Recently renewed 10 year lease from May 2024 (subject to option)
Tenant trading in Diss for over 20 years
Fixed rental increase to £30,000 p.a.x. in May 2026
Approximately 3,701 sq ft
Nearby occupiers include Costa Coffee, Holland & Barrett, WHSmith, Boots and Superdrug
VAT-free investment
Lot 23
Auction 13th February 2025
Rent £27,500 per Annum Exclusive Rising to £30,000 p.a.x. on 01/05/2026
Status Available
Guide* £300,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
23 miles south of Norwich, 23 miles north of Ipswich, 19 miles north of Bury St Edmunds
Roads
A1066, A14, A12
Rail
Diss Railway Station
Air
Norwich Airport
Situation
The property is situated on the east side of the pedestrianised Mere Street in the heart of the town centre. Nearby occupiers include Costa Coffee, Holland & Barrett, WHSmith, Boots and Superdrug.
Tenure
Freehold.
Location
Miles
23 miles south of Norwich, 23 miles north of Ipswich, 19 miles north of Bury St Edmunds
Roads
A1066, A14, A12
Rail
Diss Railway Station
Air
Norwich Airport
Situation
The property is situated on the east side of the pedestrianised Mere Street in the heart of the town centre. Nearby occupiers include Costa Coffee, Holland & Barrett, WHSmith, Boots and Superdrug.
Tenure
Freehold.
Description
The property comprises a ground floor shop with ancillary accommodation on the first and second floors. The property benefits from two private car parking spaces to the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six week completion
EPC
D96
Description
The property comprises a ground floor shop with ancillary accommodation on the first and second floors. The property benefits from two private car parking spaces to the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six week completion
EPC
D96
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 Second
Retail Ancillary Ancillary
168.80 147.20 28.00
(1,816) (1,584) (301)
DISS DISCOUNT LIMITED
10 years from 01/05/2024 (2)
£27,500 Rising to £30,000 (2)
01/05/2029 (2)
Total
344.00
(3,701)
£27,500
(1) Floor areas provided by the VOA (www.voa.gov.uk). (2) The lease provides for a fixed rental increase to £30,000 p.a.x. on 01/05/2026. The lease provides for a rent review and a tenant option to determine on 01/05/2029, upon serving 12 months written notice.
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.
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