New 5 year lease (renewal) from March 2017 (subject to option)
Tenant in occupation since at least 2002 (approx. 16 years)
Prime trading location adjacent to Boots the Chemist and opposite Costa
Popular Cornish market town
Lot 48
Auction 24th May 2018
Rent £30,000 per Annum Exclusive
Status Sold
Price £305,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
24 miles north-west of Plymouth, 50 miles west of Torquay
Roads
A30, A389
Rail
Bodmin Parkway Railway Station
Air
Newquay Airport
Situation
The property is situated in a prime trading location on the southern side of Fore Street, the town’s principal retailing thoroughfare. Nearby occupiers include the adjacent Boots the Chemist, with Costa, Millets, Superdrug and Iceland close by. Other nearby occupiers include Superdrug, Iceland and Holland & Barrett. Dennison Road public car park is approximately 100 metres away, providing car parking for over 60 cars.
Tenure
Freehold.
Location
Miles
24 miles north-west of Plymouth, 50 miles west of Torquay
Roads
A30, A389
Rail
Bodmin Parkway Railway Station
Air
Newquay Airport
Situation
The property is situated in a prime trading location on the southern side of Fore Street, the town’s principal retailing thoroughfare. Nearby occupiers include the adjacent Boots the Chemist, with Costa, Millets, Superdrug and Iceland close by. Other nearby occupiers include Superdrug, Iceland and Holland & Barrett. Dennison Road public car park is approximately 100 metres away, providing car parking for over 60 cars.
Tenure
Freehold.
Description
The property comprises a ground floor shop with separately accessed accommodation (not in use) on the first and second floors.
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 ground floor shop with separately accessed accommodation (not in use) on the first and second floors.
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
Reversion
Ground First/Second
Retail/Ancillary -
239.40 sq m -
(2,577 sq ft) (-)
WH SMITH RETAIL HOLDINGS LIMITED (1) t/a WHSmith
5 years from 25/03/2017 on a full repairing and insuring lease (2)
£30,000
24/03/2022
Total
239.40 sq m
(2,577 sq ft)
£30,000
(1) For the year ending 31st August 2017, WH Smith Retail Holdings Limited reported a turnover of £181,024,000, pre-tax profits of £67,219,000 and a total net worth of £449,954,000 (Source: Experian Group 26/04/2018). (2) The lease is subject to a tenant option to determine on 24/03/2020. The lease is full repairing and insuring, subject to a Schedule of Condition.
