99 Market Jew Street Penzance Cornwall TR18 2LE

99 Market Jew Street
Penzance
Cornwall
TR18 2LE

Freehold Retail Investment

  • Entirely let to Mountain Warehouse Limited
  • 2014 tenant break option removed
  • Prime retail location adjacent to Boots the Chemist and Superdrug
  • Popular tourist resort town
  • VAT free investment
  • Producing £55,000 p.a.x. (Note 3)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    27
  • Auction
    23rd March 2016
  • Rent
    £55,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £515,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Receivers CBRE
Important Update
  • Expand
  • Photos
  • Map

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

Freehold Retail Investment

  • Entirely let to Mountain Warehouse Limited
  • 2014 tenant break option removed
  • Prime retail location adjacent to Boots the Chemist and Superdrug
  • Popular tourist resort town
  • VAT free investment
  • Producing £55,000 p.a.x. (Note 3)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 27
  • Auction 23rd March 2016
  • Rent
  • Status Sold
  • Price £515,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Receivers CBRE

Property Information

Location
Miles
33 miles south-west of Newquay, 75 miles south-west of Plymouth
Roads
A30, A3071, A394
Rail
Penzance Railway Station
Situation

The property is situated in the popular tourist resort of Penzance, on the eastern side of the principal retailing pitch of Market Jew Street, and close to Penzance Railway Station. The property is located a short distance from the Wharfside Shopping Centre, which houses retailers including New Look, Argos and Card Factory. Other nearby occupiers include Boots the Chemist, Superdrug, Poundland, Tesco Express and WH Smith.

Tenure

Freehold.

Location
Miles
33 miles south-west of Newquay, 75 miles south-west of Plymouth
Roads
A30, A3071, A394
Rail
Penzance Railway Station
Situation

The property is situated in the popular tourist resort of Penzance, on the eastern side of the principal retailing pitch of Market Jew Street, and close to Penzance Railway Station. The property is located a short distance from the Wharfside Shopping Centre, which houses retailers including New Look, Argos and Card Factory. Other nearby occupiers include Boots the Chemist, Superdrug, Poundland, Tesco Express and WH Smith.

Tenure

Freehold.

Description

The property, a substantial and attractive building, comprises retail accommodation on the ground and basement floors with ancillary accommodation on the first floor.

Six Week Completion

Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without
personal liability.

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, a substantial and attractive building, comprises retail accommodation on the ground and basement floors with ancillary accommodation on the first floor.

Six Week Completion

Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without
personal liability.

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 Reversion
Ground
Basement
Basement
First
Retail/Ancillary
Retail
Ancillary
Ancillary
245.82 sq m
177.63 sq m
53.42 sq m
41.16 sq m
(2,646 sq ft)
(1,912 sq ft)
(575 sq ft)
(443 sq ft)
MOUNTAIN
WAREHOUSE
LIMITED (1)
10 years from
29/06/2009 on a full
repairing and insuring
lease (2)
£55,000 (3) 28/06/2019
Totals  
518.03 sq m
(5,576 sq ft)
    £55,000 (3)

(1) For the year ending 28th February 2015, Mountain Warehouse Limited reported a turnover of £109,894,000, pre-tax profits of £11,961,000 and a total net worth of £37,192,000. (Source: Experian Group 22/02/2016)
(2) The lease is subject to a schedule of condition.
(3) The lease provides for a fixed increase in rent to £55,000 p.a. on 29th June 2016. The seller has agreed to adjust the completion monies so that the property will produce £55,000 p.a.x from completion of the sale.

Property Documents

  • Catalogue Page
    Updated Date
    30.10.19
    File Size
    562 KB
    View PDF
  • Site Plan
    Updated Date
    30.10.19
    File Size
    82 KB
    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

Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street
Leeds
LS1 2HL
Austin Judson 0113 283 2500austin.judson@walkermorris.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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