Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Trinity College Cambridge
Property Information
Location
Miles
22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south of Bristol
Roads
A380, A38, A385, M5
Rail
Torquay Railway Station
Air
Exeter International Airport
Situation
The property is prominently situated on the east side of pedestrianised Union Street, the town’s prime retail thoroughfare. Nearby occupiers include Primark, H&M, WH Smith, Holland & Barrett and River Island.
Tenure
Freehold.
Location
Miles
22 miles south of Exeter, 32 miles east of Plymouth, 85 miles south of Bristol
Roads
A380, A38, A385, M5
Rail
Torquay Railway Station
Air
Exeter International Airport
Situation
The property is prominently situated on the east side of pedestrianised Union Street, the town’s prime retail thoroughfare. Nearby occupiers include Primark, H&M, WH Smith, Holland & Barrett and River Island.
Tenure
Freehold.
Description
The property comprises ground and first floor retail accommodation with ancillary accommodation on the second floor. The property benefits from rear access via Pimlico.
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 not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground and first floor retail accommodation with ancillary accommodation on the second floor. The property benefits from rear access via Pimlico.
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 not 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
Ground First Second
Retail/Ancillary Retail/Ancillary Ancillary
479.92 sq m 224.45 sq m 204.29 sq m
(5,166 sq ft) (2,416 sq ft) (2,199 sq ft)
WATERSTONES BOOKSELLERS LTD (1) SUBLET TO 99P STORES LIMITED (2)
Approximately 31 years & 10 months from 09/05/2014 until 27/03/2046
£152,500
25/03/2018 & 25/03/2032
Totals
908.66 sq m
(9,781 sq ft)
£152,500
(1) Waterstones are booksellers and currently trade from approximately 250 branches throughout the UK. (Source: www.waterstones.com) (2)The property is sublet to 99p Stores Limited for 10 years from 9th May 2014 until 8th May 2024. Started in 2001, a family run business, 99p Stores is the UK’s second largest single price point retailer, with over 250 stores nationwide and 2 million customers every week (Source: www.99pstoresltd). Poundland Group Plc and 99p Stores Limited are pleased to announce that they have signed a conditional sale and purchase agreement for Poundland to acquire 99p Stores for an enterprise value of £55 million. (Source: http://www.poundland.co.uk 15/09/2015).
Contacts
Associate Auctioneers
Bidwells LLP 25 Old Burlington Street London W1S 3AN
