Situation
The premises are situated on Hawthorn Drive in close proximity to the parade of shops which includes the Co-op, Victoria’s Bakery, St Elizabeth Hospice Charity Shop, Kays Fruit and Veg, a fish and chip shop, Simply Flowers, Chantry News and a family butchers. The property is adjacent to a Doctor’s surgery.
Description
The property comprises a retail premises of brick and tile construction, arranged over ground and first floors.
The ground floor comprises a shop area, with rear office and dispensing area, with first floor staff facilities/storage area.
There is car parking to the side of the premises with rear access for deliveries. The property is currently trading as a Lloyds Pharmacy.
Accommodation (all areas are approximate)
Ground Floor Area: 198.8 sq m / 2,140 sq ft
First Floor Area: 99.7 sq m / 1,073 sq ft
Total Floor Area: 298.5 sq m / 3,213 sq ft
Planning
The property currently has consent for Class E use as a retail pharmacy and chemist’s shop. All interested parties should contact Ipswich Borough Council.
Tenancy
The property is held on a 99-year lease from 5th October 1984 from Ipswich Borough Council, with a ground rent payable. Subject to a commercial lease to Suffolk Pharma Limited. 10-year FRI lease, from 5th June 2016, passing rent of £24,500 pax, 5-yearly upwards rent reviews. The rent review in 2021 was not implemented.
Business Rates
Rateable Value £26,500 – this is likely to be £26,750 from 1st April 2023. All interested parties should contact Ipswich Borough Council.
EPC
A full copy of the EPC is available upon request, reference 8662-6730-5764-1342-4635, rating D85, valid until October 2030.
Price & Tenure
Substantial offers sought. Long leasehold investment sale, subject to the existing long lease and commercial lease to Suffolk Pharma Limited. 10-year FRI lease, from 5th June 2016, passing rent of £24,500 pax, 5-yearly upwards rent reviews.
VAT
VAT is not applicable.
