Freehold Retail and Residential Ground Rent Investment
Retail unit Let to DEBRA until 2029 (subject to option)
Affluent and historic market town
Excellent trading location in town centre
Nearby occupiers include Toni and Guy, Natwest, Lloyds Bank, Greggs, Timpson and Oxfam
Lot 1
Auction 2nd November 2023
Rent £25,200 per Annum Exclusive rising to £30,000 in May 2024 (3)
Status Sold
Price £252,000
Sector High Street Retail
Auction Venue Live Streamed Auction
On Behalf of Joint LPA Receivers
Property Information
Location
Miles
20 miles west of Ipswich, 15 miles north-west of Colchester, 37 miles south-east of Cambridge, 67 miles from London
Roads
A131, A134
Rail
Sudbury Railway Station
Air
London Stansted Airport
Situation
Sudbury is an affluent and historic market town. By rail it links with London's Liverpool Street station (1 hour 28 minutes) and is 32 miles from London Stansted Airport. The property occupies an excellent trading location on Market Hill, adjacent to King Street (A131). Nearby occupiers include Toni and Guy, Natwest, Lloyds Bank, Greggs, Timpson and Oxfam.
Tenure
Freehold.
Location
Miles
20 miles west of Ipswich, 15 miles north-west of Colchester, 37 miles south-east of Cambridge, 67 miles from London
Roads
A131, A134
Rail
Sudbury Railway Station
Air
London Stansted Airport
Situation
Sudbury is an affluent and historic market town. By rail it links with London's Liverpool Street station (1 hour 28 minutes) and is 32 miles from London Stansted Airport. The property occupies an excellent trading location on Market Hill, adjacent to King Street (A131). Nearby occupiers include Toni and Guy, Natwest, Lloyds Bank, Greggs, Timpson and Oxfam.
Tenure
Freehold.
Description
The property comprises a ground and lower ground floor retail unit with two self contained maisonettes on the upper two floors. The residential accommodation has been sold off on long leases.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint LPA Receivers and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Receivers are acting without personal liability. The Receivers are not bound to accept the highest or any offer.
NB: Notices pursuant to Section 5B of the Landlord & Tenant Act 1987 have been served on the residential tenants.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground and lower ground floor retail unit with two self contained maisonettes on the upper two floors. The residential accommodation has been sold off on long leases.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint LPA Receivers and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Receivers are acting without personal liability. The Receivers are not bound to accept the highest or any offer.
NB: Notices pursuant to Section 5B of the Landlord & Tenant Act 1987 have been served on the residential tenants.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground Basement
Retail Ancillary
129.50 -
(1,383) -
DEBRA (1)
6 years from 11/05/2023 (2)
£25,000 rising to £30,000 on 12/05/2024 (3)
12/05/2024 (3)
First/Second
Residential
-
-
INDIVIDUAL
150 years from 13/12/2007
£100
First/Second
Residential
-
-
INDIVIDUAL
150 years from 14/07/2008
£100
Total Approximate Commercial Floor Area
129.50
(1,383) (4)
£25,200
(1) DEBRA is a national charity and patient support organisation for people living with the rare, extremely painful, genetic skin blistering condition, Epidermolysis Bullosa (EB). Debra operate from 96 stores across the UK (www.debra.org.uk). (2) The lease provides for a tenant option to determine the lease on 12/05/2026 upon serving 6 months written notice. (3) The lease provides for a fixed rental increase to £30,000 per annum exclusive on 12/05/2024. (4) The commercial floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.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.
