Hele Park Ashburton Road Newton Abbot Devon TQ12 6JN

Hele Park
Ashburton Road
Newton Abbot
Devon
TQ12 6JN

  • Hele Park<br>Ashburton Road<br>Newton Abbot<br>Devon<br>TQ12 6JN

Well Located Freehold Retail Park Investment

  • Newly built retail park with 40 car parking spaces
  • Let to Co-Op, Teignview Veterinary Practice, a martial arts academy and a fish & chip take-away restaurant
  • All leases benefit from 5 yearly CPI Linked rental increases
  • Co-Op Let until 2037 (no breaks)
  • Total Site area of approx. 0.34 Ha (0.84 Acres)
  • Located in a busy residential suburb with many residential developments recently completed and currently being built
  • Lot
    11
  • Auction
    15th February 2024
  • Rent
    £153,500 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,960,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
7 miles north of Torquay, 15 miles south of Exeter
Roads
A381, A38
Rail
Newton Abbot Railway Station
Air
Bristol International Airport, Exeter Airport
Situation

Newton Abbot is a historic market town in Devon, approximately 7 miles north of Torquay and 15 miles south of Exeter. The property is extremely well situated on the north side of Ashburton Road (A383) in a sprawling and expanding residential area just 1 mile west of Newton Abbott town centre. The retail park is conveniently located to service the wider residential area which has seen several significant housing developments in recent years.

Tenure

Freehold.

Location
Miles
7 miles north of Torquay, 15 miles south of Exeter
Roads
A381, A38
Rail
Newton Abbot Railway Station
Air
Bristol International Airport, Exeter Airport
Situation

Newton Abbot is a historic market town in Devon, approximately 7 miles north of Torquay and 15 miles south of Exeter. The property is extremely well situated on the north side of Ashburton Road (A383) in a sprawling and expanding residential area just 1 mile west of Newton Abbott town centre. The retail park is conveniently located to service the wider residential area which has seen several significant housing developments in recent years.

Tenure

Freehold.

Description

The property comprises a newly built retail park currently arranged to provide a supermarket, martial arts academy, veterinary practice and fish & chip take-away restaurant together with 40 car parking spaces on a site area of 0.34 Ha (0.84 Acres).

VAT

VAT is applicable to this lot.

Note

To view a 360 degree walkthrough of the property please click here - https://helepark.thevirtualprospectus.com/

Completion Period

Six week completion

EPC

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

Description

The property comprises a newly built retail park currently arranged to provide a supermarket, martial arts academy, veterinary practice and fish & chip take-away restaurant together with 40 car parking spaces on a site area of 0.34 Ha (0.84 Acres).

VAT

VAT is applicable to this lot.

Note

To view a 360 degree walkthrough of the property please click here - https://helepark.thevirtualprospectus.com/

Completion Period

Six week completion

EPC

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

Tenancy & Accommodation

Floor Use Approx. Gross Internal Floor Area sq m Approx. Gross Internal Floor Area (sq. ft.) Tenant Term Rent p.a.x. Rent Review
Ground Retail
424.56
(4,750)
CO-OPERATIVE GROUP FOOD LTD
(1)
15 years from 10/01/2022
£111,000
5 yearly
(2)
Ground Leisure
92.90
(1,000)
FIGHTWORX ACADEMY NEWTON ABBOT LTD t/a FWX 10 years from 28/10/2022
(4)
£15,000
5 yearly
(3)
Ground Retail
92.90
(1,000)
INDIVIDUAL
t/a Emerald Fish & Chips
15 years from 18/11/2022
£15,000
5 yearly
(3)
Ground Veterinary Practice
92.90
(1,000)
TEIGN VIEW VETERINARY PRACTICE LTD t/a Bay Vet Group
(6)
20 years from 18/01/2022
(5)
£12,500
5 yearly
(3)
Total  
703.26
(7,750)
   
£153,500
 

(1) For the year ending 31/12/2022 Co-Operative Group Food Ltd reported a Turnover of £8,040,600,000 (www.mutuals.fca.org.uk) and is part of Co-operative Group Limited, a British consumer co-operative with a family of retail businesses including food retail, wholesale, e-pharmacy, insurance and legal services, and funeral care. The Co-operative Group has over 65,000 employees across the UK and over 2,500 food and convenience stores (www.co-operative.coop).
(2) CPI linked rent reviews to a minimum of 1% and a maximum of 3% compounded annually.
(3) CPI linked rent reviews to a minimum of 1% and a maximum of 4% compounded annually.
(4) The lease provides for a tenant option to determine the lease on the fifth anniversary of the term.
(5) The lease provides for a tenant option to determine the lease on the tenth anniversary of the term.
(6) Founded in 2000, the Bay Vet Group provide veterinary services from 5 practices in the local area including Torquay, Teignmouth, Paignton and Dawlish with 15 registered vets practicing from these premises.

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

  • Solicitors Legal Pack
    Updated Date
    06.02.24
    File Size
    247 MB
    Login to View
  • Brochure
    Updated Date
    19.02.24
    File Size
    3 MB
    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
Jon SkerryJon Skerry +44 (0)20 7034 4863 +44 (0)7736 300 594jon.skerry@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Associate AuctioneersNoel Tiffney 0207 1128 046noel@belmore-re.com
Seller's Solicitors
Awdry Law LLP 2 Gateway North, Latham Road
Swindon
Wiltshire
SN25 4DL
Tim Hotchkiss 01793 384140tim.hotchkiss@awdry.law

Useful Links

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

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