Acquired
Clacton-on-Sea – QD Stores
72-78 Rosemary Road, Clacton-on-Sea, Essex CO15 1TZFreehold Shop Investment
Area
18,519 SQ FT
VAT Applicable
No
Investment Consideration
- Town centre location. 2018 tenant break option NOT exercised
- Reversion 2021. The tenant has been trading from the property for some 18 years. We understand the tenant may consider a regear of their existing lease subject to agreeing terms and contract.
- The property is arranged on basement, ground and one upper floor to provide a large ground floor shop with ancillary accommodation to the rear and in the basement.
- Occupiers close by include The Edinburgh Woollen Mill, Store Twenty One, Nationwide, Betfred, Co-op Funeralcare, William Hill, TUI, Boots and Dorothy Perkins, amongst many others.
VAT
VAT is not applicable.
Property Description
The property is arranged on basement, ground and one upper floor to provide a large ground floor shop with ancillary accommodation to the rear and in the basement. The first floor comprises further sales areas accessed via escalators together with ancillary accommodation. The property benefits from loading areas and marked car parking for some 6 cars.
Tenancy Description
The entire property is at present let to QD MARKET TOWNS LIMITED for a term of 5 years from 24th June 2016 at a current rent of £88,875 per annum. The lease contains full repairing and insuring covenants. The lease is guaranteed by QD Commercial Group Holdings Limited. The tenant did not exercise the June 2018 break option. The tenant has been trading from the property for some 18 years. We understand the tenant may consider a regear of their existing lease subject to agreeing terms and contract.
Tenancies & Accommodation
Location Description
The resort town of Clacton-on-Sea has a population of approximately 45,000, which in peak season increases markedly. The town is located some 25 miles south of Ipswich and 13 miles south-east of Colchester and has access to the A12 via the A133 and the A120. The A12 connects with the M25 Motorway (Junction 28) some 35 miles to the south-west. The property is situated fronting the north side of Rosemary Road, between its junctions with Hayes Road and The Grove, within the town centre.
