1, 2 & 3 Magnolia Walk (23 Rolle Street) Exmouth Devon EX8 1HW

1, 2 & 3 Magnolia Walk (23 Rolle Street)
Exmouth
Devon
EX8 1HW

Freehold Retail Investment

  • Two retail units situated in Exmouth’s prime retail pitch
  • Let to New Look Retailers Limited and Hays Travel Limited
  • Prominent corner position in pedestrianised town centre location
  • Nearby occupiers include Boots the Chemist, WH Smith, Superdrug, Costa and Caffè Nero
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    21
  • Auction
    7th July 2016
  • Rent
    £93,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,015,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of Receivers CBRE
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail Investment

  • Two retail units situated in Exmouth’s prime retail pitch
  • Let to New Look Retailers Limited and Hays Travel Limited
  • Prominent corner position in pedestrianised town centre location
  • Nearby occupiers include Boots the Chemist, WH Smith, Superdrug, Costa and Caffè Nero
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 21
  • Auction 7th July 2016
  • Rent
  • Status Sold
  • Price £1,015,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of Receivers CBRE

Property Information

Location
Miles
10 miles south-east of Exeter
35 miles south-west of Taunton
Roads
A376, A30, A38, M5 (Junction 30)
Rail
Exmouth Railway Station
Air
Exeter International Airport
Situation

Exmouth is a popular east Devon seaside resort town located 15 miles from Dartmoor National Park. The property is situated in a prominent corner position on the south side of Magnolia Walk, at its junction with Rolle Street in the heart of the town centre.
Nearby occupiers include Boots the Chemist, WH Smith, Superdrug, Costa and Caffè Nero.

Tenure

Freehold.

Location
Miles
10 miles south-east of Exeter
35 miles south-west of Taunton
Roads
A376, A30, A38, M5 (Junction 30)
Rail
Exmouth Railway Station
Air
Exeter International Airport
Situation

Exmouth is a popular east Devon seaside resort town located 15 miles from Dartmoor National Park. The property is situated in a prominent corner position on the south side of Magnolia Walk, at its junction with Rolle Street in the heart of the town centre.
Nearby occupiers include Boots the Chemist, WH Smith, Superdrug, Costa and Caffè Nero.

Tenure

Freehold.

Description

The property comprises two ground floor retail units with ancillary accommodation on the first and second floors. Unit 1 has a main frontage to Rolle Street with a small return frontage to Magnolia Walk, and Unit 2 & 3 has a main frontage and return frontage to Magnolia Walk.

VAT

VAT is applicable to this lot.

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.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises two ground floor retail units with ancillary accommodation on the first and second floors. Unit 1 has a main frontage to Rolle Street with a small return frontage to Magnolia Walk, and Unit 2 & 3 has a main frontage and return frontage to Magnolia Walk.

VAT

VAT is applicable to this lot.

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.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
1 Ground
First
Retail/Ancillary
Ancillary
52 sq m
44 sq m
(560 sq ft)
(474 sq ft)
HAYS TRAVEL LIMITED
(1)
10 years from 03/02/2016 (2) £18,000 03/08/2021
(02/02/2026)
2 & 3 Ground
First
Second
Retail/Ancillary
Ancillary
Ancillary
211 sq m
182 sq m
256 sq m
(2,271 sq ft)
(1,959 sq ft)
(2,756 sq ft)
NEW LOOK RETAILERS
LIMITED (3)
20 years from 18/08/1998 £75,000 (17/08/2018)
Totals    
745.00 sq m
(8,020 sq ft)
    £93,000

(1) For the year ending 31st October 2015, Hays Travel Limited reported a turnover of £305,983,589, pre-tax profits of £6,826,634 and a total net worth of £18,141,774.
(Source: Experian Group 06/06/2016)
(2) The lease provides for a tenant option to determine on the 5th anniversary of the term.
(3) For the year ending 28th March 2015, New Look Retailers Limited reported a turnover of £1,310,401,000, pre-tax profits of £145,471,000 and a total net worth of £307,168,000 (Source: Experian Group 23/02/2016)

Property Documents

  • Site Plan
    Updated Date
    30.10.19
    File Size
    106 KB
    View PDF
  • Catalogue Page
    Updated Date
    30.10.19
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street
Leeds
LS1 2HL
Adam Reed 0113 283 2500adam.reed@walkermorris.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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