Freehold Retail Investment in Historic Market Town
Entirely let to Wilko Retail Limited with important outstanding 2018 Rent Review (see Note 2)
Located within historic market town of Stamford
Pedestrianised High Street location
Nearby occupiers include Tesco, Marks & Spencer, Subway, Costa Coffee and Carphone Warehouse
Lot 27
Auction 5th December 2018
Rent £93,800 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On the Instructions of a Major Pension Fund
Property Information
Location
Miles
13 miles north-west of Peterborough
21 miles south of Grantham
Roads
A1175, A43, A1
Rail
Stamford Rail (direct services to Birmingham New
Street, Cambridge and Stansted Airport)
Air
London Stansted, London Luton
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 a strong trading position, on the southern side of the pedestrianised High Street. Nearby occupiers include the adjoining Tesco Express, with Marks & Spencer Simply Food, Subway, Costa Coffee and Carphone Warehouse all nearby. Other retailers on High Street include Sea Salt, Jack Wills, White Company and Caffè Nero. St Leonard’s Street car park is a short walk away, providing car parking for approximately 40 cars.
Tenure
Freehold.
Location
Miles
13 miles north-west of Peterborough
21 miles south of Grantham
Roads
A1175, A43, A1
Rail
Stamford Rail (direct services to Birmingham New
Street, Cambridge and Stansted Airport)
Air
London Stansted, London Luton
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 a strong trading position, on the southern side of the pedestrianised High Street. Nearby occupiers include the adjoining Tesco Express, with Marks & Spencer Simply Food, Subway, Costa Coffee and Carphone Warehouse all nearby. Other retailers on High Street include Sea Salt, Jack Wills, White Company and Caffè Nero. St Leonard’s Street car park is a short walk away, providing car parking for approximately 40 cars.
Tenure
Freehold.
Description
The property, a stone faced two storey building, provides retail and ancillary accommodation on both the ground and first floors.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D. See legal pack at acuitus.co.uk
Description
The property, a stone faced two storey building, provides retail and ancillary accommodation on both the ground and first floors.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D. See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground First
Retail/Ancillary Ancillary
315.87 sq m 199.00 sq m
(3,400 sq ft) (2,145 sq ft)
WILKO RETAIL LIMITED (1)
15 years from 29/04/2008 until 28/04/2023 on a full repairing and insuring lease
£93,800
29/04/2018 (2)
Total
782.37 sq m
(5,545 sq ft)
£93,800
(1) Started in 1930, Wilko now has over 400 stores in the UK with 200,000 products also available at wilko on line (Source – corporate.wilko.com 07/11/2018). For the year ending 3rd February 2018, Wilko Retail Ltd reported a turnover of £1,619,577,000, operating profit of £12,995,000 and net assets of £104,949,000 (Source: Companies House 12/11/2018). (2) The 2018 rent review is currently outstanding. Notice has been served at £150,000 per annum. Please refer to the legal pack for information.
Contacts
Seller's Solicitors
Shepherd and Wedderburn LLP Condor House, 10 St. Paul's Churchyard London EC4M 8AL
