Prominent corner position close to Marks & Spencer, Tesco Express, Iceland, Peacocks, B&M, Superdrug, Boots the Chemist, Starbucks, Greggs and Sports Direct
Prominent corner position close to Marks & Spencer, Tesco Express, Iceland, Peacocks, B&M, Superdrug, Boots the Chemist, Starbucks, Greggs and Sports Direct
Lot 30
Auction 18th May 2023
Rent £28,500 per Annum Exclusive
Status Sold
Price £270,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
10 miles south of Great Yarmouth, 27 miles south-east of Norwich
Roads
A11, A12, A146, M11
Rail
Lowestoft Railway Station
Air
Norwich International Airport
Situation
The property is prominently situated on London Road North, Lowestoft's prime pedestrianised retailing thoroughfare. The property benefits from being 300 metres from Lowestoft Railway Station. Nearby occupiers include Marks & Spencer, Tesco Express, Iceland, B&M, Superdrug, Boots the Chemist, Starbucks, Greggs and Sports Direct.
Tenure
Freehold.
Location
Miles
10 miles south of Great Yarmouth, 27 miles south-east of Norwich
Roads
A11, A12, A146, M11
Rail
Lowestoft Railway Station
Air
Norwich International Airport
Situation
The property is prominently situated on London Road North, Lowestoft's prime pedestrianised retailing thoroughfare. The property benefits from being 300 metres from Lowestoft Railway Station. Nearby occupiers include Marks & Spencer, Tesco Express, Iceland, B&M, Superdrug, Boots the Chemist, Starbucks, Greggs and Sports Direct.
Tenure
Freehold.
Description
The property comprises a shop arranged on the ground, first and second floors.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D
Description
The property comprises a shop arranged on the ground, first and second floors.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Rent Review
Ground First Second
Retail/Ancillary Ancillary Ancillary
112.37 91.90 22.00
(1,210) (989) (237)
AVERTEC LIMITED (2) (t/a O2)
10 years from 17/04/2019 on a full repairing and insuring lease
£28,500
17/04/2024
Total
226.27
(2,436)
£28,500
(1) Areas provided by VOA (www.gov.uk/find-business-rates) (2) Avertec Limited are an O2 franchisee operating in the UK and established in 2007 (www.avertec.co.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.
