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
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
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.
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
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.
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).