Torquay and Newton Abbot County Court, The Willows 1 Nicholson Road Torquay Devon TQ2 7AZ

  • Torquay and Newton Abbot County Court, The Willows<br>1 Nicholson Road<br>Torquay<br>Devon<br>TQ2 7AZ

Torquay and Newton Abbot County Court, The Willows
1 Nicholson Road
Torquay
Devon
TQ2 7AZ

Substantial Freehold Government-Let Investment

  • Let to The Secretary of State for Communities and Local Government
  • Recently renewed lease from April 2023, expiring in October 2030 (No breaks)
  • Lease renewed at same rent
  • Approximately 10,144 sq ft plus 44 on-site car parking spaces
  • Established commercial location with nearby occupiers including Devon Partnership NHS Trust, Surgicare UK and Bishop Fleming Accountants
  • Adjacent to The Willows Retail Park where occupiers include Marks & Spencer, Sainsbury's, Boots the Chemist and Costa Coffee
  • Lot
    14
  • Auction
    25th September 2024
  • Rent
    £123,750 per Annum Exclusive
    (3)
  • Status
    Sold
  • Price
    £1,250,000
  • Sector
    Office
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Trustees
Important Update
  • Expand
  • Photos
  • Map

Substantial Freehold Government-Let Investment

  • Let to The Secretary of State for Communities and Local Government
  • Recently renewed lease from April 2023, expiring in October 2030 (No breaks)
  • Lease renewed at same rent
  • Approximately 10,144 sq ft plus 44 on-site car parking spaces
  • Established commercial location with nearby occupiers including Devon Partnership NHS Trust, Surgicare UK and Bishop Fleming Accountants
  • Adjacent to The Willows Retail Park where occupiers include Marks & Spencer, Sainsbury's, Boots the Chemist and Costa Coffee
  • Lot 14
  • Auction 25th September 2024
  • Rent £123,750 per Annum Exclusive (3)
  • Status Sold
  • Price £1,250,000
  • Sector
    Office
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Trustees

Property Information

Location
Miles
22 miles south of Exeter, 28 miles east of Plymouth, 80 miles south of Bristol
Roads
A38, A380, A385, M5
Rail
Torquay Railway Station
Air
Exeter International Airport
Situation

The property is prominently situated in an established commercial location, on the east side of Nicholson Road, to the north of Riviera Way (A3022). Nearby office occupiers include Devon Partnership NHS Trust, Surgicare UK and Bishop Fleming Accountants. The property lies adjacent to The Willows Retail Park where occupiers include Marks & Spencer, Sainsbury's, Boots the Chemist and Costa Coffee.

Tenure

Freehold.

Location
Miles
22 miles south of Exeter, 28 miles east of Plymouth, 80 miles south of Bristol
Roads
A38, A380, A385, M5
Rail
Torquay Railway Station
Air
Exeter International Airport
Situation

The property is prominently situated in an established commercial location, on the east side of Nicholson Road, to the north of Riviera Way (A3022). Nearby office occupiers include Devon Partnership NHS Trust, Surgicare UK and Bishop Fleming Accountants. The property lies adjacent to The Willows Retail Park where occupiers include Marks & Spencer, Sainsbury's, Boots the Chemist and Costa Coffee.

Tenure

Freehold.

Description

The property comprises a large court building arranged on the ground, lower ground and first floors. The property benefits from 44 on-site car parking spaces.

VAT

VAT is applicable to this lot.

Viewings

There will be one accompanied viewing on Wednesday 18th September from 4pm, prior to our auction. If you would like to inspect, please confirm your attendance with your name and mobile number to henry.john@acuitus.co.uk

Completion Period

Six Week Completion

EPC

Band B

Description

The property comprises a large court building arranged on the ground, lower ground and first floors. The property benefits from 44 on-site car parking spaces.

VAT

VAT is applicable to this lot.

Viewings

There will be one accompanied viewing on Wednesday 18th September from 4pm, prior to our auction. If you would like to inspect, please confirm your attendance with your name and mobile number to henry.john@acuitus.co.uk

Completion Period

Six Week Completion

EPC

Band B

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m (1)
Floor Areas
(Approx sq ft) (1)
Tenant Term Rent p.a.x. Rent Review
Ground
Lower Ground
First
Office
Ancillary
Office
467.10
20.20
455.30
(5,027)
(217)
(4,900)
THE SECRETARY OF STATE
FOR COMMUNITIES AND
LOCAL GOVERNMENT(2)
(t/a Torquay and Newton
Abbott County Court)
Approximately 7.5 years
from 27/04/2023
until 26/10/2030
£123,750
27/04/2028
Total  
942.60
(10,144)
   
£123,750 (3)
 

(1) Areas provided by VOA (www.gov.uk/find-business-rates)
(2) The Secretary of State for Communities and Local Government uses the property as a County Court and Family Court Hearing Centre for Torquay and Newton Abbott.
(3) The tenant is currently benefitting from a rent free period expiring 27/12/2024. The Seller has confirmed they will top up the rent so the property effectively produces £123,750 p.a.x. from completion of the sale until 27/12/2024.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+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
    18.09.24
    File Size
    52 MB
    Login to View
  • Brochure
    Updated Date
    30.09.24
    File Size
    6 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
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Henry JohnHenry John +44 (0)20 7034 4860 +44 (0)7876 884 320henry.john@acuitus.co.uk
Seller's Solicitors
Hunters Law LLP Lincoln's Inn
9 New Square
London
WC2A 3QN
James Letchford 020 7412 5184james.letchford@hunterslaw.com  Jessica Harris 020 7412 5175jessica.harris@hunterslaw.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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