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
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.
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 £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
