Let to The Factory Shop Limited until September 2031 (no breaks)
Rent rebased in 2021
2024 tenant break not exercised
Approx. 6,560 sq ft with circa 20m (65ft frontage)
Nearby occupiers include Waitrose Sainsburys, Tesco Express and Co-Op Food
Lot 13
Auction 13th February 2025
Rent £39,500 per Annum Exclusive
Status Available
Guide* £400,000 - £425,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
13 miles south of Royal Tunbridge Wells, 16 miles north of Eastbourne, 23 miles north-east of Brighton
Roads
A21, A22, A265
Air
London Gatwick Airport
Situation
The property is prominently situated on the northern side of High Street, close to its junction with Station Road, in the heart of the town centre. Nearby occupiers include Waitrose, Sainsburys, Tesco Express and Co-Op Food.
Tenure
Freehold.
Location
Miles
13 miles south of Royal Tunbridge Wells, 16 miles north of Eastbourne, 23 miles north-east of Brighton
Roads
A21, A22, A265
Air
London Gatwick Airport
Situation
The property is prominently situated on the northern side of High Street, close to its junction with Station Road, in the heart of the town centre. Nearby occupiers include Waitrose, Sainsburys, Tesco Express and Co-Op Food.
Tenure
Freehold.
Description
The property comprises a large ground floor shop with ancillary accommodation on the first floor. The property benefits from rear loading at first floor level and from a free public car park to the rear with parking for approximately 40 cars.
VAT
VAT is applicable to this lot.
Planning
The property benefits from lapsed planning consent granted in 2022 for change of use of the first floor and a proposed new second floor to create 3 x 2 bed and 1 x 1 bed flats (Wealden District Council. Application Number WD/2021/2581/F).
Completion Period
Six week completion
EPC
D80
Description
The property comprises a large ground floor shop with ancillary accommodation on the first floor. The property benefits from rear loading at first floor level and from a free public car park to the rear with parking for approximately 40 cars.
VAT
VAT is applicable to this lot.
Planning
The property benefits from lapsed planning consent granted in 2022 for change of use of the first floor and a proposed new second floor to create 3 x 2 bed and 1 x 1 bed flats (Wealden District Council. Application Number WD/2021/2581/F).
Completion Period
Six week completion
EPC
D80
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground First
Retail Ancillary
361.11 248.33
(3,887) (2,673)
THE FACTORY SHOP LIMITED (1)
16 years from 14/09/2015 until 13/09/2031
£39,500
08/01/2026 08/01/2031
Total
609.44
(6,560)
£39,500
(1) For the year ending 26/03/2023 The Factory Shop reported a turnover of £118,762,000, a pre-tax profit of negative £1,745,000 and a net worth of £12,606,000 (Northrow 14/01/2025). The Original Factory Shop was established in 1969 and now trade from over 200 location across the UK, having opened 25 stores in 2023 (www.dukestreet.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.
