15 Union Street Torquay Devon TQ1 1ES

15 Union Street
Torquay
Devon
TQ1 1ES

Prime Freehold Retail Investment

  • Let to Waterstones Booksellers Ltd until 2046 (no breaks)
  • Sublet to 99p Stores Limited
  • Prominent position on Torquay’s prime retail thoroughfare
  • Nearby occupiers include Primark, H&M, WH Smith, Holland & Barrett and River Island
  • VAT free investment
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    24
  • Auction
    22nd October 2015
  • Rent
    £152,500 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,800,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Trinity College Cambridge
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Prime Freehold Retail Investment

  • Let to Waterstones Booksellers Ltd until 2046 (no breaks)
  • Sublet to 99p Stores Limited
  • Prominent position on Torquay’s prime retail thoroughfare
  • Nearby occupiers include Primark, H&M, WH Smith, Holland & Barrett and River Island
  • VAT free investment
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 24
  • Auction 22nd October 2015
  • Rent
  • Status Sold
  • Price £1,800,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Trinity College Cambridge

Property Information

Location
Miles
22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south of Bristol
Roads
A380, A38, A385, M5
Rail
Torquay Railway Station
Air
Exeter International Airport
Situation

The property is prominently situated on the east side of pedestrianised Union Street, the town’s prime retail thoroughfare. Nearby occupiers include Primark, H&M, WH Smith, Holland & Barrett and River Island.

Tenure

Freehold.

Location
Miles
22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south of Bristol
Roads
A380, A38, A385, M5
Rail
Torquay Railway Station
Air
Exeter International Airport
Situation

The property is prominently situated on the east side of pedestrianised Union Street, the town’s prime retail thoroughfare. Nearby occupiers include Primark, H&M, WH Smith, Holland & Barrett and River Island.

Tenure

Freehold.

Description

The property comprises ground and first floor retail accommodation with ancillary accommodation on the second floor. The property benefits from rear access via Pimlico.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises ground and first floor retail accommodation with ancillary accommodation on the second floor. The property benefits from rear access via Pimlico.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews
Ground
First
Second
Retail/Ancillary
Retail/Ancillary
Ancillary
479.92 sq m
224.45 sq m
204.29 sq m
(5,166 sq ft)
(2,416 sq ft)
(2,199 sq ft)
WATERSTONES BOOKSELLERS
LTD (1) SUBLET TO 99P STORES
LIMITED (2)
Approximately 31 years & 10 months from 09/05/2014 until 27/03/2046 £152,500 25/03/2018 &
25/03/2032
Totals
908.66 sq m
(9,781 sq ft)
    £152,500  

(1) Waterstones are booksellers and currently trade from approximately 250 branches throughout the UK. (Source: www.waterstones.com)
(2)The property is sublet to 99p Stores Limited for 10 years from 9th May 2014 until 8th May 2024. Started in 2001, a family run business, 99p Stores is the UK’s second largest single price point retailer, with over 250 stores nationwide and 2 million customers every week (Source: www.99pstoresltd). Poundland Group Plc and 99p Stores Limited are pleased to announce that they have signed a conditional sale and purchase agreement for Poundland to acquire 99p Stores for an enterprise value of £55 million. (Source: http://www.poundland.co.uk 15/09/2015).

Property Documents

  • Site Plan
    Updated Date
    30.09.15
    File Size
    70 KB
    View PDF
  • Catalogue Page
    Updated Date
    30.09.15
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Associate Auctioneers
Bidwells LLP 25 Old Burlington Street
London
W1S 3AN
Mike Fox 0207 297 6273mike.fox@bidwells.co.uk
Seller's Solicitors
Mills & Reeve Botanic House, 100 Hills Road
Cambridge
CB2 1PH
Laura Ludlow 01223 222 366laura.ludlow@mills-reeve.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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