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    Key features

    • To be offered on Monday 15 April
    • High Yielding Retail Investment
    • Let to Superdrug
    • Lease Expires 18/08/2025
    • Producing £41,000 per annum
    • Tenant in Occupation for 10+ Years
    • 6,710 sq ft (623.38 sq m)
    • Popular Pedestrianised Street
    • Guide Price Reflects 16.4% Gross Yield

    Description

    The property comprises a high yielding retail investment opportunity let to the undoubted covenant of Superdrug and occupying a prime, pedestrianised pitch.

    Arranged across ground and first floors (including a small mezzanine storage area) the property is let in its entirety to Superdrug Stores Plc on a five year lease expiring 18/08/2025 and paying a rent of £41,000 per annum. We understand the tenant has been in occupation for over 10 years and the current tenancy was therefore a renewal agreed in 2020.

    The property fronts the north of King Street, the prime pedestrianised retail amenity in Thetford. The property also sits between two principal pedestrian routes from the major town centre parking amenity, which is immediately to the rear of the property. Nearby occupiers include WH Smith, Subway and Costa.

    Additional information

    Tenure

    Freehold

    Tenancy

    The property is let in its entirety to Superdrug Stores Plc on a five year lease expiring 18/08/2025 and paying a rent of £41,000 per annum. The lease is on full repairing and insuring terms and we understand the tenant has been in occupation for over 10 years.


    Superdrug Stores Plc


    • D&B Rating - 5A2
    • Turnover (2022) - £1.36bn
    • Pre-Tax Profit (2022) - £77.7m
    • Number of Employees - 13,430


    Superdrug is a well known national retailer of health and beauty products. The retailer is currently in its 60th year of trading and occupies over 800 stores nationwide.

    Rent

    £41,000 per annum
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      Local information

      • Thetford Station - 0.5 miles

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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