37-38 Market Street Falmouth Cornwall TR11 3AR

37-38 Market Street
Falmouth
Cornwall
TR11 3AR

Freehold Retail Investment

Let to Trespass Enterprise Limited (t/a Trespass)
New 10 year extended lease from April 2025 (subject to options)
Rebased rent from £46,000 pa
Approx. 408.87 sq m (4,401 sq ft) over ground, first and second floors
Residential conversion potential (subject to lease and consents, fronting Falmouth Harbour)
Popular Cornish seaside and University town
Nearby occupiers include Boots the Chemist, Superdrug, Mountain Warehouse, Costa Coffee and Caffe Nero
VAT-free investment

Lot
22
Auction
15th May 2025
Rent
£40,000 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Live Streamed Auction

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Freehold Retail Investment

Let to Trespass Enterprise Limited (t/a Trespass)
New 10 year extended lease from April 2025 (subject to options)
Rebased rent from £46,000 pa
Approx. 408.87 sq m (4,401 sq ft) over ground, first and second floors
Residential conversion potential (subject to lease and consents, fronting Falmouth Harbour)
Popular Cornish seaside and University town
Nearby occupiers include Boots the Chemist, Superdrug, Mountain Warehouse, Costa Coffee and Caffe Nero
VAT-free investment

Lot 22
Auction 15th May 2025
Rent £40,000 per Annum Exclusive
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 11 miles south-west of Truro, 18 miles south of Newquay, 26 miles east of Penzance
Roads: A39, A394, A393
Rail: Falmouth Town Railway Station
Air: Cornwall Airport Newquay

Situation

Falmouth is a popular seaside town in Cornwall, approximately 11 miles south of Truro. The property is situated in Falmouth's prime retailing pitch on the north side of the busy Market Street. Nearby occupiers include Boots the Chemist, Superdrug, Mountain Warehouse, Costa and Caffe Nero.

Tenure

Freehold.

Location

Miles: 11 miles south-west of Truro, 18 miles south of Newquay, 26 miles east of Penzance
Roads: A39, A394, A393
Rail: Falmouth Town Railway Station
Air: Cornwall Airport Newquay

Situation

Tenure

Freehold.

Description

The property comprises a large shop arranged over ground, first and second floors.

VAT

VAT is not applicable to this lot.

EPC

C70.

Description

The property comprises a large shop arranged over ground, first and second floors.

VAT

VAT is not applicable to this lot.

EPC

C70.

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (3)	Floor Areas Approx sq ft (3)	Tenant	Term	Rent p.a.x.	Rent Review
Ground First Second	Retail Ancillary Ancillary	166.90 106.12 135.85	(1,796) (1,142) (1,462)	TRESPASS ENTERPRISE LIMITED (1)	10 years from 20/04/2025 until 19/04/2035 (2)	£40,000	20/04/2030
Total		408.87	(4,400)			£40,000

(1) Trespass operate from over 300 stores in the UK and Europe (www.trespass.com).
(2) The property is currently let by way of a lease expiring on 19/04/2025 at a rent of £46,000 pa. A new extended lease has recently completed for a term of 10 years from 20/04/2025 at a rent of £40,000 p.a.x. with tenant options to determine the lease on 20/04/2028 and 20/04/2031.
(3) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).

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.