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Lot 14 Click here for addendum

Freehold Commercial Investment
6 Week Completion

Situation

Located at the junction with King Street (which is the prime retail pitch) within the heart of the town centre, close to multiples such as Sports Direct, CEX, Subway, River Island, Greggs, WH Smith and others as well as a variety of independent retailers, less than ½ a mile to the Sea Front.
Great Yarmouth is a popular coastal resort located approximately 18 miles east of Norwich, 8 miles north of Lowestoft and benefits from good road links via the A47, A143 and the A12.

Property

A mid terrace building comprising a Ground Floor Shop and Basement with internal access to Ancillary Accommodation at first, second and third floor levels.

Accommodation

Ground Floor Shop
Gross Frontage 23'9”
Internal Width 21'7” (narrowing to 17'11”)
Shop & Built Depth 37'0”
Sales Area Approx. 620 sq ft
Basement
Area Approx. 290 sq ft
First Floor
Ancillary Area Approx. 530 sq ft
Second Floor
Store Area Approx. 315 sq ft
plus 2 WCs & Kitchen
Third Floor
Store Area Approx. 550 sq ft
Total Area Approx. 2,305 sq ft

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to TUI UK Retail Limited (part of the TUI Group of Travel Agents having approx. 350 branches in the UK) for a term of 5 years from 1st August 2021 (renewal of a previous lease) at a current rent of £6,000 per annum exclusive rising to £8,000 p.a. from 1st August 2023.

Tenant's Break at any time from 1st August 2023, subject to 6 months prior notice.

*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.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

39 Regent Street, Great Yarmouth, Norfolk NR30 1SA