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
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.
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
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.
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.
