110 High Street, Sittingbourne - Property Pilot
FREEHOLD INVESTMENT 110 HIGH STREET, SITTINGBOURNE, KENT ME10 4PL
SHOP WITH ANCILLARY ACCOMMODATION LET TO TUI UK RETAIL LIMITED FOR SALE
01634 668000 watsonday.com
LOCATION The property is situated on the north side of the High Street in Sittingbourne town centre. Occupiers of surrounding retail properties include branches of Santander Bank, Edinburgh Wool & Mill, Boots, HSBC and Lloyds TSB Banks, Argos and Mothercare. The entrance to The Forum Shopping Centre is situated approximately 50 metres to the west.
DESCRIPTION The property comprises a part 2 storey and part single storey shop with ancillary accommodation. On the ground floor, there is a roughly rectangular shaped retail sales area. There are full height aluminium framed display windows to both the High Street and a short return frontage. The ground floor has been divided by nonstructural partitions to form a shop/office area, a bureau de change, a lobby, a rear office and a stock room. Within the shop/office area there is a suspended ceiling. There is a metal goods access door at the rear of the ground floor. The accommodation on the first floor comprises a landing, separate male and female WCs and an L-shaped ancillary area which has been divided by non-structural partitions to form a kitchen/staff room and an office/training room.
ACCOMMODATION
PROPOSAL The purchase of the freehold interest in the property subject to the existing lease.
TENANT INFORMATION For the year to 30th September 2016 TUI U.K Retail Limited reported a turnover of £195 million, a pre-tax profit of £1,000,000, shareholders’ funds of £179 million and a net worth of £173 million. (Source: Experian)
PRICE
The principal dimensions and approximate net internal £325,000, which reflects a yield at 6.53% after making floor areas of the accommodation are as follows: allowance for purchaser’s costs. Ground Floor Internal frontage Rear width Maximum depth Net area First Floor Offices and ancillary Male WC Female WC
LEGAL COSTS 4.63 metres 3.25 metres 24.45 metres 97.35 m²
(15’2”) (10’8”) (80’3”) (1,048 sq. ft.)
70.88 m²
( 763 sq. ft.)
Each party to be responsible for their own legal costs.
EPC The property is rated within Band E (103). The EPC is valid until March 2023. An Energy Performance Certificate is available upon request.
VIEWING & FURTHER INFORMATION Strictly via the vendor’s agent:-
LEASE TERMS The entire property is let on a full repairing lease to Tui UK Retail Limited (Company No. 01456086) for a term of 10 years from 13th October 2012 at an initial rent of £22,000 per annum. The lease makes provision for a rent review effective from 13th October 2017. The rent review has not been implemented.
WATSON DAY CHARTERED SURVEYORS 01634 668000
2 The Oaks Business Village, Revenge Road, Lordswood, Chatham, Kent ME5 8LF IMPORTANT NOTICE: Watson Day Chartered Surveyors for themselves and for the vendors or lessors of this property whose agents they are give notice that: 1)
All rents, prices or other charges given are exclusive of VAT;
2)
Any equipment, fixtures and fittings or any other item referred to have not been tested unless specifically stated;
3)
These details, description and measurements do not form part of a contract and whilst every effort has been made to ensure accuracy this cannot be guaranteed. Applicants must satisfy themselves by inspection or otherwise as to the correctness of them;
4)
No person in the employment of Watson Day Chartered Surveyors has any authority to make or give any representation or warranty whatever in relation to this property
01634 668000
SHOP WITH ANCILLARY ACCOMMODATION LET TO TUI UK RETAIL LIMITED FOR SALE
01634 668000 watsonday.com
LOCATION The property is situated on the north side of the High Street in Sittingbourne town centre. Occupiers of surrounding retail properties include branches of Santander Bank, Edinburgh Wool & Mill, Boots, HSBC and Lloyds TSB Banks, Argos and Mothercare. The entrance to The Forum Shopping Centre is situated approximately 50 metres to the west.
DESCRIPTION The property comprises a part 2 storey and part single storey shop with ancillary accommodation. On the ground floor, there is a roughly rectangular shaped retail sales area. There are full height aluminium framed display windows to both the High Street and a short return frontage. The ground floor has been divided by nonstructural partitions to form a shop/office area, a bureau de change, a lobby, a rear office and a stock room. Within the shop/office area there is a suspended ceiling. There is a metal goods access door at the rear of the ground floor. The accommodation on the first floor comprises a landing, separate male and female WCs and an L-shaped ancillary area which has been divided by non-structural partitions to form a kitchen/staff room and an office/training room.
ACCOMMODATION
PROPOSAL The purchase of the freehold interest in the property subject to the existing lease.
TENANT INFORMATION For the year to 30th September 2016 TUI U.K Retail Limited reported a turnover of £195 million, a pre-tax profit of £1,000,000, shareholders’ funds of £179 million and a net worth of £173 million. (Source: Experian)
PRICE
The principal dimensions and approximate net internal £325,000, which reflects a yield at 6.53% after making floor areas of the accommodation are as follows: allowance for purchaser’s costs. Ground Floor Internal frontage Rear width Maximum depth Net area First Floor Offices and ancillary Male WC Female WC
LEGAL COSTS 4.63 metres 3.25 metres 24.45 metres 97.35 m²
(15’2”) (10’8”) (80’3”) (1,048 sq. ft.)
70.88 m²
( 763 sq. ft.)
Each party to be responsible for their own legal costs.
EPC The property is rated within Band E (103). The EPC is valid until March 2023. An Energy Performance Certificate is available upon request.
VIEWING & FURTHER INFORMATION Strictly via the vendor’s agent:-
LEASE TERMS The entire property is let on a full repairing lease to Tui UK Retail Limited (Company No. 01456086) for a term of 10 years from 13th October 2012 at an initial rent of £22,000 per annum. The lease makes provision for a rent review effective from 13th October 2017. The rent review has not been implemented.
WATSON DAY CHARTERED SURVEYORS 01634 668000
2 The Oaks Business Village, Revenge Road, Lordswood, Chatham, Kent ME5 8LF IMPORTANT NOTICE: Watson Day Chartered Surveyors for themselves and for the vendors or lessors of this property whose agents they are give notice that: 1)
All rents, prices or other charges given are exclusive of VAT;
2)
Any equipment, fixtures and fittings or any other item referred to have not been tested unless specifically stated;
3)
These details, description and measurements do not form part of a contract and whilst every effort has been made to ensure accuracy this cannot be guaranteed. Applicants must satisfy themselves by inspection or otherwise as to the correctness of them;
4)
No person in the employment of Watson Day Chartered Surveyors has any authority to make or give any representation or warranty whatever in relation to this property
01634 668000
