Busy town centre location close to Guineas Shopping Centre
Nearby occupiers include Pizza Express, Starbucks, Argos, B&M, Greggs, and Boots
VAT Free Investment
Lot 23
Auction 15th February 2024
Rent £38,000 per Annum Exclusive
Status Sold
Price £387,000
Sector High Street Retail, Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
13 miles east of Cambridge, 30 miles north of Chelmsford
Roads
A11, A14, M1, M11
Rail
Newmarket Railway Station
Air
London Stansted Airport
Situation
Newmarket is an affluent and historic Suffolk market town, internationally renowned for its strong connections with the horse racing industry being the home of the Jockey Club.
The property is situated on the pedestrianised Market Street, a busy retailing thoroughfare connecting the High Street to the Guineas Shopping Centre housing tenants such as B&M, Mountain Warehouse, Argos, Clarks, Cardfactory and Costa. Other neighbouring occupies include Pizza Express, Starbucks, Greggs, and Boots.
Tenure
Freehold.
Location
Miles
13 miles east of Cambridge, 30 miles north of Chelmsford
Roads
A11, A14, M1, M11
Rail
Newmarket Railway Station
Air
London Stansted Airport
Situation
Newmarket is an affluent and historic Suffolk market town, internationally renowned for its strong connections with the horse racing industry being the home of the Jockey Club.
The property is situated on the pedestrianised Market Street, a busy retailing thoroughfare connecting the High Street to the Guineas Shopping Centre housing tenants such as B&M, Mountain Warehouse, Argos, Clarks, Cardfactory and Costa. Other neighbouring occupies include Pizza Express, Starbucks, Greggs, and Boots.
Tenure
Freehold.
Description
The property comprises two adjoining shops, one arranged over ground and basement with a two bedroom maisonette to the first and second floors and the other providing a single storey ground floor shop.
VAT
VAT is not applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises two adjoining shops, one arranged over ground and basement with a two bedroom maisonette to the first and second floors and the other providing a single storey ground floor shop.
VAT
VAT is not applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Address
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
10 and 10A Market Street
Ground Basement First Second
Retail Ancillary Residential Residential
54.80 28.10 - -
(589) (302) - -
HKF FOODS LTD t/a Pizza GoGo (1)
15 years from 01/01/2022 (2)
£23,000
5 yearly
10B Market Street
Ground
Retail
25.74
(277)
INDIVIDUAL t/a Remy Nails
10 years from 08/02/2018 (3)
£15,000
08/02/2023
Total Approximate Commercial Floor Area
108.64
(1,168) (4)
£38,000
(1) Pizza GoGo was established in 1987 and trade from over 100 locations across the UK (www.pizzagogo.co.uk). (2) A rent deposit of £5,750 is held by the Seller. (3) A rent deposit of £7,500 is held by the Seller. (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.
