58 High Street Strood Kent ME2 4AR

58 High Street
Strood
Kent
ME2 4AR

Freehold Retail Investment

Let to Specsavers Optical Superstores Limited until 2028
Comprises a Retail unit and 2 flats
Specsavers Jan 2023 break option not exercised
Prime trading position on busy High Street
Adjacent to the Towns main Car park
26 Miles from the City of London
Nearby occupiers include Iceland, Boots, Natwest and Starbucks

Lot
4
Auction
16th February 2023
Rent
£26,100 per Annum Exclusive
Status
Sold
Price
£365,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Important Update

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Freehold Retail Investment

Let to Specsavers Optical Superstores Limited until 2028
Comprises a Retail unit and 2 flats
Specsavers Jan 2023 break option not exercised
Prime trading position on busy High Street
Adjacent to the Towns main Car park
26 Miles from the City of London
Nearby occupiers include Iceland, Boots, Natwest and Starbucks

Lot 4
Auction 16th February 2023
Rent £26,100 per Annum Exclusive
Status Sold
Price £365,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 8 Miles North of Maidstone, 28 Miles South-East of Central London
Roads: M25, M2, A2, A228
Rail: Strood Railway Station, Rochester Railway Station
Air: London City Airport, London Gatwick Airport, London Southend Airport

Situation

The property is situated in a strong trading position on the on the north side of the busy High Street (A2) close to the busy traffic light junction with Station Road. Nearby occupiers include Iceland, Boots, Nat West , B&M and Starbucks.

Tenure

Freehold.

Location

Miles: 8 Miles North of Maidstone, 28 Miles South-East of Central London
Roads: M25, M2, A2, A228
Rail: Strood Railway Station, Rochester Railway Station
Air: London City Airport, London Gatwick Airport, London Southend Airport

Situation

Tenure

Freehold.

Description

The property comprises Self contained retail accommodation on the ground floor with ancillary accommodation on part of the first floor and 2 x self contained flats on the upper floors. The property benefits from the towns main car park being situated at the rear of the property providing approximately 80 spaces.

VAT

VAT is not applicable to this lot.

Note

As to the residential flats, the tenants have been served notice pursuant to Section 5B of the Landlord and Tenant Act 1987 to accept the offer, the tenants had until 1st November 2022 to respond to the notices. As no tenants have responded to the notices within the timeframe (or not at all), the tenants are not able to exercise their rights of pre-emption on this sale.

EPC

Retail - D Residential x2 - E

Description

VAT

VAT is not applicable to this lot.

Note

EPC

Retail - D Residential x2 - E

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx sq m)	Floor Areas (Approx sq ft)	Tenant	Term	Rent p.a.x.	Rent Review (Reversions)
Ground First (Part)	Retail and Ancillary	71.82	(773)	SPECSAVERS OPTICAL SUPERSTORES LIMITED (CRN 01721624) (1) (t/a Specsavers)	10 Years until 11/01/2028 (2)	£26,000	12/01/2023 (10/01/2038)
First (Part) and Second	2x Residential Flats	Not measured	Not measured	INDIVIDUALS	Each flat is let for a term of 125 Years and 4 days from 30/04/2007	£100	(29/4/2132)
Total Approximate Commercial Floor Area		71.82	(773) (3)			£26,100

(1) Specsavers have been a family-run business for over 35 years and provide the best value optometry, audiology and other healthcare service. They trade from the UK, Ireland, Netherlands, Norway, Sweden, Denmark, Finland, Spain, Australia and New Zealand, employing over 38,000 people who work across 2,293 stores (Source: Specsavers.co.uk 10/08/2022).
For the year ending 28th February 2022, Specsavers Optical Superstores Limited reported a turnover of £3,354,820,000 , a pre-tax profit of £445,957,000 and Net worth of £262,352,000. (Source: NorthRow Company Report 08/11/2022)
(2) As to the retail unit the tenant did not exercise the tenant option to determine the lease on 11/01/2023.
(3) The floor areas stated above are those published by the Valuation Office Agency (www.Gov.UK/find-business-rates)

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.