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
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Trinity College Cambridge

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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

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

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

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).