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Lot 22
29 King Street, Bridlington, East Riding of Yorkshire YO15 2DN

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Available £208,000

6 Week completion

SITUATION

Occupying a prominent town centre location in the pedestrainsed King Street, adjacent to CEX, opposite Superdrug and amongst such other multiple retailers including The Works, Costa, Ladbrokes, Boyes, NatWest, Thomson and HSBC.
The seaside resort town of Bridlington is located approx. 24 miles north of Hull and 14 miles south of Scarborough.

PROPERTY

A mid terrace building comprising a Ground Floor Shop with internal access to Ancillary Accommodation on the first and second floors.

ACCOMMODATION

Ground Floor Shop
Gross Frontage 16'3"
Internal Width 12'1"
widening to 16'1" (max)
Shop & Built Depth 55'0"
Sales Area Approx. 734 sq ft
First Floor Ancillary Area Approx. 156 sq ft plus WCs
Second Floor Ancillary Area Approx. 132 sq ft

VAT is applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to Specsavers Optical Superstores Limited (T/O for Y/E 29/02/16 £673.6m, Pre-Tax Profit £28.8m and Shareholders' Funds £57.8m) for a term of 15 years from 1st February 2007 at a current rent of £20,000 per annum exclusive.

Rent Review February 2017 (Outstanding)

Note: The lessee also trades from the adjoining shop (No. 31) and from No. 16 Chapel Street which abuts the rear of the propery, both of which are not included in the sale.

*Please note:

RESERVE:The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE: Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.