Newly Refurbished and Extended Freehold Convenience Store With On Site Car Parking
Majority let to Co-Operative Group Food Limited
New 15 year lease from September 2025 - no breaks
5 yearly CPI linked rent reviews - capped and collared at 1% - 3% per annum / 5% - 15% increase each review.
Includes on site parking for 14 cars
Includes new vacant independent first floor Class E Unit - 59.4 sq m (639 sq ft.). Possible residential use, subject to consents
Lot 7
Auction 11th December 2025
Rent £85,000 per Annum Exclusive Plus new vacant independent first floor Class E Unit of 59.45 sq m (639 sq ft)
Status Available
Guide* £1,350,000
Sector Supermarket/Convenience
Auction Venue Live Streamed Auction
Property Information
Location
Miles
24 miles south-east of Taunton, 28 miles north-east of Exeter
Roads
A35, A358
Rail
Axminster Railway Station (on the London Waterloo to Exeter Mainline)
Air
Exeter International Airport
Situation
The property is situated in a mixed commercial and residential area right in the heart of Axminster’s town centre with its array of shopping facilities and amenities. The building sits prominently at the junction of Lyme Street, South Street and George Street.
Tenure
Freehold.
Location
Miles
24 miles south-east of Taunton, 28 miles north-east of Exeter
Roads
A35, A358
Rail
Axminster Railway Station (on the London Waterloo to Exeter Mainline)
Air
Exeter International Airport
Situation
The property is situated in a mixed commercial and residential area right in the heart of Axminster’s town centre with its array of shopping facilities and amenities. The building sits prominently at the junction of Lyme Street, South Street and George Street.
Tenure
Freehold.
Description
The property comprises a newly refurbished and extended Co-Op convenience store arranged on the entire ground floor and the vast majority of the first floor with lift and stairs. The balance of the first floor comprises a vacant south-facing completely independent Class E Unit (59.4 sq m (639 sq ft.)). with staircase and balcony, having possible residential use, subject to consents. The property also benefits from car parking for 14 spaces.
VAT
VAT is applicable to this lot.
EPC
The Convenience Store and the Independent Class E Unit are both Band A.
Description
The property comprises a newly refurbished and extended Co-Op convenience store arranged on the entire ground floor and the vast majority of the first floor with lift and stairs. The balance of the first floor comprises a vacant south-facing completely independent Class E Unit (59.4 sq m (639 sq ft.)). with staircase and balcony, having possible residential use, subject to consents. The property also benefits from car parking for 14 spaces.
VAT
VAT is applicable to this lot.
EPC
The Convenience Store and the Independent Class E Unit are both Band A.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground First
Retail/Ancillary Ancillary Car Park - 14 spaces
259.3 174.5 -
(2,792) (1,879) -
CO-OPERATIVE GROUP FOOD LIMITED (t/a Co-Op)
15 years from 16/09/2025 until 15/09/2040 (1)
£85,000
16/09/2030 and 16/09/2035 (1)
First
Class E
59.4
(639)
VACANT (2)
-
-
-
Total
493.2
(5,310)
£85,000
(1)The lease is subject to upward only CPI-linked rent reviews in 2030 and 2035 capped & collared at 1%-3% per annum, meaning 5%-15% increase at each review. (2) The independent first floor Class E Unit benefits from mains electricity and mains drainage connections, mains water is pending.
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.
