Entirely Let to Holland & Barrett Retail Limited on a New Lease from June 2022 at a Rebased Rent
Tenant in Occupation Since 1986
Comprising Ground, First and Second Floors
Return Frontage to Broad Street
Popular Retailing Location
Nearby Occupiers Include Marks & Spencer, Vodafone, Specsavers, WH Smith and Waterstones
Lot 7
Auction 22nd September 2022
Rent £22,500 per Annum Exclusive
Status Sold
Price £350,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
36 miles north-east of Peterborough, 43 miles west of Norwich
Roads
A10, A17, A47
Rail
King’s Lynn Railway Station (direct to London King’s Cross)
Air
London Stansted Airport
Situation
The property is prominently located in a corner position on the south side of Norfolk Street, a busy pedestrianised retailing thoroughfare, at its junction with Broad Street. Neighbouring occupiers include Marks and Spencer, Vodafone, The Works, Specsavers, WH Smith, CEX and Waterstones.
Tenure
Freehold.
Location
Miles
36 miles north-east of Peterborough, 43 miles west of Norwich
Roads
A10, A17, A47
Rail
King’s Lynn Railway Station (direct to London King’s Cross)
Air
London Stansted Airport
Situation
The property is prominently located in a corner position on the south side of Norfolk Street, a busy pedestrianised retailing thoroughfare, at its junction with Broad Street. Neighbouring occupiers include Marks and Spencer, Vodafone, The Works, Specsavers, WH Smith, CEX and Waterstones.
Tenure
Freehold.
Description
The property comprises retail accommodation on the ground floor which benefits from dual frontage on to Broad Street and Norfolk Street with ancillary accommodation on the first floor. The second floor provides ancillary accommodation with access via a hatch on the first floor.
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 comprises retail accommodation on the ground floor which benefits from dual frontage on to Broad Street and Norfolk Street with ancillary accommodation on the first floor. The second floor provides ancillary accommodation with access via a hatch on the first floor.
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.
Ground First Second
Retail Ancillary Ancillary
128.76 120.86 -
(1,386) (1,301) -
HOLLAND & BARRETT RETAIL LIMITED (1)
3 years from 01/06/2022
£22,500
Total Approximate Floor Area
242.40
(2,607) (2) (3)
£22,500
(1) For the year ending 30/09/2021 Holland & Barrett Retail Limited reported a Turnover of £528,592,000, a Pre-Tax Profit of £43,626,000 and a Net Worth of £274,434,000. (NorthRow 22/08/2022) Holland & Barrett is is one of the world’s leading health and wellness retailers and the largest in Europe trading from over 1,300 locations in 16 countries (www.hollandandbarrett.com). The tenant has been in occupation since 1986 and have recently signed a new lease commencing June 2022 at a rebased rent. (2) The floor areas stated above have been provided by the Vendor. (3) Access to the second floor is via hatch only and therefore no indicative floor areas have been provided.
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.
