53 Union Street
Torquay
Devon
TQ1 1ET

Freehold Retail Investment

  • Pedestrianised Town Centre Location
  • Let to EE Limited on a renewed 5 year lease (1) (2)
  • Nearby occupiers include Holland & Barrett, Primark, Boots, Cafe Nero, Costa, JD sports
  • 600 metres from Torquay Harbour
  • VAT-free investment
  • Lot
    45
  • Auction
    23/Sep/2020
  • Rent
    £22,500 per Annum Exclusive
  • Status
    Sold
  • Price*
    £257,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Trustees
  • 53 Union Street<br>Torquay<br>Devon<br>TQ1 1ET
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
22 miles south of Exeter
32 miles east of Plymouth
85 miles south-west of Bristol
Roads
A3022, A380, M5 (Junction 31)
Rail
Torquay Railway Station
Air
Exeter International Airport
Situation

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

Tenure

Freehold.

Description

The property comprises a ground floor shop with ancillary accommodation above at first and second floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D. See legal pack at www.acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview/
(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)
£22,5002023
(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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    21.09.20
    File Size
    25 MB
    Login to View
  • Catalogue Page
    Updated Date
    02.09.20
    File Size
    871 KB
    View PDF
  • Site Plan
    Updated Date
    02.09.20
    File Size
    908 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    15.09.20
    File Size
    57 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Associate Auctioneers
Waycotts The Whitehouse , 42-44 The Terrace
Torquay
TQ1 1DE
Nick Wheeldon 01803 403 060property@waycotts.co.uk
Seller's Solicitors
GA Solicitors 25 Lockyer St,
Plymouth
PL1 2QW
Hannah Madders T: 01752 246310Hannah.Madders@GAsolicitors.com

Useful Links

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