Let to Jurassic Coast Coffee Ltd with guarantee t/a Costa Coffee until 2031 (no breaks)
Prominent position in heart of town centre
Popular seaside resort town
Nearby occupiers include Holland & Barrett, Sea Salt, Fat Face, EWM and Crew Clothing
Lot 40
Auction 11th July 2018
Rent £45,000 per Annum Exclusive
Status Sold
Price £650,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Trustees
Property Information
Location
Miles
15 miles south east of Exeter
28 miles south west of Taunton
Roads
A3052, A30, M5 (Junction 30)
Air
Exeter Airport
Situation
Sidmouth is a popular and affluent seaside town on the Jurassic Coast in Devon. The property is situated on the pedestrianised Old Fore Street in the heart of the town centre, just north of The Esplanade. Nearby occupiers include Holland & Barrett, Sea Salt, Fat Face, EWM and Crew Clothing.
Tenure
Freehold.
Location
Miles
15 miles south east of Exeter
28 miles south west of Taunton
Roads
A3052, A30, M5 (Junction 30)
Air
Exeter Airport
Situation
Sidmouth is a popular and affluent seaside town on the Jurassic Coast in Devon. The property is situated on the pedestrianised Old Fore Street in the heart of the town centre, just north of The Esplanade. Nearby occupiers include Holland & Barrett, Sea Salt, Fat Face, EWM and Crew Clothing.
Tenure
Freehold.
Description
The property is an attractive two storey building comprising a ground floor café with further café seating at first floor together with ancillary accommodation.
VAT
VAT is not 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 is an attractive two storey building comprising a ground floor café with further café seating at first floor together with ancillary accommodation.
VAT
VAT is not 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
Reviews
Ground First
Café/Ancillary Café/Ancillary
102.5 sq m 78.87 sq m
(1,101 sq ft) (848 sq ft)
JURASSIC COAST COFFEE LIMITED guaranteed by Premiere Coffee Limited (1) t/a Costa Coffee
15 years from 29/09/2016 until 28/09/2031 on a full repairing and insuring lease
£45,000
29/09/2021 29/09/2026
Total
181.30 sq m
(1,949 sq ft)
£45,000
(1) Jurassic Coast Coffee Limited is a subsidiary of Premiere Coffee Limited. Premiere Coffee Limited is a Costa Coffee franchisee and operates 57 Costas across the South West. For the year ending 30th November 2017, Premiere Coffee Limited reported a turnover of £22,439,554, pre-tax profits of £1,209,556 and a total net worth of £1,453,320 (Source: Experian Group 12/06/2018).
