93, Queen Street Amble Northumberland NE65 0DA

93, Queen Street
Amble
Northumberland
NE65 0DA

Freehold Retail Investment

Let to Tesco Stores Limited until 2033 (subject to option)
Benefits from 5 yearly RPI rental increases (uncapped)
Approximately 763.1 sq m (8,214 sq ft)
Prominent high street location in busy market town
Popular tourist destination in the Northumberland Coast Area of Outstanding Beauty
Nearby occupiers include Lloyds TSB, Heron Foods, Boots, Barclays and the Post Office
Six Week Completion

Lot
36
Auction
23rd May 2013
Rent
£54,657 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA
On behalf of The Co-operative Estates

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Freehold Retail Investment

Let to Tesco Stores Limited until 2033 (subject to option)
Benefits from 5 yearly RPI rental increases (uncapped)
Approximately 763.1 sq m (8,214 sq ft)
Prominent high street location in busy market town
Popular tourist destination in the Northumberland Coast Area of Outstanding Beauty
Nearby occupiers include Lloyds TSB, Heron Foods, Boots, Barclays and the Post Office
Six Week Completion

Lot 36
Auction 23rd May 2013
Rent £54,657 per Annum Exclusive
Status Sold Post
Price
Sector
Supermarket/Convenience
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA
On behalf of The Co-operative Estates

Property Information

Location

Miles: 9 miles south of Alnwick; 15 miles north of Morpeth; 28 miles north of Newcastle upon Tyne
Roads: A1068, A1, A189
Rail: Alnmouth Rail Station
Air: Newcastle upon Tyne International Airport

Situation

The property is prominently situated on the north side of Queen Street, the town’s principal retail thoroughfare. Nearby occupiers include Lloyds TSB, Heron Foods, Boots, Barclays and the Post Office.

Tenure

Freehold.

Location

Miles: 9 miles south of Alnwick; 15 miles north of Morpeth; 28 miles north of Newcastle upon Tyne
Roads: A1068, A1, A189
Rail: Alnmouth Rail Station
Air: Newcastle upon Tyne International Airport

Situation

Tenure

Freehold.

Description

The property comprises a purpose built supermarket with a dedicated car park providing 9 spaces. There is additional car parking in the town centre car park at the rear and free on-street parking to the front. The first floor is accessible through the retail unit but is not currently used by the tenant. Additionally, the retail unit adjacent and currently trading as ‘The Co-operative Funeralcare’ also forms part of the sale.

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground First	Retail Ancillary	458.5 sq m 304.6 sq m	(4,936 sq ft) (3,279 sq ft)	TESCO STORES LTD (1)	25 years from 06/05/2008 until 2033 on a full repairing and insuring lease (2)	£54,657 (3)	06/05/2013 and five yearly
Totals		763.1 sq m	(8,214 sq ft)			£54,657

(1) For the year ending 25th February 2012, Tesco Stores Ltd reported a turnover of £41,981,000,000, pre-tax profits of £2,126,000,000 and a total net worth of £6,894,000,000. (Source: www.riskdisk.com 24/04/2013)
(2) There is a tenant only option to determine the lease on 06/05/2023 on providing 6 months prior written notice.
(3) The current rent is £47,240 p.a.x. with the next rent review on 06/05/2013. The rent is reviewed upwards only in line with the Retail Price Index. Applying the February 2013 RPI figure of 247.6 the rent will increase to a minimum of £54,657 p.a.x at the next review.
NB. The part of the property currently trading as ‘The Co-operative Funeralcare’ and shaded blue on the street traders plan is held long leasehold by the Co-operative Group Limited for a term of 999 years from 18th March 2009 at a peppercorn rent.