122 - 126 Union Street Torquay Devon TQ2 5QB

122 - 126 Union Street
Torquay
Devon
TQ2 5QB

Freehold Retail Investment

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
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment

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

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.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground Lower Ground Mezzanine First	Retail Ancillary Ancillary Ancillary	577.26 sq m 360.31 sq m 38.46 sq m 141.02 sq m	(6,213 sq ft) (3,878 sq ft) (413 sq ft) (1,517 sq ft)	ARGOS LIMITED (1)	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