Home > Auctions > 17 & 18 June 2025 17 June 2025 - 9:00am > Lot 220

17 & 18 June 2025: Tuesday 17 June 2025 - 9:00am
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    Key features

    • To be offered on Wednesday 18 June
    • Bids will be called before the auction date and will be requested by 12 noon on 10th June 2025 (please refer to notes)
    • Prominent Freehold City Centre Shopping Centre Investment
    • Comprising 64,321 sq ft of retail and leisure space
    • Well located in the city centre
    • Each shop benefits from street frontage
    • Tenants include JD Sport, Cafe Nero, Hays Travel, 3 mobile, Superdrug and Greggs amongst others
    • Ongoing asset management opportunities
    • Please click here for the legal pack.
    • VAT is applicable
    • Six Week Completion Available
    • Investment let at £508,000 p.a. (reflecting 13.54% GIY off Guide Price)

    Description

    Please click here for the legal pack.


    The property is arranged over ground and one upper floor and arranged as 19 seperate units.

    Each shop benefits from their own street frontage.

    The Shopping Centre has no communal atrium, thus minimising the common parts.

    To the rear is a service yard.

    Additional information

    Tenure

    Freehold

    Accommodation

    Please see the schedule of accommodation and tenancies below.


    Total floor area- 5,975 sq m (64,321 sq ft)

    Tenancy

    Please see the tenancy schedule below


    Current Net Rents Received £482,454,96 p.a.

    Rent

    £508,000

    Notes

    Bidding process:


    There will be a 2 stage bidding process.


    Stage 1

    Potential purchasers will be invited to place bids via a set deadline (12 noon on 10th June 2025). These offers will then be considered by the client and a best and final offers may be called. Should an offer meet the clients requirements a successful bidder will be selected and a sale will take place via an auction contract, which will be signed immediately along with receiving a 10% deposit. The property will be deemed as ‘sold prior to auction’.


    Stage 2

    If no stand out bids are received or bids received are of a similar value then a reserve price will be set on the property and it will be sold via a live online auction (date to be determined subject to Stage 1 of the process).


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    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.


    Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees.

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        Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

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        All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

        Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

        Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

        No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

        No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

        There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

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        Accommodation / Tenancy Schedule

        Local information

        The University city of Bangor lies on the North West Wales coast, some 9 miles north-east of Caernarfon, 18 miles south-west of Colwyn Bay and 50 miles west of Chester

        Transport

        Road - The city is the gateway to Anglesey and is served by the A55 North Wales Expressway

        Rail - 0.5 miles from Bangor Railway Station provides both local and national services

        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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