Freehold Retail Investment
Freehold Retail Investment
Torquay is a popular seaside resort town in Devon on the west coast of England, 22 miles south of Exeter and 32 miles east of Plymouth. The property is situated the town centre on the pedestrianised Union Street, Torquays prime retailing thoroughfare close to its junction with Market Street and 600 metres from Torquay Harbour. Nearby occupiers including Primark, Costa Coffee,Holland & Barrett, Cafe Nero, Nationwide, Primark, Betfred, Boots and Warrens Bakery
Freehold.
Torquay is a popular seaside resort town in Devon on the west coast of England, 22 miles south of Exeter and 32 miles east of Plymouth. The property is situated the town centre on the pedestrianised Union Street, Torquays prime retailing thoroughfare close to its junction with Market Street and 600 metres from Torquay Harbour. Nearby occupiers including Primark, Costa Coffee,Holland & Barrett, Cafe Nero, Nationwide, Primark, Betfred, Boots and Warrens Bakery
Freehold.
The property comprises a ground floor shop with ancillary accommodation above at first and second floors.
VAT is not applicable to this lot.
Six Week Completion
Band D. See legal pack at www.acuitus.co.uk
The property comprises a ground floor shop with ancillary accommodation above at first and second floors.
VAT is not applicable to this lot.
Six Week Completion
Band D. See legal pack at www.acuitus.co.uk
| Floor | Use | Floor Areas (Approx) |
Tenant | Term | Rent p.a.x | Review/ (Reversion) |
|
|---|---|---|---|---|---|---|---|
| Ground First Second |
Retail Ancillary Ancillary |
78 sq m 37 sq m 36 sq m |
(840 sq ft) (398 sq ft) (388 sq ft) ) |
EE Limited (1)(3) | 5 years from 4/08/2020 on a Full Repairing and Insuring lease (2) |
£22,500 | 2023 (2025) (2) |
| Total |
151 sq m |
(1,626 sq ft) |
£22,500 | ||||
(1) The tenant has been in occupation for 20 years, with no other branches in Torquay.
(2) Tenants option to determine in the 3rd year
(3) For the year ending 31st March 2019, EE limited reported a turnover of £7,149,000,000, a Pre-tax profit of £1,440,000,000 and total assets of £8,590,000,000 (Source: SmartSearch 02/06/2020)
EE, part of the BT Group, runs the UK's biggest and fastest mobile network, offering 4G in more places than any other UK network. EEs retail presence exceeds more than 600 shops across the UK (Source: www.ee.co.uk)
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
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