Units 1-5 Taylors Square Newgate Beccles Suffolk NR34 9AT

Units 1-5 Taylors Square
Newgate
Beccles
Suffolk
NR34 9AT

Prime Freehold Town Centre Retail Parade Investment

Town Centre Retail Parade opposite Tesco Superstore & 442 space Car Park
Comprises 5 Shops of approx. 14,460 sq ft
Tenants include Fat Face, Holland & Barrett, Iceland & Angling Direct
Located close to Bus Station
Includes a Vacant Shop Unit
Immediate Asset Management Opportunities

Lot
31
Auction
31st March 2022
Rent
£196,000 per Annum Exclusive
Status
Withdrawn Prior
Price
Auction Venue
Live Streamed Auction

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Prime Freehold Town Centre Retail Parade Investment

Town Centre Retail Parade opposite Tesco Superstore & 442 space Car Park
Comprises 5 Shops of approx. 14,460 sq ft
Tenants include Fat Face, Holland & Barrett, Iceland & Angling Direct
Located close to Bus Station
Includes a Vacant Shop Unit
Immediate Asset Management Opportunities

Lot 31
Auction 31st March 2022
Rent £196,000 per Annum Exclusive
Status Withdrawn Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 9 miles west of Lowestoft, 19 miles south-east of Norwich and 33 north-east of Ipswich
Roads: A146, A143
Rail: Beccles Railway Station
Air: Norwich International Airport

Situation

Beccles is an affluent market town on the Norfolk/Suffolk border, 19 miles south east of Norwich and 33 north east of Ipswich. The town benefits from good road communications from the A146 & A143. The property is situated to the north-east of the Town Centre on Newgate at its junction with Manor House Lane. Pedestrianised Manor House Lane connects the Tesco car park to the Town Centre. Directly opposite the property is Costa Coffee and a Tesco supermarket, which provides approximately 442 car parking spaces.

Tenure

Freehold.

Location

Miles: 9 miles west of Lowestoft, 19 miles south-east of Norwich and 33 north-east of Ipswich
Roads: A146, A143
Rail: Beccles Railway Station
Air: Norwich International Airport

Situation

Tenure

Freehold.

Description

The property comprises five ground floor retail units. Units 1 & 3 benefit from additional first floor accommodation. Unit 1 (Fat Face) has a return frontage to the pedestrianised Manor House Lane.

VAT

VAT is applicable to this lot.

Planning

The property may benefit from future redevelopment for a variety of uses, subject to necessary consents/permissions and the current tenancies. Interested Parties are referred to East Suffolk Council - www.eastsuffolk.gov.uk - 0333 016 2000

Completion Period

6 week Completion

EPC

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

Description

The property comprises five ground floor retail units. Units 1 & 3 benefit from additional first floor accommodation. Unit 1 (Fat Face) has a return frontage to the pedestrianised Manor House Lane.

VAT

VAT is applicable to this lot.

Planning

Completion Period

6 week Completion

EPC

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

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx sq m)	Floor Areas (Approx sq ft)	Tenant	Term	Rent p.a.x.	Reversion
1	Ground First	Retail Ancillary	90.00 sq m 87.16 sq m	(969 sq ft) (938 sq ft)	FAT FACE HOLDINGS LIMITED (1)	15 years from 17/03/2009 until 16/03/2024	£50,000	(16/03/2024)
2	Ground	Retail	105.04 sq m	(1,130 sq ft)	HOLLAND & BARRETT RETAIL LIMITED (2)	15 years from 12/03/2009 until 11/03/2024	£36,000	(11/03/2024)
3	Ground First	Retail Retail	157.31 sq m 110.40 sq m	(1,693 sq ft) (1,188 sq ft)	ANGLING DIRECT LIMITED (3) with guarantee	Approx. 13 years 2 months from 28/04/2011 until 12/06/2024	£32,500	(12/06/2024)
4	Ground	Retail	461.25 sq m	(4,965 sq ft)	ICELAND FOODS LIMITED (4)	15 years from 01/07/2013 until 30/06/2028 (5)	£77,500	(3006/2028)
5	Ground	Retail	332.23 sq m	(3,576 sq ft)	VACANT	-	-
Total			1,344.39 sq m	(14,460 sq ft)			£196,000

(1) For the year ending 29/05/2021, Fat Face Holdings Limited reported a turnover of £9,855,000, pre-tax profits of £7,624,000 and shareholders equity of £69,9151,000. (Source: Northrow 02/02/2022)
(2) For the year ending 30/09/2020, Holland & Barratt Retail Limited reported a turnover of £413,639,000, pre-tax profits of £5,749,000 and shareholders equity of £307,466,000 (Source: Northrow 02/02/2022)
(3) Angling Direct has a large online business and is rated as the number 1 fishing tackle shop online in the UK. (Source: www.anglingdirect.co.uk 02/02/2022). The lease is guaranteed by Hillages Limited with a Shareholders Funds of £2,198,169 for the year ended 31/01/2021. (Source: Companies House)
(4) For the year ending 26/03/2021, Iceland Foods Limited reported a turnover of £3,715,300,000, pre-tax profits of £73,100,000 and shareholders equity of £271,700,000 (Source: Northrow 02/02/2022)
(5) The lease to Iceland Foods Limited provides an option to determine on the tenth anniversary of the term.

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.