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Specsavers, March



Offers In the Region of: £ 450,000
3-5 Broad Street, March,Cambridgeshire, PE15 8TP

Basic Facts

Status: Type: Tenure: Freehold Gross Yield %: 7.1
Gross Rent: £ 32,000 Lease Term: 10 yrs from Apr' 11 Area: 2635 sq ft
VAT applicable: Yes Years left on Lease: 1.6

Property Description

  • Freehold Blue-Chip Medical Retail Investment.
  • The property comprises a retail unit arranged over ground, first and second floors. Internally, the sales area is predominantly open plan with ancillary accommodation on the upper floors.
  • The total Gross Internal floor area is 270.90 sq m / 2,916 sq ft.
  • The property has been fitted out by Specsavers in their usual corporate style. This branch provides a full range of services including eye tests, audiology services, children’s eye care, contact lens services and home eye tests.

Location Description

  • March is a market town in Cambridgeshire, situated on the banks of the River Nene. The town has become an extremely popular stopping off point for boaters with the town centre benefiting from free moorings, close to the subject property. Two weekly markets are held in this location, on Wednesdays and Saturdays.
  • March is located on the A141 and is approximately 88 miles (141 km) north of Central London, 20 miles (32 km) east of Peterborough, 20 miles (32 km) north east of Huntingdon and 30 miles (48 km) north of Cambridge. The town is located approximately 25 miles (40 km) north east of Junction 16 of the A1(M) Motorway. The town is also connected to the National Railway Network with March Station providing the fastest journey time to London’s Kings Cross in 1 hour and 20 minutes.
  • The property occupies a prime retailing position on the southern end of Broad Street which is the towns’ principal retailing thoroughfare and benefits from a return frontage onto Mill View. Broad Street benefits from ample free car parking and is well populated by numerous national and independent businesses.
  • Nearby occupiers include WHSmith and Clarks (adjacent), Boots, Domino’s, Holland & Barrett, Tesco Express and Superdrug.

Additional Information

  • The property is let to Specsavers Optical Superstores Ltd on a full repairing and insuring lease for a term of 10 years from 7th April 2011, expiring 6th April 2021.
  • Let to the highly secure covenant of Specsavers Optical Superstores Limited (Net Assets £78.3 million).
  • Current passing rent is £32,000.
  • The property is not listed and sits within the March Conservation Area.
  • Potential to increase the massing on the upper floors – STPP.

Tenancy & Accommodation Schedule

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