About this property
The property is located in a prime retail position on the northern side of Sandgate Road with nearby retailers including Dorothy Perkins, Superdrug, Debenhams, Clarks and Waterstones. The town has benefited substantially from the opening of Bouverie Place, which is anchored by Asda and Primark, together with New Look, Sports Direct, Poundland, Body Shop, Starbucks and Specsavers.
The property comprises a five storey, mixed retail and office building constructed in the early 1970s. The retail store fronts onto Sandgate Road providing accommodation on ground and three
upper floors. The offices are accessed by way of a lift and stairs from the High Street.
Ground Sales 12,506 sq ft (1,162 sq m)
First Sales and Ancillary 9,606 sq ft ( 892 sq m)
Second Ancillary 9,393 sq ft ( 873 sq m)
Third Ancillary 9,393 sq ft ( 873 sq m)
Roof Plant 900 sq ft ( 84 sq m)
Total 41,871 sq ft (3889 sq m)
1st-3rd Floor front Offices 6,340 sq ft (589 sq m)
Boots Properties Limited has a new 10 year lease commencing from 11th March 2013 on effective full repairing and insuring terms, subject to 5 yearly upward only rent reviews on 41,871 sq ft of the building, which is arranged on Ground and 3 uppers floors. The current passing rent is £170,000 per annum.
The offices on the front of the builidng have been sold a 999 year lease with a £1000 pa Ground Rent.
Boots are the UK’s largest pharmaceutical company. For the year ending 31st March 2011
the company reported a turnover of £6,372,000,000, pre-tax profits of £220,000,000 and a net worth of £217,000,000. The company has Dunn & Brad Street rating of 5A1.VAT
The property is registered for VAT and therefore
will be payable on the purchase price or dealt with by way of a TOGC.