15 Fore Street
St Stephen
St Austell
PL26 7NN

Freehold Convenience Store Investment

  • 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
    23/May/2019
  • Rent
    £32,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £510,000
  • Sector
    Supermarket
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
Important Auction & Property Update
  • 15 Fore Street<br>St Stephen<br>St Austell<br>PL26 7NN
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* More information on the term "price" can be found here

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.

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

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
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
£32,00029/09/2023
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.

Property Documents

  • Catalogue Page
    Updated Date
    01.05.19
    File Size
    507 KB
    View PDF
  • Site Plan
    Updated Date
    01.05.19
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    15.08.19
    File Size
    144 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
Harold Benjamin Solicitors Hill House, 67-71 Lowlands Road
Harrow
Middlesex
HA1 3EQ
020 8864 7530
Varsha Sood 020 8872 3028varsha.sood@haroldbenjamin.com

Useful Links

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