Prominent High Street location close to WHSmith, Costa, Burton, Boots the Chemist, Poundland and Greggs
Town Hall Public Car Park located to the rear of the property
VAT-free Investment
Lot 16
Auction 28th March 2018
Rent £115,000 per Annum Exclusive
Status Sold
Price £1,870,000
Sector Supermarket/Convenience
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
18 miles south-west of Bury St Edmunds, 20 miles south-east of Cambridge
Roads
A14, A12, M11
Air
London Stansted Airport
Situation
The property is prominently situated on the southwestern side of High Street, south of its junction with Market Hill and north of its junction with Jubilee Walk. Nearby occupiers include WHSmith, Costa, Burton, Boots the Chemist, Poundland and branches of HSBC, Lloyds, NatWest and Barclays banks. The Town Hall Public Car Park is located a short walk away, providing car parking for over 100 cars.
Tenure
Freehold.
Location
Miles
18 miles south-west of Bury St Edmunds, 20 miles south-east of Cambridge
Roads
A14, A12, M11
Air
London Stansted Airport
Situation
The property is prominently situated on the southwestern side of High Street, south of its junction with Market Hill and north of its junction with Jubilee Walk. Nearby occupiers include WHSmith, Costa, Burton, Boots the Chemist, Poundland and branches of HSBC, Lloyds, NatWest and Barclays banks. The Town Hall Public Car Park is located a short walk away, providing car parking for over 100 cars.
Tenure
Freehold.
Description
The property comprises a large well configured ground floor shop with ancillary accommodation on the first floor. The property benefits from car parking to the rear.
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 large well configured ground floor shop with ancillary accommodation on the first floor. The property benefits from car parking to the rear.
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
Reviews
Ground First
Retail/Ancillary Ancillary
675.70 sq m 499.20 sq m
(7,273 sq ft) (5,373 sq ft)
ICELAND FOODS LIMITED (1)
15 years from 13/09/2013 until 12/09/2028 on a full repairing and insuring lease
£115,000
13/09/2018 13/09/2023
Total
1,174.90 sq m
(12,646 sq ft)
£115,000
(1) For the year ending 24th March 2017, Iceland Foods Limited reported a turnover of £2,770,500,000, pre-tax profits of £67,300,000 and a total net worth of £784,100,000 (Source: Experian Group 22/02/2018).
