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
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.
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.
