12-14 Bank Street Newquay Cornwall TR7 1JF

12-14 Bank Street
Newquay
Cornwall
TR7 1JF

Freehold Retail Investment

Let to Zone Retail (t/a Shoe Zone) (formerly Oliver Timpson Retail)
Prime pedestrianised location in Newquay town centre
Nearby occupiers include Boots the Chemist, Superdrug, Superdry and Costa
Popular coastal town and tourist destination
VAT free Investment
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
25
Auction
23rd March 2016
Rent
£69,000 per Annum Exclusive
Status
Sold
Price
£714,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Receivers CBRE

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Freehold Retail Investment

Let to Zone Retail (t/a Shoe Zone) (formerly Oliver Timpson Retail)
Prime pedestrianised location in Newquay town centre
Nearby occupiers include Boots the Chemist, Superdrug, Superdry and Costa
Popular coastal town and tourist destination
VAT free Investment
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 25
Auction 23rd March 2016
Rent £69,000 per Annum Exclusive
Status Sold
Price £714,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Receivers CBRE

Property Information

Location

Miles: 14 miles north of Truro, 50 miles west of Plymouth
Roads: A30, A39, A392
Rail: Newquay Railway Station
Air: Cornwall Airport Newquay

Situation

Newquay is a popular and important tourist destination situated on the northern coast of Cornwall. The property is prominently situated on the south side of pedestrianised Bank Street, the prime retailing pitch in Newquay town centre. Nearby occupiers include Boots the Chemist, Superdrug, Superdry and Costa, with Newquay Bus Station to the rear of the property.

Tenure

Freehold.

Location

Miles: 14 miles north of Truro, 50 miles west of Plymouth
Roads: A30, A39, A392
Rail: Newquay Railway Station
Air: Cornwall Airport Newquay

Situation

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with self-contained ancillary accommodation on the first and second floors.The first and second floors can also be accessed from within the retail unit.

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

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 First Second	Retail/Ancillary Storage Storage	234.00 sq m 44.30 sq m 69.10 sq m	(2,519 sq ft) (477 sq ft) (744 sq ft)	ZONE RETAIL (t/a Shoe Zone) (formerly Oliver Timpson Retail) (1)	25 years from 25/12/1992 on a full repairing and insuring lease	£69,000	24/12/2017
Totals		347.40 sq m	(3,740 sq ft)			£69,000

(1) Shoe Zone operate from over 500 stores within the UK and Republic of Ireland. Shoe Zone Retail Limited are currently paying the rent. (Source: www.shoezone.com). For the year ending 4th October 2014, Shoe Zone Retail Limited reported a turnover of £172,861,000, pre-tax profits of £11,235,000 and a total net worth of £29,677,000 (Source: Experian Group 22/02/2016).