274-276 High Street Bangor Gwynedd LL57 1UL

274-276 High Street
Bangor
Gwynedd
LL57 1UL

Freehold Retail Investment

Let to Blue Inc (UK) Limited
Prominent corner position on pedestrianised High Street
Important university and cathedral city
Diagonally opposite the Menai Shopping Centre and Deiniol Shopping Centre
Nearby occupiers include Boots Chemist, Poundworld, H&M and JD Sports

Lot
45
Auction
7th December 2017
Rent
£70,000 per Annum Exclusive
Status
Sold
Price
£515,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Trustees

Important Update Interested?

Expand
Photos
Map

Freehold Retail Investment

Let to Blue Inc (UK) Limited
Prominent corner position on pedestrianised High Street
Important university and cathedral city
Diagonally opposite the Menai Shopping Centre and Deiniol Shopping Centre
Nearby occupiers include Boots Chemist, Poundworld, H&M and JD Sports

Lot 45
Auction 7th December 2017
Rent £70,000 per Annum Exclusive
Status Sold
Price £515,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Trustees

Property Information

Location

Miles: 15 miles west of Colwyn Bay; 20 miles south-west of Llandudno; 60 miles west of Chester
Roads: A5, A55, A487
Rail: Bangor Railway Station
Air: Liverpool John Lennon Airport, Anglesey Airport

Situation

Bangor is an important university and cathedral city some 4 miles west of Snowdonia National Park. The property occupies a prominent corner position on the prime pedestrianised section of the High Street, close to its junction with Garth Road and both the Menai Shopping Centre and the Deiniol Shopping Centre. Nearby occupiers include Boots Chemist, Poundworld, H&M and JD Sports. To the rear of the property is the Plas Llwyd Car Park, accessed via Plasllwyd Terrace which is adjacent to the property.

Tenure

Freehold.

Location

Miles: 15 miles west of Colwyn Bay; 20 miles south-west of Llandudno; 60 miles west of Chester
Roads: A5, A55, A487
Rail: Bangor Railway Station
Air: Liverpool John Lennon Airport, Anglesey Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with return frontage and ancillary accommodation over first and second floors. The property benefits from a rear customer entrance.

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 retail unit with return frontage and ancillary accommodation over first and second floors. The property benefits from a rear customer entrance.

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
Ground First Second	Retail Ancillary Ancillary	393.16 sq m 264.49 sq m 78 sq m	(4,232 sq ft) (2,847 sq ft) (845 sq ft)	BLUE INC (UK) LIMITED (1)	10 years from 19/09/2013 until 18/09/2023 on a full repairing and insuring lease (2)	£70,000 (3)	19/09/2018
Totals		735.65 sq m	(7,924 sq ft)			£70,000 (3)

(1) Blue Inc is a UK based retailer currently operating from over 100 stores throughout the UK under two retail fascias, Blue Inc and Officers Club (Source: www.blueinc.co.uk 09/11/2017).
(2) The lease provides a tenant option to determine on 19/09/2018.
(3) A turnover rent is payable by the tenant. The turnover rent shall be the sum equal to 10% of the amount (if any) by which the turnover for each year of the term exceeds £1,000,000. For further information, please refer to Schedule 6 in the lease which can be found within the legal pack.