Prominent Freehold Retail and Residential Investment
Main road corner location facing Rosehill Retail Park
Shop let to Johnsons Cleaners UK Limited with guarantee from Timpson Limited
Lease expires June 2030 (subject to option)
Includes valuable on-site customer parking for 6 cars
Includes two separately-accessed 1-bed flats above let on AST's
Same residential tenants occupying since 2017 & 2019
VAT-free investment
Opposite Rosehill Retail Park where nearby occupiers include Aldi, Bargain Buys and Greggs with 160 space car park
Lot 25
Auction 9th May 2024
Rent £37,300 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail, Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
19 miles north-east of Colchester, 54 miles south-east of Cambridge
Roads
A12, A14, A137, A1156
Rail
Derby Road Railway Station, Ipswich Railway Station
Air
London Stansted Airport
Situation
The property is prominently situated on the corner of Felixstowe Road (A1156), at its junction with Hatfield Road, opposite Rosehill Retail Park in the predominantly residential suburb of Rosehill. Nearby occupiers include Aldi, Bargain Buys, Greggs and British Heart Foundation.
Tenure
Freehold.
Location
Miles
19 miles north-east of Colchester, 54 miles south-east of Cambridge
Roads
A12, A14, A137, A1156
Rail
Derby Road Railway Station, Ipswich Railway Station
Air
London Stansted Airport
Situation
The property is prominently situated on the corner of Felixstowe Road (A1156), at its junction with Hatfield Road, opposite Rosehill Retail Park in the predominantly residential suburb of Rosehill. Nearby occupiers include Aldi, Bargain Buys, Greggs and British Heart Foundation.
Tenure
Freehold.
Description
The property comprises a shop arranged on the ground floor, and two separately-accessed 1-bed flats arranged on the first and second floors. The shop benefits from 6 car parking spaces to the side/rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D (shop)
Description
The property comprises a shop arranged on the ground floor, and two separately-accessed 1-bed flats arranged on the first and second floors. The shop benefits from 6 car parking spaces to the side/rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D (shop)
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground
Retail/Ancillary
96.33
(1,037)
JOHNSON CLEANERS UK LIMITED with a guarantee from TIMPSON LIMITED (1)
10 years from 12/06/2020 (2)
£25,000
First/Second (Flat 1)
Residential - 1 bed flat
-
-
AN INDIVIDUAL
AST from 12/04/2019 at £515 pcm
£6,180
First/Second (Flat 2)
Residential - 1 bed flat
-
-
AN INDIVIDUAL
AST from 08/03/2017 at £510 pcm
£6,120
Total Commercial Area
96.33
(1,037)
£37,300
(1) Johnsons Cleaners, a part of Timpson Limited, have been trading for over 200 years and operate from over 200 stores across the UK (www.timpson-group.co.uk). For the year ending 01/10/2022, Timpson Limited reported a turnover of £182,927,000, a pre-tax profit of £24,723,000 and a net worth of £118,642,000 (www.northrow.com). (2) The lease is subject to a tenant only option to determine on 12/06/2025.
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.
