You can buy former BHS store in Great Yarmouth at auction
PUBLISHED: 16:32 17 November 2017 | UPDATED: 10:09 20 November 2017
The former BHS store building in Great Yarmouth is to be auctioned off, with a guide price of up to £700,000.
The prominent building on Regent Road is to be auctioned on December 5 by Allsop Commercial LLP Commercial.
Since August 2016 the store has lain empty after BHS folded, which also led to the closure of its stores in Norwich and Lowestoft.
The auction documents say the vacant Yarmouth property may be suitable for subdivision, conversion and complete re-development, subject to the necessary consents by Great Yarmouth Borough Council.
The documents add: “This substantial property is arranged on ground and three upper floors to provide a large ground floor shop with its main frontage to Regent Road and a secondary entrance from Deneside.
“The first floor provides storage, staff and office accommodation, whilst the second floor is predominantly plant rooms.
“The third floor is a lift motor room and was not inspected by Allsop. The property benefits from a goods lift which has access from the rear.”
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The ground floor is 15,814 sq ft in space, the first floor is 14,156 sq ft, the second floor has 1,497 sq ft space and the top floor is 370 sq ft.
The guide price at the auction is between £500,000 and £700,000.
The property’s rateable value is £157,000 and Allsop go on to describe the building as a prominent property in a mixed use area.
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The auction guide says occupiers close by include William Hill and Costa Coffee, McDonald’s, KFC, Poundland, Burger King, Store Twenty One, Clarks, Coral, Paddy Power and Ladbrokes.
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It is being auctioned on the instructions of an A Wright and a S Hunt of JLL acting as joint fixed charge receivers.
When BHS closed last summer, it saw 11,000 jobs lost nationally, 22,000 pensions affected and a parliamentary inquiry into its former owners launched.
The former BHS store in Lowestoft is set to be re-opened as a B&M store in the new year. It had been hoped it would be open in time for Christmas shopping period, but that has not been possible due to delays in refurbishment works.
Norwich’s former BHS store in St Stephen’s Street is a 45,186 sq ft premises, which are some of the largest in Norwich and owned by Aviva.