Prime Retail Investment
Prime Retail Investment
Marlborough is an affluent and attractive market town located in the North Wessex Downs, home to the famous Marlborough College. The property is situated on the northern side of High Street, opposite a Waitrose supermarket and a car park for 150 cars. Other nearby occupiers include White Stuff, Mint Velvet, Sea Salt, Jigsaw, Joules, Rick Stein’s and Caffè Nero, as well as branches of Lloyds, Barclays and NatWest banks. High Street provides car parking for approximately 100 cars.
Long Leasehold. Held for a term of 150 years from and including 26th April 2013 at a peppercorn rent.
Marlborough is an affluent and attractive market town located in the North Wessex Downs, home to the famous Marlborough College. The property is situated on the northern side of High Street, opposite a Waitrose supermarket and a car park for 150 cars. Other nearby occupiers include White Stuff, Mint Velvet, Sea Salt, Jigsaw, Joules, Rick Stein’s and Caffè Nero, as well as branches of Lloyds, Barclays and NatWest banks. High Street provides car parking for approximately 100 cars.
Long Leasehold. Held for a term of 150 years from and including 26th April 2013 at a peppercorn rent.
The property comprises a ground floor shop with a basement providing ancillary accommodation, forming part of a larger building.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a ground floor shop with a basement providing ancillary accommodation, forming part of a larger building.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Ground Basement |
Retail/Ancillary Ancillary |
52.38 sq m 37.90 sq m |
(566 sq ft) (408 sq ft) |
RETAILER MARLBOROUGH 070 LIMITED t/a Moda in Pelle (1) |
10 years from completion (2) on an effectively fully repairing and insuring lease |
£32,500 | November 2023 to Open Market Value |
| Total |
90.28 sq m |
(974 sq ft) |
£32,500 | ||||
(1) Moda in Pelle was founded in 1975 and sells women’s shoes and accessories. They currently operate from almost 50 locations nationwide, including Marlow, Amersham, Bath, London (Oxford Street), Manchester, Leeds, Sheffield (Meadowhall) and Harrogate (Source: www.modainpelle.com 12/09/2018). A six month rent deposit will be held by the landlord.
(2) The lease is subject to a tenant option to determine on the fifth anniversary of the commencement of the term. A rent penalty, equivalent to 6 months’ rent (£16,250) is payable to the landlord if the tenant exercises the break option in 2023.
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