Comprises a shop with a separately accessed two bedroom maisonette above
To be let to Hays Travel Limited by way of Tenancy at Will (1)
Asset Management Opportunities including selling maisonette separately
Potential to obtain vacant possession of entire property or re-letting the shop to Hays Travel on regular protected tenancy (2)
Nearby occupiers include FatFace, Superdry, L'Occitane, Hotel Chocolat, Topshop, H&M, Boots the Chemist, Wilko, Pret A Manger, Vision Express and WHSmith
Comprises a shop with a separately accessed two bedroom maisonette above
To be let to Hays Travel Limited by way of Tenancy at Will (1)
Asset Management Opportunities including selling maisonette separately
Potential to obtain vacant possession of entire property or re-letting the shop to Hays Travel on regular protected tenancy (2)
Nearby occupiers include FatFace, Superdry, L'Occitane, Hotel Chocolat, Topshop, H&M, Boots the Chemist, Wilko, Pret A Manger, Vision Express and WHSmith
Lot 23
Auction 28th October 2020
Rent £3,750 per Month
Status Sold
Price £440,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
15 miles north-west of Basingstoke
17 miles west of Reading
Roads
A34, A339, M4
Rail
Newbury
Air
London Heathrow
Situation
Newbury is an affluent market town in Berkshire, approximately 15 miles north-west of Basingstoke. The property is located in a prime position on the west side of the pedestrianised Northbrook Street, close to Parkway Shopping Centre, with retailers including FatFace, Superdry, L'Occitane, Hotel Chocolat and H&M. Other nearby retailers on Northbrook Street include Boots the Chemist, Wilko, Pret A Manger, Vision Express and WHSmith.
Tenure
Freehold.
Location
Miles
15 miles north-west of Basingstoke
17 miles west of Reading
Roads
A34, A339, M4
Rail
Newbury
Air
London Heathrow
Situation
Newbury is an affluent market town in Berkshire, approximately 15 miles north-west of Basingstoke. The property is located in a prime position on the west side of the pedestrianised Northbrook Street, close to Parkway Shopping Centre, with retailers including FatFace, Superdry, L'Occitane, Hotel Chocolat and H&M. Other nearby retailers on Northbrook Street include Boots the Chemist, Wilko, Pret A Manger, Vision Express and WHSmith.
Tenure
Freehold.
Description
The property comprises a ground floor shop with a self contained 2 bedroom maisonette on the first and second floors. The property benefits from a yard to the rear with parking spaces for 2 cars.
VAT
VAT is applicable to this lot.
EPC
Band E. See legal pack at www.acuitus.co.uk.
Description
The property comprises a ground floor shop with a self contained 2 bedroom maisonette on the first and second floors. The property benefits from a yard to the rear with parking spaces for 2 cars.
VAT
VAT is applicable to this lot.
EPC
Band E. See legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Rent p.a.x
Ground First/Second
Retail/Ancillary 2 bed maisonette
103.90 sq m -
(1,118 sq ft) (-)
TCCT RETAIL LIMITED (1)
£3,750 pcm (£45,000 pax equivalent) (1) (2)
Total Commercial Area
103.90 sq m
(1,118 sq ft)
(1) The entire property is let to TCCT Retail Limited (t/a Thomas Cook (in liquidation)). In October 2019, Hays Travel acquired the entire retail portfolio of 555 Thomas Cook shops. On 28th September 2020, KPMG acting in their capacity as special managers of TCCT Retail Limited (t/a Thomas Cook (in liquidation)), determined Hays Travel current licence to occupy and confirmed that they intended to disclaim the lease held by TCCT Retail Limited (in liquidation). Hays Travel have recently offered to occupy by way of a Tenancy at Will paying £3,750 pcm + VAT. The Seller accepted their offer on 5th October 2020 and Solicitors are instructed to complete the Tenancy at Will - please see legal pack. (2) Hays Travel have simultaneously offered to take a formal tenancy of the ground floor only for a term of 10 years from completion, with a rent review and tenant only break option at year 5 at a commencing rent of £40,000 per annum exclusive, payable monthly. A 6 month rent free period has been proposed with a further 3 months rent free if the tenant break option is not exercised. The landlord would be obliged to repair and maintain the building in wind and water right condition with the tenant to keep the interior in good and tenantable condition, subject to a Schedule of Condition - please see legal pack.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
