14/16 London Road Bognor Regis West Sussex PO21 1PY

14/16 London Road
Bognor Regis
West Sussex
PO21 1PY

Prime Freehold Retail Investment

Let to Superdrug Stores plc
New 5 year lease (renewal) from August 2022 (subject to option)
Re-based rent (previously let at £83,500 p.a.)
Store includes Pharmacy
Tenant committed to refurbishment and partial store re-fit (1)
Approximately 6,895 sq ft
Nearby occupiers include WHSmith, Specsavers, Boots the Chemist, Greggs, Costa, JD Sports and Wilko

Lot
4
Auction
15th December 2022
Rent
£50,000 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Prime Freehold Retail Investment

Let to Superdrug Stores plc
New 5 year lease (renewal) from August 2022 (subject to option)
Re-based rent (previously let at £83,500 p.a.)
Store includes Pharmacy
Tenant committed to refurbishment and partial store re-fit (1)
Approximately 6,895 sq ft
Nearby occupiers include WHSmith, Specsavers, Boots the Chemist, Greggs, Costa, JD Sports and Wilko

Lot 4
Auction 15th December 2022
Rent £50,000 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 6 miles south-east of Chichester, 26 miles west of Brighton
Roads: A259, A27, A3
Rail: Bognor Regis Train Station
Air: London Gatwick

Situation

The property is located on the west side of the pedestrianised London Road, Bognor Regis' prime retailing thoroughfare. Nearby occupiers include WHSmith, Specsavers, Boots the Chemist, Greggs, Costa, JD Sports and Wilko. The town's main shoppers car park and a large Morrisons Supermarket are located immediately to the rear of the property.

Tenure

Freehold.

Location

Miles: 6 miles south-east of Chichester, 26 miles west of Brighton
Roads: A259, A27, A3
Rail: Bognor Regis Train Station
Air: London Gatwick

Situation

Tenure

Freehold.

Description

The property comprises a large shop arranged on the ground and first floors, to include a Pharmacy.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C

Description

The property comprises a large shop arranged on the ground and first floors, to include a Pharmacy.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.
Ground First	Retail/Ancillary Ancillary	399.11 241.46	(4,296) (2,599)	SUPERDRUG STORES PLC (t/a Superdrug) (2)	5 years from 12/08/2022 (3) on a full repairing and insuring lease	£50,000
Total		640.57	(6,895)			£50,000

(1) As part of the recent lease renewal negotiations, Superdrug have agreed to enter into a refurbishment and partial store re-fit of the property and will be investing in excess of £130,000 into the property.
(2) Superdrug Stores plc currently operate in over 750 stores across the UK (www.superdrug.com) - a part of A.S. Watson Group of Companies. For the year to 01/2021, Superdrug Stores plc reported a turnover of £1.16 billion, pre-tax profits of £45.28 million and shareholders funds of £345.4 million. (www.northrow.com)
(3) The lease is subject to a tenant only option to determine on 12/08/2025. If the tenant operates the break clause, a 6 month rent penalty is payable to the landlord.

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.