Lot 13 Click here for addendum
6 Week Completion
Situation
Located on the main shopping thoroughfare in the town centre amongst a host of multiple and local traders including Savers, Shoe Zone, Specsavers, Thomas Cook, Tui, Barclays Bank, Tenovous, Ladbrokes and Card Factory.
The property is also adjacent to ‘The Walk' Retail Park that includes Iceland, Argos, Poundstretcher and a Car Park.
In addition, there is a Street Market directly outside the property and along Bethcar Street every Friday.
Ebbw Vale is a busy market town lying just off the A465 some 8 miles east of Merthyr Tydfil and 25 miles north of Cardiff.
Property
A substantial detached building comprising a Large Ground Floor Retail Unit (ex-Woolworths) with internal access to Ancillary Accommodation at first floor level. In addition, the property includes a Boiler Room in the basement and a Rear Loading Area.
Accommodation
Ground Floor Retail Unit
Gross Frontage 46'2"
Internal Width 43'0"
widening at rear to 79'9"
Shop Depth 101'3"
Built Depth 124'4"
Sales/Ancillary Area Approx. 7,055 sq ft incl. WC
First Floor Ancillary Area Approx. 6,550 sq ft plus WCs
Basement Boiler Room Area Approx. 120 sq ft
Total Area Approx. 13,725 sq ft
VAT is applicable to this Lot
Freehold
Tenancy
The entire property is let on a full repairing and insuring lease (subject to a schedule of condition) to Heron Foods Limited t/a B&M Express (see Tenant Profile) for a term of 10 years from 6th July 2018 at a current rent of £30,000 per annum exclusive.
Rent Review and Tenant's Break 2023
Tenant Profile
Heron Foods Limited have 240 branches and for the Y/E 31/03/18 reported a T/O of £394m, Pre-Tax Profit of £8.1m and Shareholders' Funds of £41.9m. In August 2017, B&M European Value Retail S.A. (“B&M”), the UK's leading multi-price value retailer, acquired Heron Food Group Limited by its subsidiary, EV Retail Limited. The business currently employs circa 3,800 people. (Source: www.heronfoods.com).
