50 Regent Street comprises a three storey Grade II Listed mid terrace period building. The upper floors have been converted into offices and have separate access at pavement level. The neighbouring occupiers are Sue Ryder and the RSPCA whilst nearby are Games Workshop, Fizzy Moon Bar & Restaurant, Save the Children, Stagecoach Travel Shop, Oxfam and Sabai Sabai Thai restaurant.
The shop has a prominent glazed frontage with matching side door and full width signage. It was reconfigured and refurbished a few years ago and subsequently fitted out to a high standard by the outgoing tenant, Wesley-Barrell, as a showroom for their furniture and interiors business. The retail area has a maximum depth of 55' 3'' (16.84 m) and a maximum width of 18' 11'' (5.76 m) with a shop front of 11' 1'' (3.39 m).
The specification includes part stone / part carpet flooring, painted plastered walls, feature lighting and heating via a gas fired boiler to radiators. There is a private kitchen, separate ladies and gents WC's, an enclosed rear yard suitable for refuse storage with a passageway running to the rear of the terrace leading onto Bedford Street.
Location
The property is situated on the western side of Regent Street between Bedford Street and Augusta Place in the heart of the town centre. The shop is on the south side of the road and as Regent Street runs in a one way direction from west to east there is a good level of vehicular traffic passing the building.
The prime retail area, Parade, is approximately 100 metres away. Multi storey and surface level car parks are within a short walk and 'pay and display' parking is directly outside. Regent Street comprises terraced period buildings which are typically two or three storey and have been converted for retail, bar or restaurant purposes at ground level and the upper parts as offices, residential or storage.
Accommodation
Retail area - 809 sq ft (75.13 sq m)
Understairs Storage 16 1.50
Kitchen 97 9.00
Separate ladies and gents WC’s
Total - 922 sq ft (85.63 sq m)
Terms
Services - Mains, water, gas, electric and drainage are connected with the heating via gas fired boiler to radiators
Lease Terms - The premises are available to rent by way of a new lease for a term to be agreed with the letting being taken outside the Security of Tenure Provisions of the Landlord & Tenant Act 1954.
The tenant will be responsible for the repair, maintenance and decoration of the interior of the premises and shop front, insuring the plate glass and for contributing towards the building insurance premium and service charge.
Rent - £17,500 per annum, exclusive of VAT, business rates, service charge and all other outgoings and payable quarterly in advance.
Rates:
Rateable Value £20,000
Rates Payable £9,600 (2018/19)
Service Charge - A service charge will be levied by the landlord for the upkeep of the external parts of the building. However, it has not been necessary to require the present tenant to contribute to date. The landlord will insure the building and will recover a pro-rata contribution based on floor area occupied. The current year's contribution is £1,266.
Legal Costs - Each party will be responsible for their own costs incurred in this matter
Specification
- Good quality retail unit adjacent to Sue Ryder and RSPCA.
- Extensively refurbished a few years ago.
- Well regarded town centre location with high level of passing traffic.
- Good mix of independent and national retailers plus busy bars / restaurants in immediate vicinity.