Let to 13 Mutley Plain Limited with a personal guarantee t/a Barista Brothers until 2029
Prominent main road location close to Plymouth University
Nearby occupiers include Aldi, Costa Coffee, Tesco Express, Superdrug, KFC, Boots the Chemist and JD Wetherspoon
Lot 79
Auction 7th December 2017
Rent £16,153 per Annum Exclusive
Status Sold
Price £177,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
43 miles south-west of Exeter, 120 miles south-west of Bristol
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport
Situation
The property is prominently located in a parade on the east side of Mutley Plain, a prominent arterial route one mile north-east of Plymouth city centre. The property benefits from close proximity to Plymouth University. Nearby occupiers include Aldi, Costa Coffee, Tesco Express, Superdrug, KFC, Boots the Chemist and JD Wetherspoon.
Tenure
Virtual Freehold. Long Leasehold for a term of 999 years at a peppercorn
rent.
Location
Miles
43 miles south-west of Exeter, 120 miles south-west of Bristol
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport
Situation
The property is prominently located in a parade on the east side of Mutley Plain, a prominent arterial route one mile north-east of Plymouth city centre. The property benefits from close proximity to Plymouth University. Nearby occupiers include Aldi, Costa Coffee, Tesco Express, Superdrug, KFC, Boots the Chemist and JD Wetherspoon.
Tenure
Virtual Freehold. Long Leasehold for a term of 999 years at a peppercorn
rent.
Description
The property comprises a retail accommodation on the ground and ancillary accommodation on the first floor.
VAT
VAT is applicable to this lot.
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 retail accommodation on the ground and ancillary accommodation on the first floor.
VAT
VAT is applicable to this lot.
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
Ground First
Retail Ancillary
130.06 sq m 24.43 sq m
(1,400 sq ft) (263 sq ft)
13 MUTLEY PLAIN LIMITED with a personal guarantee t/a Barista Brothers (1)
15 years from 07/11/2014 until 06/11/2029
£16,153.36
07/11/2018. Annually linked to RPI (2)
Totals
154.49 sq m
(1,663 sq ft)
£16,153.36
(1) Barista Brothers is a coffee franchise with three outlets in Devon and Dorset (Source: www.baristabrothers.co.uk 8/11/2017). (2) The lease is subject to annual rent reviews linked to the retail price index, subject to a minimum of 2.5% and a maximum of 4% compounded per annum.
