Substantial Town Centre Supermarket with Self Contained Offices
Let to Cooperative Group Ltd and sublet to Iceland Foods Ltd (1)
Residential Development Potential of the Self Contained Offices (subject to consents)
Approximate Site Area of 0.1 Hectares (0.25 Acres)
Nearby Occupiers Include Costa Coffee, Sue Ryder, William H Brown Estate Agents, Subway and Lloyds Bank
Lot 20
Auction 12th July 2022
Rent £131,019 per Annum Exclusive
Status Sold Prior
Price
Sector Supermarket/Convenience
Auction Venue Live Streamed Auction
Property Information
Location
Miles
17 miles east of Peterborough, 27 miles north of Cambridge
Roads
A141, A142
Rail
March Railway Station
Air
Cambridge Airport, London Stansted Airport
Situation
March is an attractive and historic market town. The property is prominently situated on the west side of High Street (B1101) at the junction with George Street. Nearby occupiers include Costa Coffee, Sue Ryder, William H Brown Estate Agents, Subway and Lloyds Bank.
Tenure
Freehold.
Location
Miles
17 miles east of Peterborough, 27 miles north of Cambridge
Roads
A141, A142
Rail
March Railway Station
Air
Cambridge Airport, London Stansted Airport
Situation
March is an attractive and historic market town. The property is prominently situated on the west side of High Street (B1101) at the junction with George Street. Nearby occupiers include Costa Coffee, Sue Ryder, William H Brown Estate Agents, Subway and Lloyds Bank.
Tenure
Freehold.
Description
The property, a substantial building comprising a ground floor supermarket with self contained office accommodation on the first floor. The ground floor and part first floor has been sublet to Iceland Foods Limited. The first floor self contained office is currently vacant and may be suitable for residential conversion (subject to consents). The first floor self contained office is accessed by a separate entrance at the side of the property. The site benefits from an approximate site area of 0.1 Hectares (0.25 Acres) and rear access to a public car park.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a substantial building comprising a ground floor supermarket with self contained office accommodation on the first floor. The ground floor and part first floor has been sublet to Iceland Foods Limited. The first floor self contained office is currently vacant and may be suitable for residential conversion (subject to consents). The first floor self contained office is accessed by a separate entrance at the side of the property. The site benefits from an approximate site area of 0.1 Hectares (0.25 Acres) and rear access to a public car park.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Reversion
Ground First First
Retail Ancillary Office
647.90 252.51 203.45
(6,974) (2,718) (2,190)
COOPERATIVE GROUP LIMITED (CRN IP00525R) Ground and Part First sublet to Iceland Foods Limited (CRN 11074000) (1)
A term of years expiring 17/01/2025
£131,019
17/01/2025
Total Approximate Floor Area
1,103.86
(11,882)
£131,019
(1) The tenant is Somerfield Stores Limited (CRNIP031114) guaranteed by Co-Operative Group Limited (CRN IP00525R) For the year ending 02/01/2021 Co-Operative Group Limited (IP00525R) reported a turnover of £11,472,000,000, a Pre-Tax Profit of £127,000,000 and a Net Worth of £1,564,000,000. (NorthRow). Iceland Foods Limited was established in 1970 and trade from over 1,000 locations.
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.
