Let to Warren James (Jewellers) Limited until 2024 (subject to option)
2017 option to determine NOT exercised
Nearby occupiers include H&M, Primark, Tesco Metro and WH Smith
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 35
Auction 25th May 2017
Rent £25,000 per Annum Exclusive
Status Sold
Price £345,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of Administrators BDO
Property Information
Location
Miles
22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south-west of Bristol
Roads
A380, A38, A385, M5
Rail
Torquay Railway Station
Air
Exeter International Airport
Situation
The property is situated on the west side of Fleet Street, at its roundabout junction with Union Street in Torquay Town Centre. Nearby occupiers include H&M, Primark, Tesco Metro and WH Smith.
Tenure
Freehold.
Location
Miles
22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south-west of Bristol
Roads
A380, A38, A385, M5
Rail
Torquay Railway Station
Air
Exeter International Airport
Situation
The property is situated on the west side of Fleet Street, at its roundabout junction with Union Street in Torquay Town Centre. Nearby occupiers include H&M, Primark, Tesco Metro and WH Smith.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with office accommodation on the first floor and ancillary accommodation on the second and third floors.
VAT
VAT is not applicable to this lot.
Note
Joint Administrators Kerry Franchina Bailey and Sarah Megan Rayment, both of BDO LLP and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
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 retail unit with office accommodation on the first floor and ancillary accommodation on the second and third floors.
VAT
VAT is not applicable to this lot.
Note
Joint Administrators Kerry Franchina Bailey and Sarah Megan Rayment, both of BDO LLP and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
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
Review/(Reversion)
Ground First Second Third
Retail Office Ancillary Ancillary
128.43 sq m 35.53 sq m 48.34 sq m 28.83 sq m
(1,382 sq ft) (382 sq ft) (520 sq ft) (310 sq ft)
WARREN JAMES (JEWELLERS) LIMITED
10 years from 02/07/2014 on a full repairing and insuring lease (2) (3)
£25,000
02/07/2019 (01/07/2024)
Total
241.13 sq m
(2,594 sq ft)
£25,000
(1) For the year ending 31st March 2016, Warren James (Jewellers) Limited reported a turnover of £101,318,000, pre-tax profits of £37,981,000 and a total net worth of £41,972,000 (Source: Experian Group 21/04/2017). (2) The tenant did not exercise a 2017 option to determine the lease and the notice period has now passed. The lease provides for another tenant option to determine the lease on 2nd July 2020. (3) The lease is subject to a schedule of condition.
