Entirely let to Co-operative Group Limited until 2033 (subject to option)
Includes 3 car parking spaces and a 3 bedroom flat
Rent reviews linked to CPI subject to a minimum of 1% per annum and a maximum of 3%
Located just off the the A3058, providing links to St Austell and Newquay
Lot 22
Auction 23rd May 2019
Rent £32,000 per Annum Exclusive
Status Sold
Price £510,000
Sector Supermarket/Convenience
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
5 miles west of St Austell
11 miles south-east of Newquay
11 miles north-east of Truro
Roads
A3058, A390, A30
Rail
St Austell
Air
Cornwall Airport Newquay
Situation
St Stephen-in-Brannel is a predominantly residential suburb located equidistant from Newquay to the north-east and Truro to the south-west. The property is located on the north side of the A3058, which provides links to St Austell and Newquay.
Tenure
Freehold.
Location
Miles
5 miles west of St Austell
11 miles south-east of Newquay
11 miles north-east of Truro
Roads
A3058, A390, A30
Rail
St Austell
Air
Cornwall Airport Newquay
Situation
St Stephen-in-Brannel is a predominantly residential suburb located equidistant from Newquay to the north-east and Truro to the south-west. The property is located on the north side of the A3058, which provides links to St Austell and Newquay.
Tenure
Freehold.
Description
The property comprises ground floor convenience store accommodation and part ground and first floor residential accommodation that comprises a three bedroom flat. The property benefits from three customer parking spaces at the front.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Bands C and D. See legal pack at acuitus.co.uk
Description
The property comprises ground floor convenience store accommodation and part ground and first floor residential accommodation that comprises a three bedroom flat. The property benefits from three customer parking spaces at the front.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Bands C and D. See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground Part Ground and First
Convenience Store Residential
268.58 sq m 126.00 sq m
(2,891 sq ft) (1,356 sq ft)
CO-OPERATIVE GROUP LIMITED (1)
15 years from 29/09/2018 until 28/09/2033 (2) on a full repairing and insuring lease
£32,000
29/09/2023 29/09/2028. Rent reviews linked to CPI (min of 1%/ max 3%)
Total
394.58 sq m
(4,247 sq ft)
£32,000
(1) For the year ending 6th January 2018, Co-operative Group Limited reported a turnover of £9,470,000,000, pre-tax profits of £72,000,000 and a total net worth of £2,191,000,000 (Source: Experian Group 26/04/2019). (2) The lease provides for a tenant option to determine on 29/09/2028.
