Retail Unit To Let
The Kingsgate Centre forms the prime retailing pitch in the town, extending to 309,000 sq ft. The average weekly footfall is 160,000 persons. The scheme is anchored by M&S and Debenhams with other retailers including Waterstones, New Look, River Island and The Entertainer.
The property extends to the following approximate net internal areas and dimensions:-
Internal Width: 47 ft 2 ins / 14.39 m
Build Depth: 132 ft 1 in / 40.25 m
Lower Mall: 6,275 sq ft / 582.97 sqm
Upper Mall: 8,471 sq ft / 786.98 sqm
Available on a new full repairing and insuring lease, subject to five yearly upward only rent reviews.
The Rateable Value is based on an estimate of how the premises are likely to be assessed.
Rateable Value: £101,000
UBR (2021/22): £0.516
Rates Payable: £52,116 pa
A 12 month business rates holiday for all “eligible” retail and leisure businesses will be applicable from 1 April 2020. For enquiries and to verify this, please contact the local authority on 01592 583644.
Approximately £71,045 pa
Band D. Report available on request.
Each party will be responsible for their own legal costs incurred in connection with this transaction. For the avoidance of doubt, the ingoing tenant will be responsible for Land and Buildings Transaction Tax (LBTT), registration dues and any VAT payable thereon.
ORINSEN, their clients and any joint agents give notice that:
They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.
Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It is assumed that the property has all necessary planning, building regulations or other consents and ORINSEN have not tested any services, equipment or facilities.
Purchasers must satisfy themselves by inspection or otherwise.Unless otherwise stated all prices and rents are quoted exclusive of VAT. Prospective purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction.