3-4 Market Jew Street Penzance Cornwall TR18 2HN

3-4 Market Jew Street
Penzance
Cornwall
TR18 2HN

Freehold Retail and Commercial Investment

Shop currently let to Trespass Leases Limited with a separately accessed gym on the upper floors (t/a Oxygen Health Club)
Trespass break clause operated - tenant vacating September 2023
Gym lease expires June 2033 (subject to mutual option)
Approximately 5,448 sq ft
Close to Wharfside Shopping Centre
Nearby retailers include Tesco Express, Co-op Convenience Store, Boots the Chemist, Superdrug, WHSmith, Sports Direct, Saltrock, Domino's and JD Wetherspoon

Lot
44
Auction
13th July 2023
Rent
£36,500 per Annum Exclusive
(2)
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Freehold Retail and Commercial Investment

Shop currently let to Trespass Leases Limited with a separately accessed gym on the upper floors (t/a Oxygen Health Club)
Trespass break clause operated - tenant vacating September 2023
Gym lease expires June 2033 (subject to mutual option)
Approximately 5,448 sq ft
Close to Wharfside Shopping Centre
Nearby retailers include Tesco Express, Co-op Convenience Store, Boots the Chemist, Superdrug, WHSmith, Sports Direct, Saltrock, Domino's and JD Wetherspoon

Lot 44
Auction 13th July 2023
Rent £36,500 per Annum Exclusive (2)
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 33 miles south-west of Newquay, 75 miles south-west of Plymouth
Roads: A30, A394, A3071
Rail: Penzance Railway Station
Air: Exeter Airport

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 Wharfside Shopping Centre, which includes retailers such as Costa, Iceland and numerous independent retailers. Nearby retailers include Tesco Express, Co-op Convenience Store, Boots the Chemist, Superdrug, WHSmith, Sports Direct, Saltrock, Domino's and JD Wetherspoon.

Tenure

Freehold.

Location

Miles: 33 miles south-west of Newquay, 75 miles south-west of Plymouth
Roads: A30, A394, A3071
Rail: Penzance Railway Station
Air: Exeter Airport

Situation

Tenure

Freehold.

Description

The property comprises a shop arranged on the ground floor with a separately accessed gym arranged on the first and second floors, accessed from the front.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band B

Description

The property comprises a shop arranged on the ground floor with a separately accessed gym arranged on the first and second floors, accessed from the front.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band B

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review
Ground	Retail/Ancillary	170.02 (1)	(1,830) (1)	TRESPASS LEASES LIMITED (2)	5 years from 07/09/2020 (2)	£20,000	-
First Second	Gymnasium Gymnasium	164.44 171.68	(1,770) (1,848)	I. HUMPHREYS & M. HUMPHREYS (t/a Oxygen Health Club) (3)	15 years from 18/06/2018 (4)	£16,500	18/06/2028
Total		506.14	(5,448)			£36,500

(1) Areas provided by VOA (www.tax.service.gov.uk/business-rates).
(2) The tenant (Trespass Leases Limited) has served notice to exercise their option to determine the lease on 07/09/2023.
(3) Oxygen Health Club is a fully equipped gym based in the heart of Penzance offering with a complete cardio suite, free-weights area and barbell section (www.oxygenstrengthandfitness.co.uk)
(4) The lease is subject to a mutual option to determine on 18/06/2028.

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.