Entirely let to Associated British Foods until February 2025
Entirely Sublet to B&M Retail Limited t/a B&M
Substantial Building Comprising approximately 19,471 sq ft
Pedestrianised Town Centre Location on the Main Shopping Street
Close to the Sovereign Shopping Centre
Nearby Occupiers Include Boots the Chemist, JD Sports, Poundland, Costa Coffee, Holland & Barrett, Barclays Bank, Greggs and McDonald's
Lot 15
Auction 15th December 2022
Rent £294,000 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
21 miles south-west of Bristol
Roads
A370, M5
Rail
Weston-Super- Mare Railway Station
Air
Bristol Airport
Situation
The property is located on the east side of the busy pedestrianised High Street, a short walk from The Sovereign Shopping Centre, with nearby retailers including Boots the Chemist, JD Sports, Poundland, Costa Coffee, Holland & Barrett, Barclays Bank, Greggs and McDonald's.
Tenure
Freehold.
Location
Miles
21 miles south-west of Bristol
Roads
A370, M5
Rail
Weston-Super- Mare Railway Station
Air
Bristol Airport
Situation
The property is located on the east side of the busy pedestrianised High Street, a short walk from The Sovereign Shopping Centre, with nearby retailers including Boots the Chemist, JD Sports, Poundland, Costa Coffee, Holland & Barrett, Barclays Bank, Greggs and McDonald's.
Tenure
Freehold.
Description
The property, a substantial and prominent two storey building comprises ground floor retail accommodation with ancillary accommodation on the first floor. The property has been sublet in its entirety to B&M Retail Limited, trading as B&M and benefits from rear loading via North Street. The property may be suitable for re-development subject to consents.
VAT
VAT is applicable to this lot.
Completion Period
25 Working Days
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a substantial and prominent two storey building comprises ground floor retail accommodation with ancillary accommodation on the first floor. The property has been sublet in its entirety to B&M Retail Limited, trading as B&M and benefits from rear loading via North Street. The property may be suitable for re-development subject to consents.
VAT
VAT is applicable to this lot.
Completion Period
25 Working Days
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/First
Retail/Ancillary
1,809.00
(19,471)
ABF Investments PLC (1) currently t/a B&M
7 years and 9 months from 01/05/2017 (2)
£294,000
01/02/2025
Substation
Western Power Distribution Limited
99 years from 01/12/1967
Total Approximate Floor Area
1,809.00
(19,471) (3)
£294,000
(1) For the year ending 18/09/2021 ABF Investments PLC reported a net worth of £2,912,000,000. (NorthRow 17/11/2022). ABF Investments PLC are part of Associated British Foods Plc, a British multinational food processing and retailing company which includes brands such as Primark, Ryvita, Jordans and Twinings (www.abf.co.uk). (2) The property has been sublet to B&M Retail Limited for a term of years from 08/10/2018 until 28/01/2025. (3) 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.
