Let to Argos Limited until July 2025 on a Recently Renewed Lease
Located on Prime Retailing Thoroughfare
Nearby occupiers include McDonalds, BHS, Natwest, Halifax and New Look
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 39
Auction 19th May 2016
Rent £60,000 per Annum Exclusive
Status Sold
Price £600,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south-west of Bristol
Roads
A380, A38, A385, M5
Rail
Torquay Railway Station
Air
Exeter International Airport
Situation
The property is prominently situated on the western side of Union Street, Torquay's prime retailing thoroughfare. Union Square Shopping Centre is a short walk away and houses retailers including
Wilko, O2, Savers and JJB Sports. Other nearby occupiers include McDonalds, BHS, Natwest, Halifax and New Look.
Tenure
Freehold.
Location
Miles
22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south-west of Bristol
Roads
A380, A38, A385, M5
Rail
Torquay Railway Station
Air
Exeter International Airport
Situation
The property is prominently situated on the western side of Union Street, Torquay's prime retailing thoroughfare. Union Square Shopping Centre is a short walk away and houses retailers including
Wilko, O2, Savers and JJB Sports. Other nearby occupiers include McDonalds, BHS, Natwest, Halifax and New Look.
Tenure
Freehold.
Description
The property comprises a large double fronted unit comprising ground floor retail accommodation and ancillary accommodation on lower ground, mezzanine and first floors.
Six Week Completion
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 large double fronted unit comprising ground floor retail accommodation and ancillary accommodation on lower ground, mezzanine and first floors.
Six Week Completion
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 31/07/2015 until 30/07/2025 on a full repairing and insuring lease
£60,000
31/07/2020 (2)
Total
1,117.05 sq m
(12,023 sq ft)
£60,000
(1) For the year ending 28th February 2015, Argos Limited reported a turnover of £3,919,176,000, pre-tax profits of £97,146,000 and a total net worth of £1,202,554,000. (Source: Experian Group 18/04/2016) (2) The lease provides an option to determine on 31/07/2020