November 2021: Wednesday 10 November 2021 - 9:00am
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    Key features

    • A substantial purpose built retail unit
    • Freehold town centre investment opportunity
    • To be let on a new 10 year lease to Heron Foods Ltd
    • Commencing rent of £55,000 per annum
    • Rent review at the 5th anniversary


    Description

    A purpose built two storey retail unit - brick facing with a pitched and tile covered roof.

    Providing approximately 1,204 sq m (12,962 sq ft) of accommodation made up of sales, stock areas - staff room and ancillary offices.

    Joint Agents


    Additional information

    Tenure

    Freehold

    Accommodation

    The tenants fit out will include:

    (Approximate areas)

    Ground floor - Sales area, Post Office Counter, Stock area, Office, Staff room, Cold storage, Wc's - 692 sq m (7,451) sq ft

    First floor - Storage, Ancillary and Office areas - 511 sq m (5,511) sq ft

    Total - 1,204 sq m (12,962 sq ft

    Tenancy

    To be let on a new 10 year lease from 09/11/2021 to Heron Foods Ltd at a rental of £55,000 per annum with a rent review at the fifth anniversary.

    Notes

    The 2020 / 2021 accounts for Heron Foods Limited showed a Turnover of £434.5m, a Pre Tax Profit of £11.8m and a Net Worth of £64.8m (Source Dunn & Bradstreet)

    The new lease will take effect from the 9th November 2021

    The Co-Op are currently trading from the property.

    VAT is applicable to this property

    THE NEW LEASE TO HERON FOODS HAS NOW COMPLETED - REFER TO THE LEGAL PACK

    THERE IS A SIX MONTH RENT FREE PERIOD IN THE NEW LEASE

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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.

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      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.

      Local information

      Mildenhall is an attractive market town located just to the west of Thetford Forest Park and 23 miles north east of Cambridge.

      The property is situated in a busy town centre location, to the east side of King Street close to the Tourist Information Centre.

      The unit has a frontage on to a busy pedestrianised thoroughfare linking the principal shopping area of Market Place with one of the main town car parks.

      Other nearby occupiers include Costa Coffee, Sainsburys and Wilco, together with a broad range of multiple occupiers, restaurants and pubs on Market Place and High Street a short distance to the west.

      The A11 is 1.3 miles to the south and provides access to the M25 and on to Norwich going north. Local bus routes serve the area, together with Kennett Station to the south.

      Transport

      Kennett Station - National Rail

      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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