Entirely Let to Specsavers Optical Superstores Limited Until 2032 (Subject to Option)
Attractive Market Town
Close To Norwich
Busy Town Centre Location
Nearby Occupiers Include Boots, Barclays Bank, Savers, HSBC, Co-Op, Lloyds Bank and Natwest
Lot 1
Auction 22nd September 2022
Rent £22,500 per Annum Exclusive (3)
Status Sold
Price £332,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
9 miles south-west of Norwich
Roads
A11, A47
Rail
Wymondham Abbey Railway Station
Air
Norwich International Airport, Stansted International Airport
Situation
Wymondham is an attractive and historic market town and Norwich commuter town. The property is situated in the heart of the busy and popular town centre on the north side of Market Street. Nearby occupiers include Boots, Barclays Bank, Savers, HSBC, Co-Op Convenience Store, Lloyds Bank and Natwest
Tenure
Freehold.
Location
Miles
9 miles south-west of Norwich
Roads
A11, A47
Rail
Wymondham Abbey Railway Station
Air
Norwich International Airport, Stansted International Airport
Situation
Wymondham is an attractive and historic market town and Norwich commuter town. The property is situated in the heart of the busy and popular town centre on the north side of Market Street. Nearby occupiers include Boots, Barclays Bank, Savers, HSBC, Co-Op Convenience Store, Lloyds Bank and Natwest
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation and first floor ancillary accommodation. The property benefits from the towns main car park being situated at the rear of the property.
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 ground floor retail accommodation and first floor ancillary accommodation. The property benefits from the towns main car park being situated at the rear of the property.
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 Mezanine First
Retail Storage Office/Ancillary
182.30 20.50 54.10
(1,962) (220) (582)
SPECSAVERS OPTICAL SUPERSTORES LIMITED (1)
10 years from 25/03/2022 until 2032 (2)
£22,500
24/03/2032
Total Approximate Floor Area
256.90 (4)
(2,764)
£22,500 (3)
(1) For the year ending 28/02/2021, Specsavers Optical Superstores Limited reported a turnover of £2,738,227,000, pre-tax profits of £444,617,000 and Net Worth of £216,396,000 (NorthRow 01/08/2022). (2) The lease provides for a tenant option to determine the lease on 25/03/2028. (3) The current rent reserved under the terms of the lease is £11,250 per annum exclusive until 23/09/2023. The seller will pay to the buyer difference between the current rent reserved of £11,250 p.a.x. and £22,500 p.a.x from completion of the sale until 23/09/2023. Therefore the property will produce £22,500 p.a.x. from completion of the sale. (4) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk)
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.
