Let to River Island Fashion Limited with Guarantee from River Island Clothing Co. Limited
New 5 year lease renewal for September 2022 (subject to option)
Re-based Rent (Previous Rent £72,500 pax)
Tenant in occupation since at least 2009
Approx. 6,275 sq ft (including trading accommodation at first floor)
Nearby retailers include Primark, Holland & Barrett, JD Sports and McDonald's
Lot 27
Auction 3rd November 2022
Rent £30,000 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
On Behalf of Pension Trustees
Property Information
Location
Miles
22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south of Bristol
Roads
A38, A380, A385, M5
Rail
Torquay Railway Station
Air
Exeter International Airport
Situation
The property is prominently situated in the heart of the town centre, on the pedestrianised part of Union Street, Torquay’s prime retailing thoroughfare. Nearby retailers include Primark, Holland & Barrett, JD Sports and McDonald's.
Tenure
Freehold.
Location
Miles
22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south of Bristol
Roads
A38, A380, A385, M5
Rail
Torquay Railway Station
Air
Exeter International Airport
Situation
The property is prominently situated in the heart of the town centre, on the pedestrianised part of Union Street, Torquay’s prime retailing thoroughfare. Nearby retailers include Primark, Holland & Barrett, JD Sports and McDonald's.
Tenure
Freehold.
Description
The purpose built retail property comprises ground and part first floor retail accommodation with ancillary accommodation at basement, part first and second floors. The property benefits from rear access via Lower Union Lane.
VAT
VAT is applicable to this lot.
Note
Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
6 week completion.
EPC
Please see legal pack.
Description
The purpose built retail property comprises ground and part first floor retail accommodation with ancillary accommodation at basement, part first and second floors. The property benefits from rear access via Lower Union Lane.
VAT
VAT is applicable to this lot.
Note
Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
RIVER ISLAND FASHION LIMITED with a guarantee from RIVER ISLAND CLOTHING CO LIMITED (1)
5 years from 30/09/2022 on a full repairing & insuring lease (2)
£30,000
Total
583.00
(6,275)
£30,000
(1) For the year ending 31st December 2021, River Island Clothing Co. Limited reported a turnover of £675,100,000, a pre-tax profit of £60,800,000 and shareholder funds of £152,600,000. (www.northrow.com 06/10/2022). The lease is guaranteed by River Island Clothing Company Limited up until the expiry of the second year of the lease. (2) The lease is subject to a tenant only option to determine on 29/09/2024
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.
