

111.00 sq m
59.51 sq m

(1,195 sq ft)
(641 sq ft)
FIRST CHOICE RETAIL LIMITED (1)
10 years from 29/09/2008 £25,000 29/09/2013
2 Retail
63.27 sq m
(681 sq ft)
JAMES LESLIE LIMITED 10 years from 24/12/2005 £13,600 (2015)
3 Retail
69.55 sq m
(749 sq ft)
GREGGS PLC (2) 10 years from 24/12/2005 £15,000 (2015)
4 Retail
69.19 sq m
(745 sq ft)
LADBROKES RACING LIMED (3) 25 years from 12/03/1991 £17,200 (2016)
5 Retail
96.34 sq m
(1,037 sq ft)
SUBWAY REALTY LIMITED (4) 15 years from 17/02/2006 until 2021 £19,000 2011 and 2016
6 Retail
Ancillary
537.50 sq m
179.80 sq m
(5,786 sq ft)
(1,935 sq ft)
SUPERDRUG STORES PLC (5)
(on assignment from Medicare Limited)
63 years from 29/09/1963 until 2026 £54,000 (2026)
Totals

1,186.16 sq m (

(12,769 sq ft)
£143,800

(1) First Choice is a brand owned by TUI Travel plc, the world's leading leisure travel company operating in over 180 countries with more than 30 million customers in 27 key source markets. TUI Travel has over 200 brands which are comprised of market-leading mainstream brands and specialist travel businesses. TUI Travel is headquartered in the UK and employs approximately 49,000 people. (http://www.tuitravelplc.com/tui/pages/aboutus/corporateprofile).
(2) For the year ending 2nd January 2010, Greggs plc reported a turnover of £658,186,000, pre-tax profits of £48,779,000 and a total net worth of £172,953,000 (www.riskdisk.com 16.03.2011).
(3) For the year ending 31st December 2009, Ladbrokes Betting & Gaming Limited reported a turnover of £790,369,000, pre-tax profit of £238,011,000 and a total net worth of £694,339,000 (www.riskdisk.com 13.01.2011).
(4) For the year ending 31st December 2009, Subway Realty Limited reported a turnover of £24,818,000, pre-tax profit of £651,000 and a total net worth of £1,854,000 (www.riskdisk.com 16.03.2011).
(5) Superdrug Stores plc is the United Kingdom's second-largest beauty and health retailer currently operating over 900 stores in England, Scotland, Wales, Northern Ireland and the Republic of Ireland. They currently have 226 in-store pharmacies. (Source: http://www.superdrug.com/about-us/superdrug-today/page/superdrugtoday/)

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Charlie PowterCharlie Powter +44 (0)20 7034 4853 +44 (0)7768 120 904charlie.powter@acuitus.co.uk
Seller's Solicitors
Sharpe & Co Brigade House, Brigade Close
Harrow
Middlesex
HA2 0LQ
+44 (0)20 8426 8933
Simon Harris +44 (0)20 8423 7323 sharris@sharpeandco.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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