01480 213811 | email@example.com
3 Tebbutts Road, St Neots, Cambs, PE19 1AW
GUIDE PRICE: £1,800,000
Ground Floor Retail Unit Let to Poundstretcher Ltd
Let on a Ten 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
Located Opposite Argos and in Close Proximity to Town Centre Car Parks
Ground Floor Retail Sales including Storage – 1,343 sq m (14,460 sq ft) Approx
First Floor – 851 sq m (9,157 sq ft) Approx
St Neots is an expanding Town in Cambridgeshire located on the
River Great Ouse with a population of over 32,500. Adjoining
settlements such as Little Paxton, increase the immediate
population to in excess of 40,000 residents. The 10 mile catchment
is estimated to be in excess of 80,000. Cambridgeshire has the
highest County growth rate in the UK and St Neots has the fastest
rate of population growth within the County. Large scale residential
developments to the East of St Neots at Loves Farm Phase II (1200
homes) and Wintringham Park (2,800 homes) are due to come on
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 – Milton Keynes M1 (Junction 13) dual
carriageway. The A14 (A1/M1 link) 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 interesting smaller retailers and
Beales department store. St Neots also benefits from a six screen
cinema (Cineworld) and numerous restaurants including Pizza
Express, Prezzo and Frankie and Benny’s.
Established in 1981 and with over 400 sites nationwide,
Poundstretcher is one of the UK’s leading discount retailers and
employs over 600 people. For the year ending 31st March 2017,
Poundstretcher Ltd recorded a turnover of £397,380,415 with a
profit, before tax, of £2,730,262.
Planning Permission for First Floor
Outline planning permission for the conversion of the first floor to ten
1 and 2 bed flats was granted by Huntingdonshire District Council,
under Reference 18/01490/OUT on 28th November 2018. A copy of
the indicative floor layout plan has been reproduced within these
particulars. Details of the application and full scale copies of the
plans are available on request.
Proposed Schedule of Accommodation
51 sq m
55 sq m
62 sq m
68 sq m
61 sq m
82 sq m
49 sq m
55 sq m
55 sq m
67 sq m
605 sq m
27 sq m
The property comprises a large two storey retail unit, 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 ancillary staff
facilities, rear storage and loading bay and is let to Poundstretcher.
The first floor currently provides a large open plan area and most
recently has been used for storage and staff facilities.
Offers are invited – Guide Price: £1,800,000.
Nine car parking spaces are allocated to the property, seven of which
are demised within the lease to Poundstretcher. See below.
The property provides the following accommodation:
Ground Floor Retail Area
Ground Floor Storage
1,255 sq m
89 sq m
(13,504 sq ft)
(956 sq ft)
Lobby Serving First Floor
First Floor (inc. Facilities)
14 sq m
851 sq m
2,209 sq m
(153 sq ft)
(9,157 sq ft)
(23,770 sq ft)
(NB. All measurements are approximate and are based on areas
provided by a third party).
The ground floor is currently let to Poundstretcher Ltd for a term of
ten years commencing on the 17th May 2018 at a rent of £135,000
per annum. The lease is subject to a rent free period (to facilitate the
subdivision of the ground and first floors and Poundstretcher Ltd’s
fit-out), and rental payments will commence on 17th October 2019.
There is 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 16th May 2023. In the event Poundstretcher do not serve the
notice to break, a second rent free period is to be granted from 17 th
May 2023 to 16th November 2023. The lease is drawn on a full
repairing and insuring basis. A copy of the lease is available upon
(549 sq ft)
(592 sq ft)
(667 sq ft)
(732 sq ft)
(657 sq ft)
(883 sq ft)
(527 sq ft)
(592 sq ft)
(592 sq ft)
(721 sq ft)
(6,512 sq ft)
291 sq ft
The property is available freehold subject to, and with the benefit of
the lease to Poundstretcher Ltd.
A separate sale of the ground and first floors may be considered.
2017 Rateable Value: £252,500
2018/2019 Rate Poundage 49.3p/£
(Note: The hereditament is presently subject to re-assessment to
reflect the sub-division of the building. Transitional Relief/Charge
By appointment through the Joint Agents – Phil Cottingham of Brown
& Co Barfords on 01480 213811 or Brendan Bruder of Abbey Ross
on 01604 629988.
Brown & Co for themselves and for the Vendors or Lessors of this Property give notice that: 1. These particulars are intended to give a fair and accurate general outline only for the guidance of intending Purchasers or
Lessees and they do not constitute an offer or contract or any part of an offer or contract. 2. All descriptions, dimensions, references to condition and other items in these Particulars are given as a guide only and no
responsibility is assumed by Brown & Co for the accuracy of individual items. Intending Purchasers or Lessees should not rely on them as statements or representations of fact and should satisfy themselves as to the
correctness of each item by inspection or by making independent enquiries. In particular, dimensions of land, rooms or buildings should be checked. Metric/imperial conversions are approximate only. 3. Intending
Purchasers or Lessees should make their own independent enquiries regarding use or past use of the property, necessary permissions for use and occupation, potential uses and any others matters affecting the property
prior to purchase. 4. Brown & Co, and any person in its employ, does not have the authority, whether in these Particulars, during negotiations or otherwise, to make or give any representation or warranty in relation to this
property. No responsibility is taken by Brown & Co for any error, omission of mis-statement in these particulars. 5. No responsibility can be accepted for any costs or expenses incurred by intending Purchasers or Lessees in
inspecting the property, making further enquiries or submitting offers for the Property. 6. All prices are quoted subject to contract and exclusive of VAT, except where otherwise stated. 7. In the case of agricultural property,
intending purchasers should make their own independent enquiries with the RPA as to Single Payment Scheme eligibility of any land being sold or leased. 8. Brown & Co is the trading name of Brown & Co – Property and
Business Consultants LLP. Registered Office: Granta Hall, Finkin Street, Grantham, Lincolnshire NG31 6QZ. Registered in England and Wales. Registration Number OC302092.
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