28/32 Potter Street Bishop’s Stortford, Hertfordshire CM23 3UL
Location Estimated District Population: 128,000 Miles: 25 miles south of Cambridge 35 miles north of Central London
Roads: A120, M11
Position The property is located in a prime location on the western side of Potter Street midway between South Street and the primary entrance to Jackson Square Shopping Centre.
Nearby: Marks & Spencer, Tesco, Burton/Dorothy Perkins, Boots the Chemist,WH Smith, Monsoon and Caffè Nero
Description TWO SHOPS arranged on the ground and first floors. The property has been sub-divided into two separate shops.
(1) Next plc, for the year to 01/11, reported a total turnover of £3.45 billion, pre-tax profits of £551.4 million and a net worth of £185.9 million. Next plc are not in occupation and have sub-let to Phase Eight (Fashion & Designs) Ltd at £62,500 per annum and Fat Face Ltd at £85,000 per annum. Phase Eight (Fashion & Designs) Ltd, for the year to 01/11, reported a turnover of £90.5 million, pre-tax profits of £16.2 million and a net worth of £32.9 million. Fat Face Limited, for the year to 05/11, reported a total turnover of £152.7 million, pre-tax profits of £6.1 million and a net worth of £49.9 million. (Source: One Source One-Stop Report) (2) Areas provided by the Joint Auctioneer.
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 Todmans SRE. t: 01268 774073. e: william_todman@todmans.co.uk Ref:WTodman Esq. Joint Auctioneer Abbey Ross Chartered Surveyors. t: 01604 629988. e: brendan.bruder@virgin.net Ref: B Bruder Esq.
Tenure Freehold.
Tenant NEXT PLC (1)
Lease Term: 25 years from 28th February 1989 Basis: FRI Rent: £105,000 per annum Expiry: February 2014
VAT is not applicable to this lot.
Licence No. PU1000017316 from Experian Goad, Hatfield Herts. For identification purposes only – please see title documentation.
Extract reproduced from 1998 Edition of the Goad Plan
Rent £105,000 pa
Prime Freehold Retail Investment
• Entirely let to Next plc until 2014 at £105,000 per annum
• Sub-let to Phase Eight and Fat Face at £147,500 per annum
• Prime location in affluent Hertfordshire town
• VAT- free investment and 25Working Day Completion available