WH Smith, Great Yarmouth

 

183 King Street, Great Yarmouth, Norfolk NR30 1LS

Offers in excess of
N/A
Sold
Type - Commercial
Tenant type - Retail – other
  • Tenure: Freehold
  • Gross Rent: £80,000
  • Lease Term: 10 yrs from Mar' 12
  • VAT applicable?: Y

Property Description

  • Freehold, Blue-Chip Retail Investment.
  • Large unit​ comprises of ​ground ​floor ​retail​ accommodation, 1st & 2nd ​floor ​ancillary​ accommodation​ and ​a basement​ plant​ room, total area 11,209 sq ft.​
  • The ​property​ benefits ​from​ rear ​access and includes a Post Office counter.

Location Description

  • Great Yarmouth is a popular Norfolk coastal town that benefits from a significant seasonal increase in demographic due to holidaying familys and day visitors.
  • The property is prominently situated fronting the pedestrianised King Street, in the heart of Great Yarmouth town centre.
  • Market Gates Shopping Centre is located approximately 50 metres away, with retailers including Boots the Chemist, JD Sports, Wilko, Superdrug and Starbucks.
  • Other nearby occupiers include Holland & Barrett, Greggs, River Island and branches of Santander, Barclays and Halifax banks.

Additional Notes

  • Let to WH Smith Retail Holdings Ltd for 10 years (no breaks) from March 2012 for £80,000 p.a.
  • For the year ending 31st August 2017, WH Smith Retail Holdings Limited reported a turnover of £181,024,000, pre-tax profits of £67,219,000 and a total net worth of £449,954,000 (Source: Experian Group 18/06/2018).
  • The tenant has indicated that they would like to enter into negotiations for a new lease. Rent rebased from £95,000 in 2012

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