10/11 High Town Hereford Herefordshire HR1 2AA

10/11 High Town
Hereford
Herefordshire
HR1 2AA

Freehold Retail Investment

Let to Monsoon Accessorize Limited
Prime pedestrianised retailing position in historic cathedral city
Nearby occupiers include WH Smith, Holland & Barrett, Costa Coffee, Boots the Chemist and Three Mobile
Residential potential (subject to consents)

Lot
10
Auction
5th December 2018
Rent
£170,000 per Annum Exclusive
Status
Sold
Price
£950,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of a Major Fund Manager

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Freehold Retail Investment

Let to Monsoon Accessorize Limited
Prime pedestrianised retailing position in historic cathedral city
Nearby occupiers include WH Smith, Holland & Barrett, Costa Coffee, Boots the Chemist and Three Mobile
Residential potential (subject to consents)

Lot 10
Auction 5th December 2018
Rent £170,000 per Annum Exclusive
Status Sold
Price £950,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of a Major Fund Manager

Property Information

Location

Miles: 25 miles south-west of Worcester; 65 miles south-west of Birmingham
Roads: A49, A438, M5, M50
Rail: Hereford Railway Station
Air: Birmingham Airport

Situation

The property is prominently situated in a prime position on the north side of pedestrianised High Town, in the heart of the city centre. Nearby occupiers include WH Smith, Holland & Barrett, Costa Coffee, Boots the Chemist and Three. Every Wednesday and Saturday, Hereford’s retail market trades directly outside the property, further enhancing footfall.

Tenure

Freehold.

Location

Miles: 25 miles south-west of Worcester; 65 miles south-west of Birmingham
Roads: A49, A438, M5, M50
Rail: Hereford Railway Station
Air: Birmingham Airport

Situation

Tenure

Freehold.

Description

The property comprises a double fronted ground floor retail unit with first floor ancillary accommodation. The second and third floors provide further ancillary space and are currently unused by the tenant. We understand there is a basement which is currently inaccessible. Part of the property is Grade II listed

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

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	Reversion
Ground First Second Third Basement	Retail Ancillary Ancillary Ancillary Not inspected	239.05 sq m 189.80 sq m 102.47 sq m 33.17 sq m	(2,573 sq ft) (2,043 sq ft) (1,103 sq ft) (357 sq ft)	MONSOON ACCESSORIZE LTD (1)	25 years from 24/06/1996 on a full repairing and insuring lease (2)	£170,000	23/06/2021
Total		564.49 sq m	(6,076 sq ft)			£170,000

(1) Monsoon opened its first store in 1973 and now has more than 1,000 Monsoon Accessorize stores all over the world (Source: uk.monsoon.co.uk 19/09/2018).
(2) The second and third floors are subject to a schedule of condition.