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.
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.