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01223 467155
bsm.uk.com
INVESTMENT ‐ FOR SALE
Totals 5,544 sq ft (515.04 sq m)
Tenants include Scrivens and East
Anglia’s Children’s Hospices
New 10 yr leases with 5 yr breaks
Producing £75,000 pax
7.91% NIY
UNITS 1, 2 & 3, GROUND FLOOR, 40‐42 HIGH STREET,
ROYSTON, HERTFORDSHIRE, SG8 9AG
£900,000 long‐leasehold
NEW RETAIL INVESTMENT
Note: Barker Storey Matthews is the trading name of Eddisons Commercial Limited. Reg No. 2566342. These particulars do not constitute or form any part of an offer or contract nor may they
be regarded as representations. All interested parties must themselves verify their accuracy. All measurements are approximate. Unless otherwise stated, all prices and rents are quoted
exclusive of Value Added Tax. NIA Refers to Net Internal Area. Where appropriate or stated IPMS 3 relates to the International Property Measurement Standards 1st Edition. A definition can be
found at: www.ipmsc.org/standards/office
Bury St Edmunds ● Cambridge ● Huntingdon ● Peterborough
Location
Royston is an attractive and expanding market town with a
population of approximately 16,000.
It is situated in North Hertfordshire at the junction of the
A10 & A505 trunk roads, and has a mainline station serving
London in under 1 hour.
The subject property is located in a prime position on the
High Street next to Boots and WH Smith.
______________________________________________
Description
Retail investment comprising 3 x newly created ground
floor retail units let to East Anglia's Children's Hospices,
Kooky Nohmad Limited and Scrivens Limited producing a
total income of £75,000 per annum exclusive.
_________________________________________________
Services
Mains electricity gas and water are believed to be available
to the premises. Interested parties are however advised to
make their own enquiries of the relevant service providers.
_________________________________________________
_________________________________________________
Accommodation
Each unit comprises a front sales area with ancillary
accommodation, WC's and kitchens to the rear.
Accommodation
sq ft
sq m Unit 1 Ground floor 2,207 205.03 Unit 2 Ground floor 1,590 147.71 Unit 3 Ground floor 1,747 162.3 Total 5,544 515.04
The upper floors have been converted to flats and are being disposed of independently by the vendor. _________________________________________________ Lease Terms The property is to be let to three tenants on new 10 year leases with 5 year break options. Total rent to be £75,000 per annum exclusive. See tenancy schedule attached. _________________________________________________ Covenant Status See tenancy schedule attached. _________________________________________________ Yield Profile Based on the current income, the net initial yield after purchasers costs is 7.91% _________________________________________________ Rates The property will need to be re‐assessed for business rates purposes following its sub‐division. It is currently assessed as a whole building with a rateable value of £66,000, of which £58,070 related to the ground floor. _________________________________________________ Price The price will be £900,000+VAT. _________________________________________________ Tenure A new long‐leasehold interest is to be created for a term of 999 years at a peppercorn rent. The Freehold is to be retained by the vendor. The leases are subject to rent free/reduced rent incentives. The seller will pay the buyer the rent that would have been due in the absence of the incentives. Therefore the property will produce £75,000 per annum exclusive from completion of the sale. _________________________________________________ VAT We understand that VAT will be charged on the price. _________________________________________________
Bury St Edmunds ● Cambridge ● Huntingdon ● Peterborough
Legal Costs Each party to bear their own costs in relation to this transaction. _________________________________________________ Timetable Scrivens are in occupation. The target for occupation by the other two Tenants is March 2020.
Service Charge A service charge is levied for the upkeep and maintenance of the structure and communal areas of the building and is recoverable from each of the Tenants. _________________________________________________ EPC The whole building is currently assessed in its entirety with an Energy Performance Asset Rating of D77. _________________________________________________ Viewing Strictly by appointment with the sole agents:‐ Barker Storey Matthews Pound Hill House, Pound Hill, Cambridge, CB3 0AE. Contact: Mark Critchley [email protected] (01223) 467155
Ref: MC/821.116492
200116
Note: Barker Storey Matthews is the trading name of Eddisons Commercial Limited. Reg No. 2566342. These particulars do not constitute or form any part of an offer or contract nor may they
be regarded as representations. All interested parties must themselves verify their accuracy. All measurements are approximate. Unless otherwise stated, all prices and rents are quoted
exclusive of Value Added Tax. NIA Refers to Net Internal Area. Where appropriate or stated IPMS 3 relates to the International Property Measurement Standards 1st Edition. A definition can be
found at: www.ipmsc.org/standards/office
Bury St Edmunds ● Cambridge ● Huntingdon ● Peterborough
Units 1, 2
& 3, 40‐42 High Street, Royston
TENANCY SCHED
ULE
UNIT
TENANT
TERMS
REN
T £pax
COMMEN
TS
1
East Anglia’s Children’s
Hospices (EA
CH)
(Company No: 03550187)
10 years (Target completion M
arch 2020)
5 yearly upward only rent review
s Tenant break option at end of year 5 on 6 m
onths’ notice
Inside the 1954 Act
4 m
onths’ ren
t free
from commencemen
t (to be topped
up by the Landlord)
£25,000
Experian Credit Risk Score – Very Low Risk
Total income to 31st M
arch 2019 of £15,606,496 with a net income of £2,998,729.
(Source: h
ttps://www.each.org.uk/about‐us/reports‐and‐accounts)
EACH has stores in 42 locations and is continuing to acquire new
premises.
2
Kooky Nohmad
Royston
Limited
(Company No: 12396631)
10 years (Target completion M
arch 2020)
5 yearly upward only rent review
s Tenant break option at end of year 5 on 6 m
onths’ notice
Inside the 1954 Act
4 m
onths’ ren
t free
from commencemen
t (to be topped
up by the Landlord)
£25,000
Experian Credit Risk Score – N/A
New
Company
3
Scrivens Limited
(Company No: 00377588)
10 years from November 2019
5 yearly upward only rent review
s Tenant break option at end of year 5 on 6 m
onths’ notice
Inside the 1954 Act
3 m
onths’ ren
t free
followed
by 6 m
onths at half rent (to
be topped
up by the Landlord)
£25,000
Experian Credit Risk Score – Very Low Risk
Turnover to 28/10/2018 of £42,436,935 with pre‐tax profit of £2,869,486.
Scrivens has stores in over 180 locations nationwide and was incorporated on
12/2/1942.
TOTA
L
£75,000