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Former Budgen Store, Tebbutts Road, St Neots, Cambridgeshire, PE19 1AW

2,208.31 Sq M, (23,770 Sq Ft)

£1,800,000

Under offer

Ground Floor Retail Unit Let to Poundstretcher Ltd on 10 Year Lease at a Rent of £135,000 Per Annum. Planning Permission Granted for ten 1 and 2 Bed Flats and Residents Gymnasium at First Floor Level.
Ground Floor - 1,343 sq m (14,460 sq ft);
First Floor - 851 sq m (9,157 sq ft) Approx.

Investment Development Opportunity

DESCRIPTION

The property comprises a large two storey retail premises, constructed in the mid 1980's of brick with tile roofing and a glazed retail frontage along Moores Walk.

The ground floor is predominantly open plan with staff facilities, rear storage and loading bay. The first floor currently provides a large open plan area, canteen and male and female wc's.


LOCATION

St Neots is the largest Town in Cambri…

Ground Floor Retail Unit Let to Poundstretcher Ltd on 10 Year Lease at a Rent of £135,000 Per Annum. Planning Permission Granted for ten 1 and 2 Bed Flats and Residents Gymnasium at First Floor Level.
Ground Floor - 1,343 sq m (14,460 sq ft);
First Floor - 851 sq m (9,157 sq ft) Approx.

Investment Development Opportunity

DESCRIPTION

The property comprises a large two storey retail premises, constructed in the mid 1980's of brick with tile roofing and a glazed retail frontage along Moores Walk.

The ground floor is predominantly open plan with staff facilities, rear storage and loading bay. The first floor currently provides a large open plan area, canteen and male and female wc's.


LOCATION

St Neots is the largest Town in Cambridgeshire located on the banks of the River Great Ouse with, according to recent estimates, over 32,500 population living within the urban area. Adjoining and nearby settlements falling within the extra urban area, such as Little Paxton, contain a population considerably in excess of 40,000 residents. When feeder communities which rely on St Neots as a hub for services are considered, the catchment is estimated to be in excess of 80,000. Furthermore, Cambridgeshire has the highest County growth rate in the UK and St Neots has the fastest rate of population growth within the County.

Benefiting from its rail links to London Kings Cross (typical journey time of 50 minutes), the town has seen a considerable expansion of its commerce and industry in recent years. It also enjoys excellent road communications with London and the east coast ports, being located at the intersection of the A1 trunk road and the A428/A421 Cambridge - Bedford M1 - Milton Keynes route. The opening of the A14 (A1/M1 link) in 1997 has also significantly improved accessibility to the Midlands and the North West.

The town has a good range of shopping facilities with many national multiple retailers represented, including Boots, Waitrose, Dorothy Perkins, Fat Face, Edinburgh Woollen Mill, Marks & Spencer Simply Food and Argos. There are a range of smaller retailers and Beales department store. St Neots also benefits from a 6 screen cinema (Cineworld) and 4 restaurants including Pizza Express, Prezzo and Frankie and Benny's.



Ground Floor Retail Unit Let to Poundstretcher Ltd Expiring 16th May 2028

Located Opposite Argos and in Close Proximity to Town Centre Car Parks

Development Potential to Convert First Floor to Residential - Scope for 9-10 Flats



Terms

The ground floor is currently let to Poundstretcher Ltd for a term of ten years expiring on the 16th May 2018 at a rent of £135,000 per annum. The lease is subject to a 17 month rent free period (to facilitate Poundstretcher Ltd's fit-out), an upward only rent review on 17th May 2023 (review not to exceed £149,040 per annum) and a tenant only option to break on the 17th May 2023. In the event Poundstretcher do not serve the notice to break, a second rent free period is to be granted from 17th May 2023 to 17th November 2023. The lease is on a full repairing and insuring basis.

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You are enquiring about: Former Budgen Store, Tebbutts Road, St Neots, Cambridgeshire, PE19 1AW £1,800,000

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