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Floorplan
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    Key features

    • To be Offered on Tuesday 10 February
    • Freehold Retail Investment
    • Comprises a three storey building arranged as a shop with ancillary upper parts
    • Let to tenant t/a The Works
    • Tenant been in occupation for over 13 years
    • The Works have over 500 stores UK wide
    • Asset management potential to increase rent at renewal and development/change of use of upper parts (subject to necessary consents)
    • Comprises approximately 291.66 sq m (3,139 sq ft)
    • Low capital value psf on Guide Price (£20.71 psf) and low rent at £3.19 psf
    • Nearby occupiers include Pandora, NatWest, Santander, Holland and Barratt, Card Factory and Halifax
    • Investment let at £10,000 pa (15.38% on Guide Price)

    Description

    The property comprises a three storey building arranged as a shop with upper parts. The building comprises approximately 291.66 sq m (3,139 sq ft).

    Additional information

    Tenure

    Freehold.

    Accommodation

    Please note the approximate areas have been provided by the VOA and the property has not been internally inspected by Savills. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site.


    Ground - 100 sq m (1,076 sq ft)

    Basement - 53.32 sq m (574 sq ft)

    First - 95.65 sq m (1,030 sq ft)

    Second - 41.68 sq m (449 sq ft)


    Total - 291.66 sq m (3,139 sq ft)

    Tenancy

    Let to The Works Stores Limited on a 5 year lease expiring in August 2026. The tenant has been in occupation since 2011. The tenant benefits from a rolling break option every 3 months. Please see legal pack.


    The Works have over 500 stores UK wide (https://corporate.theworks.co.uk/).

    Rent

    £10,000 pa
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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

      The property is located in a prominent central position on the north side of High Street. Nearby occupiers include Pandora, NatWest, Santander, Holland and Barratt, Card Factory and Halifax.

      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.

      Addendums