72/74 Marygate Berwick-upon-Tweed Northumberland TD15 1BN

72/74 Marygate
Berwick-upon-Tweed
Northumberland
TD15 1BN

Freehold Retail Investment

Two shops let to Holland & Barrett and New Look
Shops let on renewed leases from June 2023 and September 2023
Holland & Barrett in occupation since June 2007 and New Look in occupation since 2011
Prime town centre location
Nearby occupiers include B&M, Boots the Chemist, Caffè Nero, Costa, Greggs, WHSmith and Sports Direct

Lot
40
Auction
9th May 2024
Rent
£35,600 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Live Streamed Auction

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Freehold Retail Investment

Two shops let to Holland & Barrett and New Look
Shops let on renewed leases from June 2023 and September 2023
Holland & Barrett in occupation since June 2007 and New Look in occupation since 2011
Prime town centre location
Nearby occupiers include B&M, Boots the Chemist, Caffè Nero, Costa, Greggs, WHSmith and Sports Direct

Lot 40
Auction 9th May 2024
Rent £35,600 per Annum Exclusive
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 63 miles north of Newcastle-Upon-Tyne
Roads: A1, A696, A1167, A6105
Rail: Berwick-Upon-Tweed Railway Station
Air: Newcastle International Airport

Situation

The property is prominently situated on the north side of Marygate, a prime retailing pitch, in the heart of the town centre. Nearby occupiers include B&M, Boots the Chemist, Caffè Nero, Costa, Greggs, WHSmith and Sports Direct.

Tenure

Freehold.

Location

Miles: 63 miles north of Newcastle-Upon-Tyne
Roads: A1, A696, A1167, A6105
Rail: Berwick-Upon-Tweed Railway Station
Air: Newcastle International Airport

Situation

Tenure

Freehold.

Description

The property comprises two adjoining shops arranged on the ground and first floors. The first floor provides ancillary accommodation and is accessed via an external ladder to the rear of the property.

VAT

VAT is applicable to this lot.

Note

Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Note

Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

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.
72 (& part 74) Marygate	Ground First	Retail Ancillary	187.94 66.43	(2,023) (715)	NEW LOOK RETAILERS LIMITED (1)	5 years from 14/09/2023 (2)	£20,000
74 Marygate	Ground	Retail/Ancillary	116.69	(1,256)	HOLLAND & BARRETT RETAIL LIMITED (3)	3 years from 24/06/2023	£15,600
Total			371.06	(3,994)			£35,600

(1) New Look Retailers Limited were incorporated in 1982 and now trade from over 364 stores across the UK (www.newlookgroup.com)
(2) The lease is subject to a tenant option to determine on 14/09/2026.
(3) For the year ending 30/09/2022, Holland & Barrett Retail Limited reported a turnover of £536,257,000, a pre-tax loss of £31,528,000 and a net worth of £246,602,000 (www.northrow.com).

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.