3 High Street East Dereham Norfolk NR19 1DZ

3 High Street
East Dereham
Norfolk
NR19 1DZ

Freehold Retail Investment

Let to TUI UK Retail Limited
New 10 year renewed lease from March 2018 (subject to option)
Rent increased from £20,000 per annum
Nearby occupiers include Greggs, Costa, Boots the Chemist and a Co-operative Food supermarket
Prominent trading location in attractive Norfolk market town
VAT-free investment

Lot
17
Auction
24th May 2018
Rent
£25,000 per Annum
Status
Withdrawn Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment

Let to TUI UK Retail Limited
New 10 year renewed lease from March 2018 (subject to option)
Rent increased from £20,000 per annum
Nearby occupiers include Greggs, Costa, Boots the Chemist and a Co-operative Food supermarket
Prominent trading location in attractive Norfolk market town
VAT-free investment

Lot 17
Auction 24th May 2018
Rent £25,000 per Annum
Status Withdrawn Prior
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 15 miles north-west of Norwich, 20 miles north-east of Thetford
Roads: A47
Rail: Dereham Railway Station
Air: London Stansted Airport

Situation

The property is located on the eastern side of High Street, close to Nelson Place Shopping Centre, in the heart of East Dereham town centre. Nearby occupiers include Greggs, Costa, Boots the Chemist, a Co-operative Food supermarket, Superdrug, Iceland and branches of HSBC, Halifax and Lloyds banks.

Tenure

Freehold.

Location

Miles: 15 miles north-west of Norwich, 20 miles north-east of Thetford
Roads: A47
Rail: Dereham Railway Station
Air: London Stansted Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor shop with ancillary accommodation on the first floor.

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 ground floor shop with ancillary accommodation on the first floor.

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	71.81 sq m 30.10 sq m	(773 sq ft) (324 sq ft)	TUI UK RETAIL LIMITED (1) t/a TUI	10 years from 25/03/2018 until 24/03/2028 (2) on a full repairing and insuring lease	£25,000	25/03/2023
Total		101.91 sq m	(1,097 sq ft)			£25,000

(1) In the UK and Ireland, TUI employ around 12,500 people, with over 600 travel agencies, with the wider TUI Group employing around 67,000 people and servicing 20 million customers. For the year ending 30 September 2017, TUI UK Retail Limited reported a turnover of £201,000,000, pre-tax profits of £1,000,000 and a total net worth of £191,000,000 (Sources: www.tui.co.uk and Experian Group 26/04/2018).
(2) The lease provides for a tenant option to determine on the fifth anniversary of term commencement.