183 King Street Great Yarmouth NR30 1LS

  • 183 King Street<br>Great Yarmouth<br>NR30 1LS

183 King Street
Great Yarmouth
NR30 1LS

Freehold Retail Investment

  • Let to WH Smith Retail Holdings Limited (no breaks)
  • Includes Post Office counter
  • Pedestrianised town centre location
  • Occupiers in Market Gates Shopping Centre include Boots the Chemist, JD Sports, Wilko, Superdrug and Starbucks
  • Other nearby occupiers include Holland & Barrett, Greggs, River Island and branches of Santander, Barclays and Halifax banks
  • Lot
    66
  • Auction
    11th July 2018
  • Rent
    £80,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £650,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important UpdateInterested?
  • Expand
  • Photos
  • Map

Freehold Retail Investment

  • Let to WH Smith Retail Holdings Limited (no breaks)
  • Includes Post Office counter
  • Pedestrianised town centre location
  • Occupiers in Market Gates Shopping Centre include Boots the Chemist, JD Sports, Wilko, Superdrug and Starbucks
  • Other nearby occupiers include Holland & Barrett, Greggs, River Island and branches of Santander, Barclays and Halifax banks
  • Lot 66
  • Auction 11th July 2018
  • Rent £80,000 per Annum Exclusive
  • Status Sold
  • Price £650,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
19 miles east of Norwich, 74 miles north of Colchester
Roads
A12, A47, A143
Rail
Great Yarmouth Railway Station
Air
Norwich International Airport
Situation

Great Yarmouth is a popular Norfolk coastal town that benefits from a significant seasonal increase in demographic due to holidaying familys and day visitors. The property is prominently situated fronting the pedestrianised King Street, in the heart of Great Yarmouth town centre. Market Gates Shopping Centre is located approximately 50 metres away, with retailers including Boots the Chemist, JD Sports, Wilko, Superdrug and Starbucks. Other nearby occupiers include Holland & Barrett, Greggs, River Island and branches of Santander, Barclays and Halifax banks.

Tenure

Freehold.

Location
Miles
19 miles east of Norwich, 74 miles north of Colchester
Roads
A12, A47, A143
Rail
Great Yarmouth Railway Station
Air
Norwich International Airport
Situation

Great Yarmouth is a popular Norfolk coastal town that benefits from a significant seasonal increase in demographic due to holidaying familys and day visitors. The property is prominently situated fronting the pedestrianised King Street, in the heart of Great Yarmouth town centre. Market Gates Shopping Centre is located approximately 50 metres away, with retailers including Boots the Chemist, JD Sports, Wilko, Superdrug and Starbucks. Other nearby occupiers include Holland & Barrett, Greggs, River Island and branches of Santander, Barclays and Halifax banks.

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation and first and second floor ancillary accommodation and a basement plant room. The property benefits from rear access.

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 ground floor retail accommodation and first and second floor ancillary accommodation and a basement plant room. The property benefits from rear access.

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 Reviews
(Reversion)
Ground
First
Second
Basement		 Retail
Ancillary
Ancillary
Plant Room
530.70 sq m
437.57 sq m
53.50 sq m
19.6 sq m
(5,713 sq ft)
(4,710 sq ft)
(575 sq ft)
(211 sq ft)
 WH SMITH
RETAIL
HOLDINGS
LIMITED (1)		 10 years from
01/03/2012 on a
full repairing and
insuring lease (2)		 £80,000 (3) 01/03/2017
(21/02/2022)
(2)
Total
1,041.37 sq m
(11,209 sq ft)
     £80,000 (3)  

(1) For the year ending 31st August 2017, WH Smith Retail Holdings Limited reported a turnover of £181,024,000, pre-tax profits of £67,219,000 and a total net worth of £449,954,000 (Source: Experian Group 18/06/2018).
(2) The tenant has indicated that they would like to enter into negotiations for a new lease.
(3) Rent rebased from £95,000 in 2012.

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Darlingtons Solicitors 7 Spring Villa Park
Edgware
Middlesex
HA8 7EB
Jonathan Green 0208 951 6620jgreen@darlingtons.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

You may also be interested in

By clicking the Submit button I confirm that I would like to get updates on this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

We will keep you updated about lot xthis property.

In the meantime, if you would like to speak to the Surveyor about this property, please call on .

Are you sure you want to remove this property from your Watch List?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?