Pydar Mews
Truro
Cornwall
TR1 2UX

Freehold Retail Parade

  • City centre location
  • Includes a mews of 9 retail units situated in a prime position on Pydar Street
  • Neighbouring occupiers include Superdry, WH Smith, Boots, TK Maxx, Lush, The Body Shop, Halifax and TSB
  • Lot
    61
  • Auction
    18/Oct/2018
  • Rent
    £54,775 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Property Update
  • Pydar Mews<br>Truro<br>Cornwall<br>TR1 2UX
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Property Information

Location
Miles
12 miles south of Newquay, 80 miles south-west of Exeter
Roads
A390, A39, A30
Rail
Truro Railway Station
Air
Newquay Cornwall Airport
Situation

Truro is an attractive historic cathedral city that is popular with tourists. The property is prominently situated in the heart of Truro city centre on the south side of the pedestrianised Pydar Street, the town’s prime retail thoroughfare. Neighbouring occupiers include Superdry, WH Smith, Boots, TK Maxx, Lush, The Body Shop, and Halifax and TSB banks.

Tenure

Freehold.

Description

The property comprises an attractive mews of 11 retail units, seven of which comprise ground floor retail accommodation and first floor storage accommodation. Four units comprise ground and part first floor retail accommodation and part first floor storage accommodation.

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

UnitFloorUseFloor Areas (Approx)TenantTerm Rent p.a.x. Review/
(Reversion)
1Ground
First
Retail
Storage
13 sq m
14.2 sq m
(140 sq ft)
(153 sq ft)
INDIVIDUAL
t/a Just Books
6 years from
24/03/2017 (1)
£7,500(23/03/2023)
2 & 3Ground
First
Retail
Retail/Storage
26.3
sq m
21
sq m
(283 sq ft)
(226 sq ft)
VACANT
POSSESSION (2)
   
4 & 5Ground
First
Retail
Retail/Storage
36.9
sq m
33.5
sq m
(397 sq ft)
(361 sq ft)
INDIVIDUAL
t/a Bambu Coffee
Shop & Cafe
9 years from
06/07/2012
£15,000(05/07/2021)
Car Parking
space
    INDIVIDUAL
t/a Bambu Coffee
Shop & Cafe
 £625(05/07/2021)
6Ground
First
Retail
Storage
12.2
sq m
16.1
sq m
(131 sq ft)
(173 sq ft)
INDIVIDUAL t/a The
Watchmen of Truro
6 years from
01/05/2013
£7,25001/05/2019
(30/04/2019)
7Ground
First
Retail
Storage
13.2
sq m
10.2
sq m
(112 sq ft)
(87 sq ft)
INDIVIDUAL
t/a Pydar Jewellers
6 years from
18/09/2018 (3)
£5,400(17/09/2018)
8Ground
First
Retail
Storage
10.4 sq m
8.1 sq m
(112 sq ft)
(87 sq ft)
INDIVIDUAL
t/a Lisa Harker - Quality Art
3 years from
01/10/2017 (4)
£5,00001/10/2018
(30/09/2020)
9Ground
First
Retail
Storage
10.4 sq m
8.1 sq m
(112 sq ft)
(87 sq ft)
VACANT
POSSESSION.
Terms agreed for
new lease (5)
   
10Ground
First
Retail
Storage
13.2 sq m
10.2 sq m
(142 sq ft)
(110 sq ft)
INDIVIDUAL
t/a Fantasy Fayre
6 years from
18/01/2016 (6)
£6,50001/01/2019
(17/01/2022)
11Ground
First
Retail
Storage
11.8 sq m
17 sq m
(127 sq ft)
(183 sq ft)
INDIVIDUAL
t/a Barber
6 years from
02/02/2018 (7)
£7,50002/02/2021
(02/02/2024)
Total
285.8 sq
m
(3,076 sq
ft)
  £54,775 

(1) As to unit 1, the lease provides for a tenant option to determine on 24/03/2020 subject to 6 months’ notice in writing.
(2) As to unit 3, the seller is in advanced negotiations with a new tenant to sign a new lease for unit 3 only at a rent of £5,400 per annum exclusive.
(3) As to unit 7, terms have been agreed or the tenant to sign a new lease for a term of 6 years at a rent of £5,400 per annum exclusive but not yet documented, but is anticipated to complete imminently.
(4) As to unit 8, the tenant has served notice to determine the lease on 01/01/2019 and agreed a new Tenancy at Will to occupy the property until 2019.
(5) As to unit 9, the Seller has agreed terms with a new tenant at a rent of £5,600 per annum exclusive. The lease and rent deposit deed are awaiting signature.
(6) As to unit 10, the tenant has served notice to determine the lease on 01/01/2019.
(7) As to unit 11, the lease provides for a tenant option to determine on 02/02/2021 subject to 6 months’ notice in writing.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    16.10.18
    File Size
    75 MB
    Login to View
  • Site Plan
    Updated Date
    26.09.18
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    26.09.18
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44(0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Temple Bright 29 Great George Street
Bristol
BS1 5QT
Will Forrest 0117 325 3885will.forrest@templebright.com

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