2/2a Bridge Street Stratford-upon-Avon West Midlands CV37 6AB
2/2a Bridge Street Stratford-upon-Avon West Midlands CV37 6AB
Freehold Retail Investment in Historic Town
Recently let on new 10-year lease from April 2024 (No breaks)
Historic and affluent market town
Nearby retailers include Jo Malone, White Stuff, The White Company, Caffè Nero, Marks & Spencer, Holland & Barrett, McDonald's, Boots the Chemist, Superdrug and WHSmith
Recently let on new 10-year lease from April 2024 (No breaks)
Historic and affluent market town
Nearby retailers include Jo Malone, White Stuff, The White Company, Caffè Nero, Marks & Spencer, Holland & Barrett, McDonald's, Boots the Chemist, Superdrug and WHSmith
VAT-free investment
Lot 5
Auction 25th September 2024
Rent £55,000 per Annum Exclusive (3)
Status Sold Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
9 miles south-west of Warwick, 24 miles south of Birmingham
Roads
A46, A429, M40 (Junction 15)
Rail
Stratford-upon-Avon Railway Station
Air
Birmingham International Airport
Situation
Stratford-upon-Avon is an historic and affluent market town, popular with tourists due to its status as the birthplace of English playwright and poet William Shakespeare, as well as home of the Royal Shakespeare Company at the Royal Shakespeare Theatre, located very close by. The property is prominently situated in the heart of the town centre, on the south side of Bridge Street. Nearby retailers include Jo Malone, White Stuff, The White Company, Caffè Nero, Marks & Spencer, Holland & Barrett, McDonald's, Boots the Chemist, Superdrug and WHSmith.
Tenure
Freehold.
Location
Miles
9 miles south-west of Warwick, 24 miles south of Birmingham
Roads
A46, A429, M40 (Junction 15)
Rail
Stratford-upon-Avon Railway Station
Air
Birmingham International Airport
Situation
Stratford-upon-Avon is an historic and affluent market town, popular with tourists due to its status as the birthplace of English playwright and poet William Shakespeare, as well as home of the Royal Shakespeare Company at the Royal Shakespeare Theatre, located very close by. The property is prominently situated in the heart of the town centre, on the south side of Bridge Street. Nearby retailers include Jo Malone, White Stuff, The White Company, Caffè Nero, Marks & Spencer, Holland & Barrett, McDonald's, Boots the Chemist, Superdrug and WHSmith.
Tenure
Freehold.
Description
The property comprises a shop arranged on the ground and first floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band E
Description
The property comprises a shop arranged on the ground and first floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band E
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas (Approx sq ft) (1)
Tenant
Term
Rent p.a.x.
Rent Review
Ground First
Retail/Ancillary Ancillary
73.85 55.18
(795) (594)
T4 STRATFORD UPON AVON LTD (t/a T4 Tea For U) (2)
10 years from 03/04/2024 on full repairing and insuring lease
£55,000 (3)
03/04/2029 and 03/04/2034
Total
129.03
(1,389)
£55,000
(1) Areas provided by VOA (www.gov.uk/find-business-rates) (2) Tea For U is an authentically crafted Taiwanese and Bubble Tea shop, established in 2004. They are the biggest and most established premises-based Bubble Tea brand in the UK, and have stores in over 60 locations in the UK, including London, Bristol, Birmingham, Manchester, Bournemouth and Cambridge (www.t4.co.uk) (3) Under the terms of the lease, the current passing rent is £40,000 p.a.x subject to a fixed rental increase on 03/06/2025 to £50,000 p.a.x., and on 03/06/2026 to £55,000 p.a.x. and then an open market upward only rent review on 03/04/2029. The Seller will pay to the Buyer the difference between the current rent reserved from completion of the sale until 03/06/2026, therefore the property will effectively produce £55,000 p.a.x. from completion of the sale - please see Special Conditions of Sale.
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.
