Entirely let to River Island Clothing Co Limited by way of a lease renewal
Rent rebased from £100,000 p.a.x
Excellent trading location on pedestrianised part of Torquay’s prime retail thoroughfare
Tenant in occupation since at least 2009
Nearby occupiers include Primark, New Look, Costa, Boots the Chemist, Holland & Barrett and H&M
Well configured retail unit with sales accommodation on ground and first floors
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 52
Auction 23rd March 2016
Rent £72,500 per Annum Exclusive
Status Sold
Price £750,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On Behalf of Insolvency Practitioners Deloitte
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 in the heart of the town centre, on the pedestrianised part of Union Street, Torquay’s prime retailing thoroughfare. Nearby occupiers include Primark, New Look, Costa, Boots the Chemist and H&M.
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
The property is prominently situated in the heart of the town centre, on the pedestrianised part of Union Street, Torquay’s prime retailing thoroughfare. Nearby occupiers include Primark, New Look, Costa, Boots the Chemist and H&M.
Tenure
Freehold.
Description
The property comprises ground and part first floor retail accommodation with ancillary accommodation at basement, part first and second floors. The property benefits from rear access via Lower Union Lane.
Six Week Completion
Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground and part first floor retail accommodation with ancillary accommodation at basement, part first and second floors. The property benefits from rear access via Lower Union Lane.
Six Week Completion
Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
5 years from 12/10/2015 (2) on a full repairing and insuring lease
£72,500
11/10/2020
Totals
583.00 sq m
(6,275 sq ft)
£72,500
(1) With over 60 years of fashion retailing experience, River Island is one of the most well known brands on the High Street, with over 350 stores across the UK, Ireland and internationally throughout Asia, the Middle East and Europe. (www.riverisland.com) For the year ending 27th December 2014, River Island Clothing Co Limited reported a turnover of £890,400,000, pre-tax profits of £145,800,000 and a total net worth of £279,600,000. (Source: Experian Group 23/02/2016) (2) The lease is subject to a tenant option to determine on 12th October 2018.
