91 and 92 Pydar Street Truro Cornwall TR1 2BD

  • 91 and 92 Pydar Street<br>Truro<br>Cornwall<br>TR1 2BD

91 and 92 Pydar Street
Truro
Cornwall
TR1 2BD

Major Retail Investment Opportunity in Central Truro

  • Two adjoining shops let to TJX UK (t/a TK MAXX) and Shoe Zone Retail Limited
  • TK Maxx have been in occupation since 2012
  • Substantial floor area of approx. 2,502.60 sq. m. (26,937 sq. ft.) over ground and first floors
  • Loading Bay area at the rear
  • Prime city centre location
  • Attractive and Popular cathedral city
  • Nearby occupiers include New Look, Boots, Jack Wills, Holland & Barrett, HMV and EE
  • Lot
    15
  • Auction
    9th May 2024
  • Rent
    £240,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,500,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of a Major Fund
Important Update
  • Expand
  • Photos
  • Map

Major Retail Investment Opportunity in Central Truro

  • Two adjoining shops let to TJX UK (t/a TK MAXX) and Shoe Zone Retail Limited
  • TK Maxx have been in occupation since 2012
  • Substantial floor area of approx. 2,502.60 sq. m. (26,937 sq. ft.) over ground and first floors
  • Loading Bay area at the rear
  • Prime city centre location
  • Attractive and Popular cathedral city
  • Nearby occupiers include New Look, Boots, Jack Wills, Holland & Barrett, HMV and EE
  • Lot 15
  • Auction 9th May 2024
  • Rent £240,000 per Annum Exclusive
  • Status Sold
  • Price £1,500,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of a Major Fund

Property Information

Location
Miles
12 miles south of Newquay, 80 miles south-west of Exeter
Roads
A390, A39, A30
Rail
Truro Railway Station
Air
Newquay Cornwall Airport
Situation

Truro, known as Cornwall's County Town, is an attractive historic cathedral city which is very popular amongst tourists. The property is prominently situated on the northern side of the busy pedestrianised Pydar Street, the prime retailing thoroughfare in the heart of Truro's city centre. Neighbouring occupiers include New Look, Boots, Jack Wills, Holland & Barrett, HMV and EE.

Tenure

Freehold.

Location
Miles
12 miles south of Newquay, 80 miles south-west of Exeter
Roads
A390, A39, A30
Rail
Truro Railway Station
Air
Newquay Cornwall Airport
Situation

Truro, known as Cornwall's County Town, is an attractive historic cathedral city which is very popular amongst tourists. The property is prominently situated on the northern side of the busy pedestrianised Pydar Street, the prime retailing thoroughfare in the heart of Truro's city centre. Neighbouring occupiers include New Look, Boots, Jack Wills, Holland & Barrett, HMV and EE.

Tenure

Freehold.

Description

The property comprises two adjoining shops providing ground floor retail and first floor ancillary accommodation. The shops benefit from extensive frontages and rear access to load and unload goods.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

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

Description

The property comprises two adjoining shops providing ground floor retail and first floor ancillary accommodation. The shops benefit from extensive frontages and rear access to load and unload goods.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

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

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x.
Ground
First
(91 Pydar Street)
Retail
Ancillary
690.40
1,225.50
(7,431)
(13,191)
TJX UK
(t/a TK MAXX)
(1)
5 year from and including 26/03/2022
(2)
£185,000
Ground
First
(92 Pydar Street)
Retail
Ancillary
316.00
270.00
(3,401)
(2,914)
SHOE ZONE RETAIL LIMITED
(t/a Shoe Zone)
(3)
5 years from and including 11/07/2022
£55,000
Loading Bay       THE CORNWALL COUNCIL 999 years from and including 29/07/2004
(4)
Peppercorn
Total  
2,502.60
(26,937)
   
£240,000

(1) For the year ending 28/01/2023 TJX UK reported a turnover of £3,887,200,000, a Pre-Tax Profit of £172,400,000 and a Net Worth of £679,000,000 (NorthRow 02/04/2024).
(2) The lease provides for a tenant option to determine the lease on 31/01/2026. The tenant removed the 2024 break option.
(3) For the year ending 01/10/2022 Shoe Zone Retail Ltd reported a Turnover of £156,164,000, a Pre-Tax Profit of £13,675,000 and a Net Worth of £39,553,000 (NorthRow 02/04/2024).
(4) With regard to the Loading Bay/Yard, there are rights reserved to use the conduits in the yard that serve 91/92 Pydar Street, to load and unload goods or materials from vehicles on and from the yard and in emergency to pass and repass on foot across the yard.

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
    29.04.24
    File Size
    65 MB
    Login to View
  • Brochure
    Updated Date
    10.05.24
    File Size
    5 MB
    View PDF
  • Common Auction conditions
    Updated Date
    20.05.24
    File Size
    620 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
Seller's Solicitors
Eversheds Sutherland LLP Bridgewater PlaceWater Lane
Leeds
LS11 5DR
0845 498 4994
Stephen Felstead 0845 498 4717stephenfelstead@eversheds-sutherland.com  Hayton Tang +44(0) 113 200 4126haytontang@eversheds-sutherland.com

Useful Links

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

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