Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
43 miles south-west of Exeter, 120 miles south-west of Bristol
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Situation
The property is located in a mid terrace parade on the east side of Mutley Plain, a prominent arterial route one mile north-east of Plymouth city centre. The property benefits from close proximity to Plymouth University. Nearby occupiers include Aldi, Costa Coffee, Co-operative Food, Superdrug, KFC, Domino’s Pizza, Boots the Chemist and JD Wetherspoon.
Tenure
Freehold.
Location
Miles
43 miles south-west of Exeter, 120 miles south-west of Bristol
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Situation
The property is located in a mid terrace parade on the east side of Mutley Plain, a prominent arterial route one mile north-east of Plymouth city centre. The property benefits from close proximity to Plymouth University. Nearby occupiers include Aldi, Costa Coffee, Co-operative Food, Superdrug, KFC, Domino’s Pizza, Boots the Chemist and JD Wetherspoon.
Tenure
Freehold.
Description
The property comprises a convenience store arranged on the ground, basement and first floors and a coffee shop arranged on the ground and first floors.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
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 convenience store arranged on the ground, basement and first floors and a coffee shop arranged on the ground and first floors.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Basement Ground
First
Ancillary Convenience Store Ancillary
199.93 sq m 329.81 sq m
285.77 sq m
(2,152 sq ft) (3,550 sq ft)
(3,076 sq ft)
SAINSBURY’S SUPERMARKETS LIMITED (1)
15 years from 05/10/2012 (2) on a full repairing and insuring lease
£86,000
05/10/2017 and 5 yearly thereafter linked to RPI (3)
Ground First
Retail Ancillary
130.06 sq m 24.43 sq m
(1,400 sq ft) (263 sq ft)
13 MUTLEY PLAIN LIMITED with a PERSONAL GUARANTEE (t/a Barista Brothers) (4)
15 years from 07/11/2014 on a full repairing and insuring lease
£15,000
07/11/2015 and annually thereafter linked to RPI (5)
Totals
969.97 sq m
(10,441 sq ft)
£101,000
(1) For the year ending 15th March 2014, Sainsbury’s Supermarkets Ltd reported a turnover of £23,919,000,000, pre-tax profits of £810,000,000 and a total net worth of £4,706,000,000. (Source: Experian Group 17/09/2015) (2)The lease provides for a tenant option to determine in October 2022. (3) The lease is subject to five yearly rent reviews linked to the Retail Price Index, subject to a minimum of 1.5% and a maximum of 3.5% compounded per annum. (4) Barista Brothers is a coffee franchise with three outlets in Devon and Dorset. (5) The lease is subject to annual rent reviews linked to the Retail Price Index, subject to a minimum of 2.5% and a maximum of 4% compounded per annum
