89 Queen Street Cardiff CF10 2BG

89 Queen Street
Cardiff
CF10 2BG

Prime Retail Parade comprising Four Units (to be offered individually)

  • Retail unit let to Ollie Quinn UK Limited until 2027 (subject to option)
  • Forms part of a retail parade comprising four retail units to be sold as separate lots (lots 34-37)
  • Prime position on Cardiff's Queen Street
  • Forms part of an iconic building also occupied by the flagship Jurys Inn Hotel
  • Diagonally opposite The Capitol Shopping Centre
  • Nearby occupiers include Marks & Spencer, Zara, Pret a Manger and Holland & Barrett
  • Lot
    34
  • Auction
    11th July 2019
  • Rent
    £46,000 per Annum Exclusive
  • Status
    Withdrawn Prior
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • On behalf of a Major PLC
Important Update
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* More information on the term "guide" can be found here

Prime Retail Parade comprising Four Units (to be offered individually)

  • Retail unit let to Ollie Quinn UK Limited until 2027 (subject to option)
  • Forms part of a retail parade comprising four retail units to be sold as separate lots (lots 34-37)
  • Prime position on Cardiff's Queen Street
  • Forms part of an iconic building also occupied by the flagship Jurys Inn Hotel
  • Diagonally opposite The Capitol Shopping Centre
  • Nearby occupiers include Marks & Spencer, Zara, Pret a Manger and Holland & Barrett
  • Lot 34
  • Auction 11th July 2019
  • Rent
  • Status Withdrawn Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • On behalf of a Major PLC

Property Information

Location
Miles
45 miles west of Bristol
42 miles east of Swansea
Roads
A4161, A48, M4 (Junction 32)
Rail
Cardiff Queen Street
Cardiff Central Railway Station
Air
Cardiff Airport
Situation

The property is prominently situated in the heart of Cardiff's prime retail pitch, on the north side of the vibrant pedestrianised Queen Street. The property is located within close proximity of all three of the city's main shopping centres: Capitol Centre, Queens Arcade and St David's Centre. Nearby occupiers include Costa, WH Smith, Zara, Primark, Next, NatWest, Tesco Metro, Lush and The Jurys Inn Hotel.

Tenure

Virtual Freehold. Each lot is to be sold on a 999 year lease from 14/07/1978, less three days, at a peppercorn rent.

Location
Miles
45 miles west of Bristol
42 miles east of Swansea
Roads
A4161, A48, M4 (Junction 32)
Rail
Cardiff Queen Street
Cardiff Central Railway Station
Air
Cardiff Airport
Situation

The property is prominently situated in the heart of Cardiff's prime retail pitch, on the north side of the vibrant pedestrianised Queen Street. The property is located within close proximity of all three of the city's main shopping centres: Capitol Centre, Queens Arcade and St David's Centre. Nearby occupiers include Costa, WH Smith, Zara, Primark, Next, NatWest, Tesco Metro, Lush and The Jurys Inn Hotel.

Tenure

Virtual Freehold. Each lot is to be sold on a 999 year lease from 14/07/1978, less three days, at a peppercorn rent.

Description

The property forms part of an attractive period building and comprises a ground floor retail unit, with basement ancillary accommodation and a mezzanine retail floor. The Jurys Inn Hotel occupies the upper floors of the building, however this does not form part of the sale.

The adjacent retail units, 105-107, 101-103, 99 and 97 Queen Street are lots 17-20 in the catalogue.

VAT

VAT is applicable to this lot.

EPC

Available in the legal pack.

Description

The property forms part of an attractive period building and comprises a ground floor retail unit, with basement ancillary accommodation and a mezzanine retail floor. The Jurys Inn Hotel occupies the upper floors of the building, however this does not form part of the sale.

The adjacent retail units, 105-107, 101-103, 99 and 97 Queen Street are lots 17-20 in the catalogue.

VAT

VAT is applicable to this lot.

EPC

Available in the legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews/
(Breaks)
Unit 89 Ground
Mezzanine
Basement
Retail
Retail
Ancillary
57.14 sq m
35.67 sq m
36.60 sq m
(615 sq ft)
(384 sq ft)
(394 sq ft)
OLLIE QUINN
UK LIMITED
t/a Ollie Quinn
Opticians (1)
10 years from
25/08/2017 until
24/08/2027
£46,000
(2)
25/08/2022
(25/08/2023)
Total     129.41 sq m (1,393 sq ft)     £46,000 (2)  

(1) Ollie Quinn is a boutique eyewear company with 10 stores across the UK (Source: olliequinn.co.uk 17/06/2019).
(2) The contractual rent is £70,000 p.a.x. The tenant is currently benefitting from a reduced rent of £46,000 p.a.x. This agreement commenced on 01/09/2018 and is personal to the seller.

Property Documents

  • Catalogue Page
    Updated Date
    19.06.19
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    19.06.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Osborne Clarke Solicitors One London Wall
London
EC2Y 5EB
Andrew McCormack 0207 105 7276andrew.mccormack@osborneclarke.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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