High Yielding Leasehold Retail and Residential Investment
Comprises a betting office with separately let flat above
Shop trading as Betfred (Holding Over - New Lease Agreed) (2)
Self-contained three bed flat above let on an AST from May 2023
Affluent Cotswold market town
Nearby retailers include M&S Simply Food, Caffè Nero, WHSmith, Joules, Crew Clothing, Accessorize and Clarks
Lot 29
Auction 2nd November 2023
Rent Gross: £50,975 per Annum Exclusive Net: £50,730
Status Sold
Price £266,000
Sector High Street Retail
Auction Venue Live Streamed Auction
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 Train Station
Air
Bristol International Airport
Situation
The property is located on Crickdale Street, one of Cirencester's main retailing thoroughfares, close to its junction with Market Place. Nearby retailers include M&S Simply Food, Caffè Nero, WHSmith, Joules, Crew Clothing, Accessorize and Clarks.
Tenure
Leasehold. Held for a term commencing on 30/04/2012 and expiring on 24/03/2050 at a fixed ground rent of £245 p.a.
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 Train Station
Air
Bristol International Airport
Situation
The property is located on Crickdale Street, one of Cirencester's main retailing thoroughfares, close to its junction with Market Place. Nearby retailers include M&S Simply Food, Caffè Nero, WHSmith, Joules, Crew Clothing, Accessorize and Clarks.
Tenure
Leasehold. Held for a term commencing on 30/04/2012 and expiring on 24/03/2050 at a fixed ground rent of £245 p.a.
Description
The property comprises a betting office arranged on the ground floor with a separately accessed three bed flat arranged on the first floor.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D
Description
The property comprises a betting office arranged on the ground floor with a separately accessed three bed flat arranged on the first floor.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground
Betting Office/Ancillary
116.83
(1,258)
DONE BROTHERS (CASH BETTING) LIMITED (1)
5 years from 30/04/2012 (Holding Over) (2)
£42,500 (2)
First
Residential - 3 bed flat
95.53
(1,028)
TWO INDIVIDUALS
Held on an AST for a term of 1 year from 01/05/2023
£8,475
Total
212.36
(2,286)
£50,975 (2)
(1) For the year ending 25th September 2022, Done Brothers (Cash Betting) Limited reported an annual turnover of £418,840,000, a pre-tax profit of £40,464,000 and a net worth of £77,595,000 (www.northrow.com). (2) The tenant is currently holding over on a lease that expired on 29/04/2022. A renewal of the existing lease has been agreed for a term of 5 years with no breaks at a new rent of £26,500 per annum.
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.
