33 Fleet Street and 4 Rock Road Torquay Devon TQ2 5DJ

  • 33 Fleet Street and 4 Rock Road<br>Torquay<br>Devon<br>TQ2 5DJ

33 Fleet Street and 4 Rock Road
Torquay
Devon
TQ2 5DJ

Freehold Retail Investment

  • Let to Warren James (Jewellers) Limited until 2024 (subject to option)
  • 2017 option to determine NOT exercised
  • Nearby occupiers include H&M, Primark, Tesco Metro and WH Smith
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    35
  • Auction
    25th May 2017
  • Rent
    £25,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £345,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Administrators BDO
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Freehold Retail Investment

  • Let to Warren James (Jewellers) Limited until 2024 (subject to option)
  • 2017 option to determine NOT exercised
  • Nearby occupiers include H&M, Primark, Tesco Metro and WH Smith
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 35
  • Auction 25th May 2017
  • Rent £25,000 per Annum Exclusive
  • Status Sold
  • Price £345,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Administrators BDO

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 situated on the west side of Fleet Street, at its roundabout junction with Union Street in Torquay Town Centre. Nearby occupiers include H&M, Primark, Tesco Metro and WH Smith.

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 situated on the west side of Fleet Street, at its roundabout junction with Union Street in Torquay Town Centre. Nearby occupiers include H&M, Primark, Tesco Metro and WH Smith.

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with office accommodation on the first floor and ancillary accommodation on the second and third floors.

VAT

VAT is not applicable to this lot.

Note

Joint Administrators Kerry Franchina Bailey and Sarah Megan Rayment, both of BDO LLP and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators 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 a ground floor retail unit with office accommodation on the first floor and ancillary accommodation on the second and third floors.

VAT

VAT is not applicable to this lot.

Note

Joint Administrators Kerry Franchina Bailey and Sarah Megan Rayment, both of BDO LLP and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators 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

Floor Use Floor Areas
(Approx)

 Tenant Term Rent p.a.x Review/(Reversion)
Ground
First
Second
Third

 Retail
Office
Ancillary
Ancillary
128.43 sq m
35.53 sq m
48.34 sq m
28.83 sq m
(1,382 sq ft)
(382 sq ft)
(520 sq ft)
(310 sq ft)
 WARREN JAMES
(JEWELLERS)
LIMITED
 10 years from
02/07/2014 on a full
repairing and insuring
lease (2) (3)
 £25,000
 02/07/2019
(01/07/2024)
Total  
241.13 sq m
(2,594 sq ft)
     £25,000
  

(1) For the year ending 31st March 2016, Warren James (Jewellers) Limited reported a turnover of £101,318,000, pre-tax profits of £37,981,000 and a total net worth of £41,972,000 (Source: Experian Group 21/04/2017).
(2) The tenant did not exercise a 2017 option to determine the lease and the notice period has now passed. The lease provides for another tenant option to determine the lease on 2nd July 2020.
(3) The lease is subject to a schedule of condition.

Contacts

Seller's Solicitors
Addleshaw Goddard LLP One St. Peter's Square
Manchester
M2 3DE
Natalie Bromley 0161 934 6445natalie.bromley@addleshawgoddard.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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