39-41 Torwood Street Torquay Devon TQ1 1DZ

39-41 Torwood Street
Torquay
Devon
TQ1 1DZ

Freehold Bar/Restaurant/Nightclub Investment

First time on market for at least 20 years
Well located in main leisure area of town
Prominent corner position close to the Harbour
Two restaurant units with nightclub
Entirely let until 2028 (no breaks)
Six Week Completion Available

Lot
24
Auction
21st March 2013
Rent
£154,000 per Annum Exclusive
Status
Sold
Price
£950,000
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA

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Freehold Bar/Restaurant/Nightclub Investment

First time on market for at least 20 years
Well located in main leisure area of town
Prominent corner position close to the Harbour
Two restaurant units with nightclub
Entirely let until 2028 (no breaks)
Six Week Completion Available

Lot 24
Auction 21st March 2013
Rent £154,000 per Annum Exclusive
Status Sold
Price £950,000
Sector
Leisure
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA

Property Information

Location

Miles: 25 miles south of Exeter,35 miles east of Plymouth
Roads: A380, A385
Rail: Torquay Rail
Air: Bristol International Airport

Situation

The property is situated in a prominent corner location on the southern side of Torwood Street, at its junction with Parkhill Road in the main leisure district in the town centre. Nearby occupiers include AMF Bowling, McColls Convenience Store and a number of other independent retailers.

Tenure

Freehold.

Location

Miles: 25 miles south of Exeter,35 miles east of Plymouth
Roads: A380, A385
Rail: Torquay Rail
Air: Bristol International Airport

Situation

Tenure

Freehold.

Description

The property comprises a restaurant, a bar/restaurant and a nightclub over two levels.

VAT

VAT is applicable to this lot.

EPC

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

Description

The property comprises a restaurant, a bar/restaurant and a nightclub over two levels.

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

No.	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
39	Restaurant	415.09 sq m	(4,468 sq ft)	INDIVIDUALS (t/a Simla Spice Indian Restaurant)	24 years from 12/08/2004 until 11/08/2028	£32,000	11/08/2014 and five yearly
41	Bar/ Restaurant	610.28 sq m	(6,569 sq ft)	HENNESSY RESTAURANT LIMITED (t/a Hennessy Restaurant & Cocktail Lounge)	24 years from 24/06/2004 until 22/04/2028	£32,000	29/09/2014 and five yearly
41	Nightclub	935.16 sq m	(10,066 sq ft)	JAM LEISURE LIMITED (t/a Bohemia Nightclub) (1)	40 years from 22/04/1988 until 21/04/2028	£90,000	03/04/2013 and five yearly
Totals		1,960.53 sq m	(21,103 sq ft) (2)			£154,000