Recently renewed 5-year lease to Savers Health and Beauty Limited
Lease expires November 2028 (subject to option)
Approximately 5,000 sq ft
Prominent town centre location
Nearby occupiers include Lidl, Morrisons, Iceland Supermarket, McDonald's, Domino's, Costa Coffee and Boots Pharmacy
VAT-free investment
Lot 21
Auction 15th February 2024
Rent Gross: £26,000 per Annum Exclusive
Status Sold
Price £261,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
4 miles west of Southend-on-Sea, 36 miles east of Central London
Roads
A13, A127, A130, M25 (Junction 29)
Rail
Leigh-on-Sea & Benfleet Train Stations
Air
London Southend Airport, London City Airport
Situation
The property is prominently situated on the north side of London Road (A13), close to its junction with Rectory Road, in the heart of Hadleigh town centre. Nearby occupiers include Lidl, Morrisons, Iceland Supermarket, McDonald's, Domino's, Costa Coffee and Boots Pharmacy.
Tenure
Leasehold. for a term of 99 years from 24th June 1956 at a fixed ground rent of £100 per annum.
Location
Miles
4 miles west of Southend-on-Sea, 36 miles east of Central London
Roads
A13, A127, A130, M25 (Junction 29)
Rail
Leigh-on-Sea & Benfleet Train Stations
Air
London Southend Airport, London City Airport
Situation
The property is prominently situated on the north side of London Road (A13), close to its junction with Rectory Road, in the heart of Hadleigh town centre. Nearby occupiers include Lidl, Morrisons, Iceland Supermarket, McDonald's, Domino's, Costa Coffee and Boots Pharmacy.
Tenure
Leasehold. for a term of 99 years from 24th June 1956 at a fixed ground rent of £100 per annum.
Description
The property comprises a large shop arranged on the ground and first floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See Legal Pack
Description
The property comprises a large shop arranged on the ground and first floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See Legal Pack
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
Ground First
Retail/Ancillary Ancillary
263.37 201.12
(2,835) (2,165)
SAVERS HEALTH AND BEAUTY LIMITED (1)
5 years from 17/11/2023 (2) on a full repairing and insuring lease
£26,000
Total
464.49
(5,000)
£26,000
(1) For the year ending 31/12/2022, Savers Health and Beauty Limited reported a turnover of £672,630,000, a pre-tax profit of £47,019,000 and a net worth of £55,058,000 (www.northrow.com) (2) The lease is subject to a tenant option to determine on 17/11/2026.
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.
