Units 1-3,Greencote House, IsambardWay, Redhouse Village Centre Redhouse Village, Swindon,Wiltshire SN25 2NT
For identification purposes only – please see title documentation.
Extract reproduced from the Ordnance Survey mapping with the permission of The Controller of Her Majesty’s Stationery Office © Crown copyright ES 755990
Please note that the property formes part of a larger building
Location Estimated Resident Population: 155,000 Miles: 5 miles north-west of Swindon town centre 33 miles south-west of Oxford 45 miles north-west of Reading
Roads: A419, M4
Position The property is located on IsambardWay, fronting Market Square, within Redhouse village centre, about 5 miles north-west of Swindon town centre, in a mixed residential and commercial area.
Present Accommodation (approximate areas) Floor Ground
Accommodation Retail/Ancillary
Ground Retail/Ancillary 78.97 sq m
Nearby: Tesco Express, North Swindon Education Campus, Orbital Shopping Centre
Description A CHEMIST, an ESTATE AGENT and a GYM arranged on the ground floor only, forming part of a larger building.
Tenure Long Leasehold for a term of 999 years from 21st April 2008 at a peppercorn ground rent.
VAT is applicable to this lot – please see Special Conditions of Sale.
Net Internal Areas Tenant
103.58 sq m (1,115 sq ft) DAY LEWIS CHEMISTS LIMITED (1) with a guarantee from DAY LEWIS PLC (2)
(850 sq ft) NORTH SWINDON LIMITED (3) with a personal guarantee
Ground Retail/Ancillary 73.86 sq m (795 sq ft) D HAMMOND (4) Term
15 years from 5th October 2009 with a rent review in 2014 and 2019
15 years from 23rd April 2010 with a rent review in 2015 and 2020 and a tenant only break option in 2020
15 years from 30th July 2010 with a rent review in 2015 and 2020 and a tenant only break option in 2020
Total Commercial Area 256.41 sq m (2,760 sq ft) Total Rent Rent £ £21,000 Gross Rent £53,500 pa £16,800
Virtual Freehold Retail Investment in District Centre Location
£15,700
• Let to Day Lewis Chemist, Charles Harding Estate Agent and Curves forWomen
£53,500
(1) Day Lewis was founded in 1975 and is now the largest independent pharmacy group in the UK with branches throughout the South-East, South-West and South Midlands. For the year to 03/10, Day Lewis Chemists Limited reported a turnover of £58.4 million, pre-tax profits of £2.1 million and total shareholders’ funds of £5.6 million (Source:
www.daylewisplc.co.uk and One Source One-Stop Report). The tenant is not currently in occupation of the property.
(2) Day Lewis plc, for the year to 03/10, reported a turnover of £168.7 million, pre-tax profits of £5.5 million and total shareholders’ funds of £16.3 million. (Source: One Source One-Stop Report)
(3) Trading as Charles Harding Estate Agents who trade from three other branches in Swindon, having been in operation since 1977. A 3 month rent deposit is held by the Vendor – please see legal documentation.
(4) Trading as Curves forWomen. Curves is the largest fitness franchise in the world and has almost 10,000 locations in over 85 countries (
www.curves.com). A 3 month rent deposit is held by the Vendor – please see legal documentation.
The Special Conditions of Sale and a legal pack are available from the Seller’s Solicitors and are available online at
www.cbre.co.uk/auctions. Seller’s Solicitor Davies Arnold Cooper LLP. t: 0207 293 4694. e:
skay@dac.co.uk Ref: S Kay Esq (Ref: 1284/7345.75).
99
• Lease expires in 2024 and 2025 (Subject to options)
• Located in modern district centre location
• 30Working Day Completion available
LOT 86
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