Booker Cash & Carry Unit 16 Foundry Square Hayle, Nr St. Ives Cornwall TR27 4HT

Booker Cash & Carry Unit
16 Foundry Square
Hayle, Nr St. Ives
Cornwall
TR27 4HT

Freehold Cash & Carry Warehouse Investment

Let to Giant Booker Limited until 2030 (subject to option)
Five yearly rent reviews to the greater of open market rental value or 2.5% per annum compounded
Adjacent to Hayle Harbour
Approximate site area of 0.24 hectares (0.59 acres) with on-site car parking
Producing £69,249 p.a.x. Rising to a minimum of £78,349 p.a.x. in 2020 and £88,644 p.a.x. in 2025
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
32
Auction
10th December 2015
Rent
£69,249 per Annum Exclusive
Status
Sold
Price
£940,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Cash & Carry Warehouse Investment

Let to Giant Booker Limited until 2030 (subject to option)
Five yearly rent reviews to the greater of open market rental value or 2.5% per annum compounded
Adjacent to Hayle Harbour
Approximate site area of 0.24 hectares (0.59 acres) with on-site car parking
Producing £69,249 p.a.x. Rising to a minimum of £78,349 p.a.x. in 2020 and £88,644 p.a.x. in 2025
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 32
Auction 10th December 2015
Rent £69,249 per Annum Exclusive
Status Sold
Price £940,000
Sector
Industrial, Warehouse
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 5 miles south-east of St Ives; 70 miles south-west of Plymouth
Roads: A30
Rail: Hayle Railway Station
Air: Exeter Airport

Situation

Hayle is an attractive and popular tourist destination situated on the northern coast in one of Cornwall’s World Heritage sites, some 5 miles south-east of St. Ives. The property is situated some 300 metres south-west of Hayle town centre. Nearby occupiers include Lloyds Bank, Asda Superstore and Barclays Bank.

Tenure

Freehold.

Location

Miles: 5 miles south-east of St Ives; 70 miles south-west of Plymouth
Roads: A30
Rail: Hayle Railway Station
Air: Exeter Airport

Situation

Tenure

Freehold.

Description

The property comprises a cash-and-carry warehouse with ground floor warehouse accommodation and ancillary office space on the first floor. The property benefits from a site area of 0.24 hectares (0.59 acres) with on-site car parking.

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

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.	Review
Ground First	Warehouse Office/Ancillary	2,111 sq m 344.20 sq m	(22,723 sq ft) (3,705 sq ft)	GIANT BOOKER LIMITED (1)	25 years from 28/02/2005 until 27/02/2030 on a full repairing and insuring lease (2)	£69,249	28/02/2020 (3)
Totals		2,455.20 sq m	(26,428 sq ft)			£69,249 rising to a minimum of £78,349 pa in 2020

(1) For the year ending 28/03/2014, Giant Booker Limited reported a turnover of £9,200,000, pre-tax profits of £2,000,000 and a total net worth of £222,700,000. (Source: www.riskdisk.com 09/09/2015).
(2)The lease provides for a tenant option to determine the lease on 28/02/2025.
(3)The lease provides for the rent to be reviewed every 5 years to the greater of the open market rental value or the current rent reserved plus to 2.5% per annum compounded. Therefore, the rent will increase to a minimum of £78,349 per annum exclusive in February 2020 and £88,644 per annum exclusive in 2025.