New 5 year lease renewal from September 2022 (subject to option) (2)
Approximately 4,043 sq ft
Close proximity to Arc Shopping Centre
Nearby occupiers include Marks & Spencer, Tesco Express, Sports Direct, JD Sports, Superdrug, Boots the Chemist, The Body Shop, Holland & Barrett and H. Samuel
New 5 year lease renewal from September 2022 (subject to option) (2)
Approximately 4,043 sq ft
Close proximity to Arc Shopping Centre
Nearby occupiers include Marks & Spencer, Tesco Express, Sports Direct, JD Sports, Superdrug, Boots the Chemist, The Body Shop, Holland & Barrett and H. Samuel
Lot 23
Auction 30th March 2023
Rent £85,000 per Annum Exclusive
Status Sold
Price £850,000
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 occupies one of the finest trading locations on the western side of Cornhill, within close proximity to Arc Shopping Centre where retailers include Pandora, Clarks, Crew Clothing, H&M, Superdry, River Island, Byron and Nandos. Other nearby occupiers include Marks & Spencer, Tesco Express, Sports Direct, JD Sports, Superdrug, Boots the Chemist, The Body Shop, Holland & Barrett and H. Samuel.
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 occupies one of the finest trading locations on the western side of Cornhill, within close proximity to Arc Shopping Centre where retailers include Pandora, Clarks, Crew Clothing, H&M, Superdry, River Island, Byron and Nandos. Other nearby occupiers include Marks & Spencer, Tesco Express, Sports Direct, JD Sports, Superdrug, Boots the Chemist, The Body Shop, Holland & Barrett and H. Samuel.
Tenure
Freehold.
Description
The property comprises a shop arranged on the ground, basement and first floors with the property benefitting from trading at first floor level.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C
Description
The property comprises a shop arranged on the ground, basement and first floors with the property benefitting from trading at first floor level.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground Basement First
Retail Ancillary Retail/Ancillary
152.45 99.79 123.33
(1,641) (1,074) (1,328)
THE WORKS STORES LIMITED (t/a The Works) (1)
5 years from 10/09/2022 (2) on a full repairing and insuring lease
£85,000
Total
375.57
(4,043)
£85,000
(1) For the year ending 1st May 2022, The Works Stores Limited reported a turnover of £264,630,000, a pre-tax profit of £12,858,000 and a net worth of £17,878,000. (www.northrow.com) (2) The lease is subject to a tenant option to determine on 10/09/2025
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.
