Neighbouring Occupiers such as Timpson, Costa Coffee, Poundland, Iceland, Boots, Superdrug, The Works and Numerous Local Retailers
Lot 28
Auction 9th May 2024
Rent £40,000 per Annum Exclusive
Status Available
Guide* £525,000+
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
3.5 miles east of Plymouth City Centre, 45 miles south-west of Exeter, 54 miles east of Truro
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport
Situation
The property forms part of the established pedestrianised Broadway Shopping Centre in the predominantly residential area of Plymstock, 3.5 miles east of Plymouth City Centre. Neighbouring occupiers include Timpson, Costa Coffee, Poundland, Iceland, Boots, Superdrug, The Works and numerous local retailers.
The shopping centre benefits from being adjacent to a public car park with spaces for approximately 341 cars.
Tenure
Virtual Freehold. Held on a lease for 999 years from completion at a peppercorn ground rent.
Location
Miles
3.5 miles east of Plymouth City Centre, 45 miles south-west of Exeter, 54 miles east of Truro
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport
Situation
The property forms part of the established pedestrianised Broadway Shopping Centre in the predominantly residential area of Plymstock, 3.5 miles east of Plymouth City Centre. Neighbouring occupiers include Timpson, Costa Coffee, Poundland, Iceland, Boots, Superdrug, The Works and numerous local retailers.
The shopping centre benefits from being adjacent to a public car park with spaces for approximately 341 cars.
Tenure
Virtual Freehold. Held on a lease for 999 years from completion at a peppercorn ground rent.
Description
The property comprises a modern detached retail unit on the ground floor only, trading as a coffee shop.
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 a modern detached retail unit on the ground floor only, trading as a coffee shop.
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 (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Reversion
Ground
Retail
146.91
(1,581)
COSTA LIMITED (t/a Costa Coffee) (2)
10 years from 16/01/2017
£40,000
15/01/2027
Total Approximate Floor Area
146.91
(1,581)
£40,000
(1) The floor areas stated above have been taken from the Valuation Office Agency (https://www.tax.service.gov.uk/business-rates-find/valuations/start/10790787000) (2) For the year ended 31/12/2022 Costa Limited reported a turnover of £1,117,450,000, pre-tax profit of £245,950,000 and a net worth of £362,372,000 (Source: Northrow 18/04/2024)
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.
