Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
5 miles south-east of St Ives
70 miles south-west of Plymouth
Roads
A30
Rail
Hayle Railway Station
Air
Exeter Airport
Situation
Hayle is an attractive and popular tourist destination situated on the northern coast in one of Cornwall’s World Heritage sites, some 5 miles south-east of St. Ives. The property is situated some 300 metres south-west of Hayle town centre. Nearby occupiers include Lloyds Bank, Asda Superstore and Barclays Bank.
Tenure
Freehold.
Location
Miles
5 miles south-east of St Ives
70 miles south-west of Plymouth
Roads
A30
Rail
Hayle Railway Station
Air
Exeter Airport
Situation
Hayle is an attractive and popular tourist destination situated on the northern coast in one of Cornwall’s World Heritage sites, some 5 miles south-east of St. Ives. The property is situated some 300 metres south-west of Hayle town centre. Nearby occupiers include Lloyds Bank, Asda Superstore and Barclays Bank.
Tenure
Freehold.
Description
The property comprises a cash-and-carry warehouse with ground floor warehouse accommodation and ancillary office space on the first floor. The property benefits from a site area of 0.24 hectares (0.59 acres) with on-site car parking.
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 applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a cash-and-carry warehouse with ground floor warehouse accommodation and ancillary office space on the first floor. The property benefits from a site area of 0.24 hectares (0.59 acres) with on-site car parking.
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 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.
Review
Ground First
Warehouse Office/Ancillary
2,111 sq m 344.20 sq m
(22,723 sq ft) (3,705 sq ft)
GIANT BOOKER LIMITED (1)
25 years from 28/02/2005 until 27/02/2030 on a full repairing and insuring lease (2)
£69,249
28/02/2020 (3)
Totals
2,455.20 sq m
(26,428 sq ft)
£69,249 rising to a minimum of £78,349 pa in 2020
(1) For the year ending 28/03/2014, Giant Booker Limited reported a turnover of £9,200,000, pre-tax profits of £2,000,000 and a total net worth of £222,700,000. (Source: www.riskdisk.com 09/09/2015). (2)The lease provides for a tenant option to determine the lease on 28/02/2025. (3)The lease provides for the rent to be reviewed every 5 years to the greater of the open market rental value or the current rent reserved plus to 2.5% per annum compounded. Therefore, the rent will increase to a minimum of £78,349 per annum exclusive in February 2020 and £88,644 per annum exclusive in 2025.