11-12 Fore Street
PL21 9AB

Freehold Retail Investment

  • Let to Day Lewis Plc on a new reversionary 10 year lease (2)
  • 12 years unexpired term
  • Adjacent to Glanvilles Mill Shopping Centre
  • Nearby occupiers include Co-operative Food, Lloyds Bank and The Post Office
  • Lot
  • Auction
  • Rent
    £40,632 per Annum Exclusive
  • Status
    Sold Prior
  • Price*
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Trustees
Important Auction & Property Update
  • 11-12 Fore Street<br>Ivybridge<br>Devon<br>PL21 9AB
  • Expand
  • Photos
  • Map

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

Property Information

11 miles north-east of Plymouth
32 miles south west of Exeter
A38 (Devon Expressway)
Ivybridge Rail
Exeter International Airport

Ivybridge is a popular town in Devon situated on the southern boundary of Dartmoor National Park. The property is prominently situated on Fore Street, adjacent to the Glanvilles Mill Shopping Centre. Nearby occupiers include Co-operative Food, Lloyds Bank, Salvation Army and The Post Office.




The property comprises a ground floor retail unit with selfcontained first floor office accommodation, which has been sub-let.


VAT is applicable to this lot.

Completion Period

Six Week Completion


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

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview/
220.27 sq m
81.47 sq m
(2,371 sq ft)
(877 sq ft)
(1) (2)
A term of years
21/07/2030 on a
full repairing and
insuring lease (3)
301.74 sq m
(3,248 sq ft)  £40,632 

(1) The Day Lewis Group is an award winning family business, consisting of one of the largest independent pharmacy chains in the UK and Europe. Day Lewis employs over 2,500 people, owning and managing over 300 pharmacies in the UK today, with the management rights to the pharmacy concession in Harrods (Source: www.daylewis.co.uk 18/01/2018).
(2) The first floor has been sub-let on a licence to NHS Partnership Trust expiring in July 2020 at a rent of £9,900 per annum.
(3) Day Lewis Plc are currently occupying the property on a lease assigned from Boots the Chemist Limited by way of an Authorised Guarantee Agreement at a rent of £39,439.86 p.a.x. rising to £40,031.60 p.a.x. in April 2019 and £40,631.92 p.a.x. in April 2020. This lease is due to terminate on 21/07/2020. In addition, Day Lewis Plc have entered into a reversionary lease for a further 10 years at a rent of £40,632 p.a.x. expiring 21/07/2030 (no breaks). Day Lewis Plc will benefit from a 12 month rent free period. The seller has agreed to adjust the completion monies so that the unit will effectively produce £40,632 p.a.x. from completion of the sale.

Property Documents

  • Catalogue Page
    Updated Date
    File Size
    663 KB
    View PDF
  • Site Plan
    Updated Date
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    File Size
    143 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    File Size
    27 KB
    View PDF


Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863 +44 (0)7899 877 224georgina.roberts@acuitus.co.uk
Seller's Solicitors
Gowling WLG Two Snowhill
B4 6WR
Nisha Minhas 0121 393 0648Nisha.Minhas@gowlingwlg.com

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