Freehold Retail Investment
Freehold Retail Investment
The London commuter town of Romford is a major commercial, retail and leisure location with excellent communication links. The property is prominently situated on the east side of Market Place close to the junction with South Street, Romford's principal retail thoroughfare. The property benefits from its strategic adjacent to the Liberty Shopping Centre. Neighbouring occupiers include Marks & Spencers, Primark, Top Shop, HSBC, Debenhams and Lloyds TSB.
Freehold.
The London commuter town of Romford is a major commercial, retail and leisure location with excellent communication links. The property is prominently situated on the east side of Market Place close to the junction with South Street, Romford's principal retail thoroughfare. The property benefits from its strategic adjacent to the Liberty Shopping Centre. Neighbouring occupiers include Marks & Spencers, Primark, Top Shop, HSBC, Debenhams and Lloyds TSB.
Freehold.
The property comprises a substantial retail unit comprising retail and ancillary accommodation on the ground floor and extensive ancillary accommodation on both the first and second floors. The property benefits from a goods lift.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a substantial retail unit comprising retail and ancillary accommodation on the ground floor and extensive ancillary accommodation on both the first and second floors. The property benefits from a goods lift.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Ground First Second |
Retail Ancillary Ancillary |
1,873.48 sq m 1,359.63 sq m 163.13 sq m |
(20,166 sq ft) (14,635 sq ft) (1,756 sq ft) |
ARGOS LIMITED (2) |
35 years from 29/09/1981 | £271,400 | 29/09/2011 (3) |
| Totals | 3,396.24 sq m |
36,557 sq ft |
£271,400 | ||||
(1) Floor areas agreed at a previous rent review.
(2) For the year ending 27th February 2010, Argos Limited reported a turnover of £4,164,475,000, pre-tax profits of £227,851,000 and a total net worth of £1,130,407,000. (Source: www.riskdisk.com 10/11/2011)
(3) The rent is reviewed to the greater of the rent payable prior to the review date or 84% of the annual rack rental value of the premises at the commencement of the new review period.
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