Nearby occupiers include EE, O2, Costa, McDonald’s, Santander, Jack Wills
Lot 68
Auction 5th December 2018
Rent £125,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
19 miles north-east of Colchester
54 miles south-east of Cambridge
65 miles north-east of London
Roads
A12, A14
Rail
Ipswich Railway Station
Air
London Stansted Airport
Situation
Ipswich is the county town of Suffolk and is a major commercial centre in the east of England, with a catchment population of approximately 230,000. The town is well located some 80 miles north-east of London via the A12 dual carriageway, which provides a direct link with the M25 motorway. Communications are also enhanced by the A14 east-west trunk road being approximately 2 miles from the town centre. There are regular rail services to London Liverpool Street. The property is situated in the heart of Ipswich town centre on the northern side of Tavern Street, close to its junction with Upper Brook Street and 50 metres from Buttermarket. Nearby occupiers include EE, O2, Costa, McDonald’s, Santander, Jack Wills and Superdrug.
Tenure
Virtual Freehold. For a term of 999 years from completion at a peppercorn.
Location
Miles
19 miles north-east of Colchester
54 miles south-east of Cambridge
65 miles north-east of London
Roads
A12, A14
Rail
Ipswich Railway Station
Air
London Stansted Airport
Situation
Ipswich is the county town of Suffolk and is a major commercial centre in the east of England, with a catchment population of approximately 230,000. The town is well located some 80 miles north-east of London via the A12 dual carriageway, which provides a direct link with the M25 motorway. Communications are also enhanced by the A14 east-west trunk road being approximately 2 miles from the town centre. There are regular rail services to London Liverpool Street. The property is situated in the heart of Ipswich town centre on the northern side of Tavern Street, close to its junction with Upper Brook Street and 50 metres from Buttermarket. Nearby occupiers include EE, O2, Costa, McDonald’s, Santander, Jack Wills and Superdrug.
Tenure
Virtual Freehold. For a term of 999 years from completion at a peppercorn.
Description
This Grade II listed property comprises a large ground floor shop with ancillary first floor accommodation. (The property to be sold forms part of a larger building which is not included in the sale) The large ground floor shop could be divided, subject to all the necessary consents, to comprise two ground floor shops.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC Rating is available from the legal pack at
www.acuitus.co.uk.
Description
This Grade II listed property comprises a large ground floor shop with ancillary first floor accommodation. (The property to be sold forms part of a larger building which is not included in the sale) The large ground floor shop could be divided, subject to all the necessary consents, to comprise two ground floor shops.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC Rating is available from the legal pack at
www.acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground First
Retail Ancillary
418 sq m 302.7 sq m
(4,499 sq ft) (3,258 sqft)
OUTDOOR AND CYCLE CONCEPTS LIMITED t/a Cotswold (1)
10 years from 13/04/2011
£125,000
2021
Total
720.70 sq m
(7,757 sq ft)
£125,000
(1) For the year ended 31st December 2017, Outdoor and Cycle Concepts Limited reported a turnover of £197,327,000, a pre-tax loss of £6,732,000 and a negative net worth of £46,424,000 (Source : Experian 05/11/2018). Outdoor and Cycle Concepts Limited operates from 78 shops in the UK – “inspiring adventures since 1974” (Source: www.cotswoldoutdoor.com).
Contacts
Seller's Solicitors
Venator Legal Services Ltd Sandy Hill House, Sandy Hill Lane Weybourne Norfolk NR25 7HW
