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.