Two shops let to Brook Taverner Limited and The Danish Wardrobe Company Limited
Brook Taverner lease expires December 2029 (3) - recent tenant break option not exercised
Danish Wardrobe lease expires December 2028 (no breaks)
Affluent Cotswold market town
Nearby retailers include M&S Simply Food, Caffè Nero, WHSmith, Joules, Crew Clothing, Accessorize and Clarks
Lot 4
Auction 30th March 2023
Rent £68,000 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
On Behalf of a Real Estate Investment Trust
Property Information
Location
Miles
17 miles north-west of Swindon, 29 miles south-east of Gloucester, 36 miles north-east of Bristol
Roads
A417, A419, A429, A433, M4(J15), M5 (J13)
Rail
Kemble Rail
Air
Bristol International Airport
Situation
Cirencester is an affluent, historic market town well situated between the M4 (J15) and M5 (J13). The property is located close to Market Place, Cirencester's primary retailing street which is open to popular, weekly farmers markets. Nearby retailers include M&S Simply Food, Caffè Nero, WHSmith, Knight Frank, Savills, Joules, Crew Clothing, Accessorize and Clarks.
Tenure
Virtual Freehold. Held for a term of 999 years from 1st January 2006 at a peppercorn rent.
Location
Miles
17 miles north-west of Swindon, 29 miles south-east of Gloucester, 36 miles north-east of Bristol
Roads
A417, A419, A429, A433, M4(J15), M5 (J13)
Rail
Kemble Rail
Air
Bristol International Airport
Situation
Cirencester is an affluent, historic market town well situated between the M4 (J15) and M5 (J13). The property is located close to Market Place, Cirencester's primary retailing street which is open to popular, weekly farmers markets. Nearby retailers include M&S Simply Food, Caffè Nero, WHSmith, Knight Frank, Savills, Joules, Crew Clothing, Accessorize and Clarks.
Tenure
Virtual Freehold. Held for a term of 999 years from 1st January 2006 at a peppercorn rent.
Description
The property comprises two shops arranged on the ground floor only, forming part of a larger building.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
See Legal Pack
Description
The property comprises two shops arranged on the ground floor only, forming part of a larger building.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
See Legal Pack
Tenancy & Accommodation
Address
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Rent Review
6 Dyer Street
Ground
Retail/Ancillary
143.90
(1,549)
BROOK TAVERNER LIMITED (2)
10 years from 06/12/2019 (3)
£37,000
06/12/2024
8 Dyer Street
Ground
Retail/Ancillary
88.40
(952)
THE DANISH WARDROBE COMPANY LIMITED (t/a Danish Wardrobe) (4)
10 years from 21/12/2018
£31,000
21/12/2023
Total
232.30
(2,501)
£68,000
(1) Areas provided by VOA (www.gov.uk/find-business-rates) (2) For the year ending 31st December 2021, Brook Taverner Limited reported an annual turnover of £29,785,395, a pre-tax profit of £3,075,577 and a net worth of £8,506,609 (www.northrow.com). They trade from 10 shops in the UK, branches including Stratford-upon-Avon, Northallerton, Stamford, Bury St Edmunds and Windsor (www.brooktaverner.co.uk). (3) The lease is subject to a tenant only option to determine on 06/12/2025. The tenant did not exercise their recent break option on 06/12/2022. (4) The Danish Wardrobe Company Limited are a multi-branded retailer that offer a diverse range of womenswear. They have been trading in Cirencester since August 2006 and also trade from another branch in Leamington Spa (www.mydanishwardrobe.com).
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.
