72 High Street, Southwold, IP18 6DN

INVESTMENT SUMMARY

  • Southwold is an affluent, charming north Suffolk coastal town.
  • Located 32 miles south east of Norwich, 35 miles north-east of Ipswich, 4 miles off the A12 road which links Great Yarmouth and London.
  • Prominent central location in the heart of the town’s High Street
  • Joules have been trading in this store since August 2014

LOCATION

Southwold, famous for the beach hut-lined promenade, is a picturesque, affluent, charming north Suffolk coastal town situated just off the A12 between Aldeburgh and Lowestoft which provides easy access from London  and connects to the A14 at Ipswich linking to the Midlands.  The nearest train stations to Southwold are at Darsham and Halesworth, both approx. 10 miles away on the East Suffolk Line which serves London Liverpool Street via Ipswich.

Southwold is the home of Adnams Brewery who have several hotels, pubs and a Store & Cafe in the town.

The property is located on the High Street adjacent to White Stuff and Vantastic (opening summer 2025) and close to Crew Clothing, Waterstones, Seasalt, Mountain Warehouse, and Salt Rock trading nearby.  Within the last 12 months Fairfax and Favor, Norfolk Natural Living and Lisa Angel have all opened on Southwold’s High Street, complementing the town’s strong independent retailers who include Collen &Clare, Black Olive Deli and the Two Magpies Bakery.

ACCOMMODATION

The property provides accommodation on the ground floor with the following dimensions and floor areas:-

 

Internal Width (max)15 ft 2 ins4.62 m
Sales Depth80 ft 5 ins24.5 m
Ground Floor1,071 sq ft99,49 sq m
Exterior Storage unit

 

Not inspected.

The Upper Floors (two flats) have been sold off on a long leasehold basis and produce £100 per annum in total.

TENURE

Freehold.

 

LEASE

The property is let to The Harborough Hare Ltd (trading as Joules) on an effectively full repairing and insuring lease for a period of 5 years expiring on 11 May 2028  at a rent of £47,500 pax.

 

COVENANT INFORMATION

Experian Credit Safe report for The Harborough Hare (company number 14504304) highlights:

  • The ultimate holding company of The Harborough Hare Ltd is Next Plc with a turnover over £6bn.
  • The company has a high level of capital available for re-investment .
  • Has a moderate risk financial rating (score of 50) at 15 July 2025.
  • The company has filed a significantly large turnover in their first set of annual accounts which were submitted to the trade registry.
  • The last accounts were filed on 9 November 2024 and reported a turnover of £126,000,000.  The next accounts are due 25 October 2025.
  • This store was retained during the restructure period in late 2022 before the business was bought by Next.

EPC

Further details are available upon request.

 

RATEABLE VALUE

We understand from the Valuation Office Agency
website that the property has the following rating assessment of £30,500.  Interested parties are advised to make their own enquiries.

VAT
The property is elected for VAT.

PROPOSAL
Offers are invited in the region of £625,000 + VAT (Six Hundred and Twenty Five Thousand Pounds + VAT) for the freehold of the property. A purchase at this level will reflect a net initial yield of approximately 7.23% before buyer’s costs.

ANTI MONEY LAUNDERING
In accordance with Anti Money Laundering Legislation, the purchaser will be required to provide proof of identity and address to the selling agents prior to solicitors being instructed.

 

 

Plans

 

Goad Digital Plans are for identification only and not to be scaled as a working drawing and are based upon the Ordnance Survey Map with the permission of The Controller of Her Majesty’s Stationery Office © Crown Copyright 39954X. No part of this plan may be entered into an electronic retrieval system without prior consent of the publisher. Experian, Goad House, Salisbury Square, Hatfield, Hertfordshire, AL9 5BJ. Tel: 01707 636901 Fax: 01707 636907.

Francis Darrah for themselves and as Agents for the proposed Vendor(s) or Lessor(s) give notice: 1. That they do not make or give either in these particulars or in negotiations or otherwise any warranty or representation whatever in relation to the property. 2. Any plan attached to these particulars is for identification purposes only and all measurements are given as a guide and no liability can be accepted for errors arising therefrom. 3. The property being open to inspection any intended purchaser must satisfy himself as to the accuracy of these particulars and he will be deemed to have full knowledge thereof. 4. No liability can be accepted for any misstatement, omission or errors in these particulars. 5. These particulars do not constitute an offer or Contract or any part thereof.

 

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