About this property
Key Features
Freehold
Prominent town centre location
Let to Ladbrokes with yearly rent of £16,500
Commercial investment opportunity
Description
A wonderful opportunity to acquire a commercial investment in the heart of the thriving Norfolk seaside town of Hunstanton, let to Ladbrokes.
The accommodation comprises:
Ground floor retail space which features a main trading area with serving counter, and incorporating glazed shop display windows to front and a pedestrian door to side. Also within the accommodation is a kitchen area, a small lobby and a total of 3 cloakrooms.
The gross internal area of the ground floor premises is approximately 726ft².
The sale of the property is for the freehold of the building, with the uppers having previously been sold off on a long leasehold basis.
Tenure
Freehold subject to Ladbrokes lease
Location
The property is situated in the heart of the Hunstanton town centre, immediately neighbouring Costa Coffee and opposite a Londis store. The High Street features a mix of national and local retailers/traders and benefits from high levels of foot traffic, especially during peak holiday seasons.
Hunstanton is a popular seaside town in north Norfolk, just north west of Sandringham. The town is a popular holiday destination due to its sandy beaches and therefore benefits from high amounts of visitors during holiday periods, and day trippers throughout the year.
Lot Type
Commercial
Tenancies
The entirity of the ground floor premises are let to Ladbrokes Betting and Gaming Ltd.
A 15 year lease was signed on the 29th October 2012 with an annual rent of £16,500, thereby giving an unexpired term of c. 8years.
The FRI lease incorporates a review of the rent on 20th October 2022, and a break option on 29 October 2022. See legal pack for more information.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Rebecca Horgan, Knights, 34 Pocklingtons Walk, Leicester, LE1 6BU
Viewing
Cheffins Property Auction Dept 01223 213777
Important notes
*Guide prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set up to or within the Guide Range or no more than 10% above a single figure Guide. The reserve price will remain confidential between the seller and the auctioneer.
Fees: The guide price excludes any additional fees that the purchaser may incur, to include, but not limited to, Buyers Contract fee, Stamp Duty Land Tax, VAT, legal and search fees etc. Please refer to relevant Auction Legal Packs for details.�