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Status Withdrawn Prior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.