Extensive Town Centre Freehold with Future Asset Management Opportunites
Supermarket in central Clacton-on-Sea comprising 2,864.60 sq m (30,835 sq ft) on a site area of 0.36 Ha (0.89 Acres)
Let to Sainsbury's Supermarkets Ltd until July 2023 (not currently in occupation)
Strategic position on the High Street with extensive frontage and vehicular access via Carnarvon Road (A133)
Adjacent to a Council owned car park providing 300 spaces and to the retail pitches of Station Road, Pier Avenue and Clacton Railway Station
The building could be suitable for future redevelopment or alternative uses (subject to necessary consents)
Lot 15
Auction 18th May 2022
Rent £355,000 per Annum Exclusive
Status Sold
Price £1,405,000
Sector Supermarket/Convenience
Auction Venue Live Streamed Auction
On Instructions of a Fund Manager
Property Information
Location
Miles
16 miles south-east of Colchester
70 miles north-east of Central London
Roads
A133, A120, A12
Rail
Clacton-on-Sea
Air
London Southend
Situation
Clacton-on-Sea is a popular seaside resort on the Tendring peninsular and is the largest town on the Essex coast, 16 miles south-east of Colchester and 70 miles north-east of Central London. The property occupies a substantial site on the north side of High Street, opposite its junction with Beach Road which provides primarily residential dwellings. Additional access to the property can be obtained from Carnarvon Road which neighbours the 300 space Council owned car park. Nearby retailers include Post Office, Sports Direct, ATS and HSBC.
Tenure
Freehold.
Location
Miles
16 miles south-east of Colchester
70 miles north-east of Central London
Roads
A133, A120, A12
Rail
Clacton-on-Sea
Air
London Southend
Situation
Clacton-on-Sea is a popular seaside resort on the Tendring peninsular and is the largest town on the Essex coast, 16 miles south-east of Colchester and 70 miles north-east of Central London. The property occupies a substantial site on the north side of High Street, opposite its junction with Beach Road which provides primarily residential dwellings. Additional access to the property can be obtained from Carnarvon Road which neighbours the 300 space Council owned car park. Nearby retailers include Post Office, Sports Direct, ATS and HSBC.
Tenure
Freehold.
Description
The property comprises a two storey building extending to 30,835 sq ft, providing ground floor retail accommodation with ancillary on the first and second floors. The store is rectangular in shape and benefits from a large service yard and separate staff parking.
The property may benefit from future redevelopment for a variety of uses including residential, subject to necessary consents/permissions. Interested parties should contact the local planning authority with further queries.
VAT
VAT is applicable to this lot.
Planning
Tendring District Council
Tel: 01255 686868
https://www.tendringdc.gov.uk/planning
Town Hall, Station Road, Clacton-on-Sea, Essex, CO15 1SE
Completion Period
6 week completion available.
EPC
Please see the legal pack.
Description
The property comprises a two storey building extending to 30,835 sq ft, providing ground floor retail accommodation with ancillary on the first and second floors. The store is rectangular in shape and benefits from a large service yard and separate staff parking.
The property may benefit from future redevelopment for a variety of uses including residential, subject to necessary consents/permissions. Interested parties should contact the local planning authority with further queries.
VAT
VAT is applicable to this lot.
Planning
Tendring District Council
Tel: 01255 686868
https://www.tendringdc.gov.uk/planning
Town Hall, Station Road, Clacton-on-Sea, Essex, CO15 1SE
Completion Period
6 week completion available.
EPC
Please see the legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx sq m)
Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
Ground First Second
Retail Ancillary Ancillary
1,728.60 1,064.40 72.60
(18,607) (11,457) (771)
Sainsbury’s Supermarkets Ltd (on assignment Somerfield Property Company Limited) (2)
35 years expiring 24/07/2023
£355,000
Total (1)
2,864.60
(30,835)
£355,000
(1) The Gross Internal Areas (GIA) above were the agreed areas from the 2013 rent review settled by arbitration. (2) The tenant is not currently in occupation.
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.
-1600x900.jpg)
-128x72.jpg)
.jpg){kind=link}
