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    Key features

    • High Yielding Retail Investment
    • Let to Sportswift Limited (t/a Card Factory)
    • Producing £16,000 per annum
    • 1,894 sq ft (175.95 sq m)
    • Established and Popular Location
    • Guide Price Reflects 20% Gross Yield

    Description

    The property comprises a high yielding retail investment let to the undoubted covenant of Card Factory.

    Arranged across ground and three upper floors, the ground floor is let to Sportswift Limited on a lease expiring 11/11/2024 and producing £16,000 per annum. The upper parts are sold off on a long leasehold basis.

    The property is situated with a prominent frontage to Devonshire Road, the principal retail amenity within Bexhill-on-Sea. Nearby occupiers include Boots, Savers and Iceland Supermarkets.

    Additional information

    Tenure

    Leasehold - New 999 Year Lease at Peppercorn Rent

    Tenancy

    The ground floor is let to Sportswift Limited (t/a Card Factory) on a lease expiring 11/11/2024 and producing £16,000 per annum. The lease is on full repairing and insuring terms.


    The upper parts are in residential use and are sold off on a long leasehold basis, expiring 21/12/2109 (approx. 85 years unexpired).


    Sportswift Limited


    • D&B Rating - 5A2
    • Turnover (2023) - £446,128,000
    • Pre-Tax Profit (2023) - £62,118,000
    • Employees - 8,793


    Sportswift Limited is the principal ownership company for the Card Factory brand. The business is a mainstay of the UK High Street with over 1,000 stores in the UK and Ireland.

    Rent

    £16,000 per annum
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      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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