New 10 year lease from October 2018 (subject to option)
Shop comprehensively refurbished prior to the letting
Nearby occupiers include Boots the Chemist, Joules, Space.NK, Caffè Nero, WHSmith, The White Company, White Stuff, Neal’s Yard and Jack Wills
VAT-free investment
Prosperous and historic Lincolnshire market town
Lot 34
Auction 5th December 2018
Rent £47,000 per Annum
Status Sold
Price £962,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
14 miles north-west of Peterborough, 42 miles south-east of Nottingham
Roads
A1, A606
Rail
Stamford Railway Station
Air
East Midlands Airport
Situation
Renowned for its wealth of limestone-dressed buildings, in 2013 Stamford was rated the best place to live by the Sunday Times. A prosperous and historic Lincolnshire market town, it occupies a strategic point on the Great North Road (A1), being halfway between London and York. The property is situated in one of the finest trading positions, on the southern side of the pedestrianised High Street, close to Red Lion Square. Nearby occupiers include the adjoining Boots the Chemist with Joules, Space.NK, WHSmith, The White Company, White Stuff, Neal’s Yard, Jack Wills and Caffè Nero all nearby. Bath Row car park is a short walk away, providing car parking for approximately 40 cars.
Tenure
Freehold.
Location
Miles
14 miles north-west of Peterborough, 42 miles south-east of Nottingham
Roads
A1, A606
Rail
Stamford Railway Station
Air
East Midlands Airport
Situation
Renowned for its wealth of limestone-dressed buildings, in 2013 Stamford was rated the best place to live by the Sunday Times. A prosperous and historic Lincolnshire market town, it occupies a strategic point on the Great North Road (A1), being halfway between London and York. The property is situated in one of the finest trading positions, on the southern side of the pedestrianised High Street, close to Red Lion Square. Nearby occupiers include the adjoining Boots the Chemist with Joules, Space.NK, WHSmith, The White Company, White Stuff, Neal’s Yard, Jack Wills and Caffè Nero all nearby. Bath Row car park is a short walk away, providing car parking for approximately 40 cars.
Tenure
Freehold.
Description
The property comprises a recently comprehensively refurbished ground floor shop with ancillary accommodation on the lower ground and first floors.
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 recently comprehensively refurbished ground floor shop with ancillary accommodation on the lower ground and first floors.
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
Review
Ground Lower Ground First
Retail Ancillary Ancillary
58.06 sq m 9.38 sq m 46.54 sq m
(625 sq ft) (101 sq ft) (501 sq ft)
HOTEL CHOCOLAT STORES LIMITED (1)
10 years from 15/10/2018 until 14/10/2028 on a full repairing and insuring lease (2)
£47,000
15/10/2023
Total
113.98 sq m
(1,227 sq ft)
£47,000
(1) Hotel Chocolat trades from 113 branches in the UK. Hotel Chocolat Stores Limited is a part of Hotel Chocolat Group Plc who, for the year ending 2nd July 2017, reported a turnover of £105,240,130, pre-tax profits of £11,205,211 and a total net worth of £28,824,844 (Sources: www.hotelchocolat.com and Experian Group 08/11/2018). (2) The lease is subject to a tenant option only option to determine on 14th October 2023. If the tenant exercises their option to determine, a rent penalty of £11,750 will be paid to the landlord.
