1/2 Market Jew Street Penzance Cornwall TR18 2HN

1/2 Market Jew Street
Penzance
Cornwall
TR18 2HN

  • 1/2 Market Jew Street<br>Penzance<br>Cornwall<br>TR18 2HN

Freehold Town Centre Retail Investment

  • Let to Blacks Outdoor Retail Limited (a part of JD Sports Fashion Plc)
  • New 5 year lease renewal from June 2021 (subject to option)
  • Re-based rent
  • Central High Street location in popular tourist resort
  • Close to Wharfside Shopping Centre with other nearby occupiers including Tesco Express, Co-op Food, Sports Direct, JD Wetherspoon, Superdrug and Boots the Chemist.
  • Lot
    28
  • Auction
    12/Jul/2022
  • Rent
    £25,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £320,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
33 miles south-west of Newquay, 75 miles south-west of Plymouth
Roads
A30, A3071, A394
Rail
Penzance Railway Station
Situation

The property is situated in the popular tourist resort of Penzance, on the western side of the principal retailing pitch of Market Jew Street, and 300 metres from Penzance Railway Station. The property is located a short distance from the Wharfside Shopping Centre, which includes retailers such as Costa, Iceland and numerous independent retailers. Other nearby occupiers include Tesco Express, Co-op Food, Sports Direct, JD Wetherspoon, Superdrug and Boots the Chemist.

Tenure

Freehold.

Location
Miles
33 miles south-west of Newquay, 75 miles south-west of Plymouth
Roads
A30, A3071, A394
Rail
Penzance Railway Station
Situation

The property is situated in the popular tourist resort of Penzance, on the western side of the principal retailing pitch of Market Jew Street, and 300 metres from Penzance Railway Station. The property is located a short distance from the Wharfside Shopping Centre, which includes retailers such as Costa, Iceland and numerous independent retailers. Other nearby occupiers include Tesco Express, Co-op Food, Sports Direct, JD Wetherspoon, Superdrug and Boots the Chemist.

Tenure

Freehold.

Description

The property comprises a shop arranged on the ground floor with ancillary accommodation arranged on the first, second and third floors. The property benefits from a loading bay at the rear.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a shop arranged on the ground floor with ancillary accommodation arranged on the first, second and third floors. The property benefits from a loading bay at the rear.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x.
Ground
First
Second
Third
Retail/Ancillary
Ancillary
Ancillary
Ancillary
183.86
167.41
60.85
48.03
(1,979)
(1,802)
(655)
(517)
BLACKS OUTDOOR RETAIL LIMITED (1)
(t/a Millets)
5 years from 24/06/2021 (2) on a full repairing and insuring lease
£25,000
Total  
460.15
(4,953)
   
£25,000

(1) Blacks Outdoor Retail Limited are a wholly owned subsidiary of JD Sports Fashion Plc (www.millets.co.uk)
(2) The lease benefits from a tenant only option to break in year 3, subject to 6 months' notice. The tenant will be liable for a break penalty of £12,500 plus VAT if they exercise their break.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Brochure
    Updated Date
    22.06.22
    File Size
    628 KB
    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

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Edward MartinEdward Martin +44 (0)20 7034 4854 +44 (0)7478 673 535edward.martin@acuitus.co.uk
Seller's Solicitors
Solomon Taylor & Shaw 3 Coach House Yard, Hampstead High Street
London
NW3 1QF
Barry Shaw 0207 317 8679barry@solts.co.uk

Useful Links

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

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