25 Fore Street Redruth Cornwall TR15 2BQ

25 Fore Street
Redruth
Cornwall
TR15 2BQ

Freehold Supermarket Investment

  • Let to Iceland Foods Limited until February 2030 (no breaks)
  • 2025 tenant break option removed
  • 5 yearly fixed rental increases at 2.5% per annum compounded
  • Approximately 12,560 sq ft
  • Nearby occupiers include Superdrug, Wilkinson, Boots the Chemist, Peacocks and branches of Lloyds, Halifax and Barclays banks
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    37
  • Auction
    7th July 2016
  • Rent
    £82,310 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Sector
    Supermarket
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
Important Update
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* More information on the term "guide" can be found here

Freehold Supermarket Investment

  • Let to Iceland Foods Limited until February 2030 (no breaks)
  • 2025 tenant break option removed
  • 5 yearly fixed rental increases at 2.5% per annum compounded
  • Approximately 12,560 sq ft
  • Nearby occupiers include Superdrug, Wilkinson, Boots the Chemist, Peacocks and branches of Lloyds, Halifax and Barclays banks
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 37
  • Auction 7th July 2016
  • Rent
  • Status Sold Prior
  • Price  
  • Sector
    Supermarket
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG

Property Information

Location
Miles
9 miles west of Truro, 17 miles north-east of Penzance
Roads
A30, A39, A394
Rail
Redruth Railway Station
Air
Newquay Airport
Situation

The property is prominently positioned on the northern side of Fore Street, close to its junction with Alma Place, in the heart of the town centre. Nearby occupiers include Superdrug, Wilkinson, Boots the Chemist, Peacocks and branches of Lloyds, Halifax and Barclays banks.

Tenure

Freehold.

Location
Miles
9 miles west of Truro, 17 miles north-east of Penzance
Roads
A30, A39, A394
Rail
Redruth Railway Station
Air
Newquay Airport
Situation

The property is prominently positioned on the northern side of Fore Street, close to its junction with Alma Place, in the heart of the town centre. Nearby occupiers include Superdrug, Wilkinson, Boots the Chemist, Peacocks and branches of Lloyds, Halifax and Barclays banks.

Tenure

Freehold.

Description

The property comprises a ground floor supermarket with ancillary accommodation on the lower ground, first and second floors. The property benefits from a secondary entrance to the rear of the store that opens onto the customer car parking area with parking for about 45 cars.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises a ground floor supermarket with ancillary accommodation on the lower ground, first and second floors. The property benefits from a secondary entrance to the rear of the store that opens onto the customer car parking area with parking for about 45 cars.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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 Fixed Rental
Uplifts/(Reversion)
Ground
Lower Ground
First
Second
Supermarket/Ancillary
Ancillary
Ancillary
Ancillary
593.63 sq m
15.28 sq m
516.62 sq m
41.33 sq m
(6,390 sq ft)
(164 sq ft)
(5,561 sq ft)
(445 sq ft)
ICELAND
FOODS
LIMITED (1)
25 years from
28/02/2005 on a
full repairing and
insuring lease
£82,310 rising to
£93,126 in Feb 2020
and to £105,364 in
Feb 2025
28/02/2020
28/02/2025
(27/02/2030)
Totals  
1,166.82 sq m
(12,560 sq ft)
    £82,310

(1) For the year ending 27th March 2015, Iceland Foods Limited reported a turnover of £2,682,021,000, pre-tax profits of £58,794,000 and a total net worth of £709,630,000. (Source: Experian Group 25/05/2016).

Property Documents

  • Site Plan
    Updated Date
    13.11.19
    File Size
    135 KB
    View PDF
  • Catalogue Page
    Updated Date
    13.11.19
    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

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Associate Auctioneers
Lewis & Partners 15-19 Cavendish Place
London
W1G OQE
Stephen Raingold 020 7580 4333stephenraingold@lewisandpartners.com
Seller's Solicitors
Collier Bristow LLP 4 Bedford Row
London
WC1R 4TF
Simon Edwards 0207 468 7358simon.edwards@collierbristow.co.uk

Useful Links

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

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