15 Abbeygate Street Bury St Edmunds Suffolk IP33 1UN

15 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1UN

Freehold Retail Investment

Let to Savers Health and Beauty Limited
New 5 year lease from June 2022
Re-based rent from £53,000 pax
Prominent corner town centre location
Nearby occupiers include Cote, Pizza Express, Prezzo, Bill's, Caffè Nero, Starbucks, Greggs, White Stuff and Boots

Lot
1
Auction
15th December 2022
Rent
£40,000 per Annum Exclusive
rising to £42,500 per annum exclusive in June 2024
Status
Sold
Price
£542,500
Auction Venue
Live Streamed Auction
On Behalf Of a Real Estate Investment Trust

Interested?

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Freehold Retail Investment

Let to Savers Health and Beauty Limited
New 5 year lease from June 2022
Re-based rent from £53,000 pax
Prominent corner town centre location
Nearby occupiers include Cote, Pizza Express, Prezzo, Bill's, Caffè Nero, Starbucks, Greggs, White Stuff and Boots

Lot 1
Auction 15th December 2022
Rent £40,000 per Annum Exclusive rising to £42,500 per annum exclusive in June 2024
Status Sold
Price £542,500
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On Behalf Of a Real Estate Investment Trust

Property Information

Location

Miles: 26 miles north-west of Ipswich, 28 miles east of Cambridge
Roads: A11, A14, A134, A143, M11 (Junction 10)
Rail: Bury St Edmunds Railway Station
Air: Stansted Airport

Situation

The property is situated in the heart of the town centre on the southern side of the busy pedestrianised Abbeygate Street, the towns main retailing thoroughfare. Nearby occupiers include Cote, Pizza Express, Prezzo, Bill's, Caffè Nero, Starbucks, Greggs, White Stuff and Boots the Chemist

Tenure

Freehold.

Location

Miles: 26 miles north-west of Ipswich, 28 miles east of Cambridge
Roads: A11, A14, A134, A143, M11 (Junction 10)
Rail: Bury St Edmunds Railway Station
Air: Stansted Airport

Situation

Tenure

Freehold.

Description

The property comprises a shop arranged on the ground, basement, first and second/attic floors.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion.

EPC

See legal pack.

Description

The property comprises a shop arranged on the ground, basement, first and second/attic floors.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion.

EPC

See legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (1)	Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.
Ground Basement First Second/Attic	Retail/Ancillary Ancillary Ancillary Ancillary	194.86 44.60 121.00 26.20	(2,097) (480) (1,302) (282)	SAVERS HEALTH AND BEAUTY LIMITED (2) (t/a Savers)	5 years from 17/06/2022 (3)	£40,000 (4)
Total		386.66	(4,161)			£40,000

(1) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk)
(2) Savers are one of the largest health & beauty retailers in the world with over 500 stores throughout England, Scotland, Wales and Northern Ireland (www.savers.co.uk). For the year ending 31st December 2022, Savers Health and Beauty Limited reported a turnover of £567,199,000, a pre-tax profit of £40,352,000 and shareholder funds of £127,702,000. (www.northrow.com 17/11/2022)
(3) The lease is subject to a tenant only option to determine on 17/06/2025. If the tenant exercises their break option, a rent penalty of £10,625 + VAT is paid to the landlord. If the tenant does not exercise their break option then the tenant will benefit from a rent free period from 17/06/2025 - 16/09/2025
(4) The rent is subject to a fixed rental increase to £42,500 per annum from 17/06/2024

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.