Neighbouring occupiers include Argos, Holland & Barrett, Dorothy Perkins, Topshop and Barclays
Lot 87
Auction 19th October 2017
Rent £68,000 per Annum Exclusive
Status Sold
Price £695,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
47 miles north-east of London, 16 miles south-east of Cambridge, 16 south-west of Bury St Edmund, 23 miles north-west of Colchester
Roads
M11, A14, A12
Rail
Dullingham Railway Station
Air
Stansted Airport
Situation
Haverhill, an attractive market town, lies equidistant from Cambridge to the north-west and Bury St Edmunds to the north-east and is approximately 12 miles to the east of the M11, accessible via junction 9. The property is prominently located on the east side of the busy Market Hill Road, on the junction with Swan Lane on Haverhill's main commercial pitch. Nearby occupiers include Argos, Holland & Barrett, Dorothy Perkins, Topshop and Barclays.
Tenure
Virtual Freehold. Virtual Freehold. Held for a term of 999 years from completion of sale at a fixed peppercorn rent.
Location
Miles
47 miles north-east of London, 16 miles south-east of Cambridge, 16 south-west of Bury St Edmund, 23 miles north-west of Colchester
Roads
M11, A14, A12
Rail
Dullingham Railway Station
Air
Stansted Airport
Situation
Haverhill, an attractive market town, lies equidistant from Cambridge to the north-west and Bury St Edmunds to the north-east and is approximately 12 miles to the east of the M11, accessible via junction 9. The property is prominently located on the east side of the busy Market Hill Road, on the junction with Swan Lane on Haverhill's main commercial pitch. Nearby occupiers include Argos, Holland & Barrett, Dorothy Perkins, Topshop and Barclays.
Tenure
Virtual Freehold. Virtual Freehold. Held for a term of 999 years from completion of sale at a fixed peppercorn rent.
Description
The property comprises substantial ground floor retail accommodation that forms part of a larger building and benefits from rear access and an unglazed return frontage. The property benefits from the use of 2 car parking spaces at the rear of the property.
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 substantial ground floor retail accommodation that forms part of a larger building and benefits from rear access and an unglazed return frontage. The property benefits from the use of 2 car parking spaces at the rear of the property.
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
Reversion
Ground
Retail
814 sq m
(8,761 sq ft)
PEACOCKS STORES LTD (1)
10 years from 14/09/2012 (2)
£68,000
13/09/2022
Total
814 sq m
(8,761 sq ft)
£68,000
(1) For the year ending 27th February 2016, Peacocks Stores Ltd reported a turnover of £369,711,000, a pre-tax profit of 67,879,000 and a net worth of 141,072,000 (Source: Experian Group 19/09/2017). (2) The tenant has NOT exercised the 2017 tenant option to determine the lease.
