Entirely let to T&S Stores Limited (a subsidiary of Tesco Plc) t/a One Stop Convenience Store
Prominent roadside location within densely populated residential area
Benefits from small service yard area
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
Lot 65
Auction 11th February 2016
Rent £12,750 per Annum Exclusive
Status Sold Prior
Price
Sector Supermarket/Convenience
Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of Joint LPA Receivers
Property Information
Location
Miles
15 miles south of Exeter, 29 miles north-east of Plymouth, 8 miles north-west of Torquay
Roads
A38, A380, A382
Air
Exeter International Airport
Situation
Newton Abbot is a popular market town in South Devon, just west of Dartmoor National Park. The property occupies a prominent corner position fronting both Ashburton Road (A383) and Greenaway Road, in a predominantly residential area just north-west of the town centre.
Tenure
Virtual Freehold. Held for a term of 999 years from 7th December 1995 at a peppercorn rent.
Location
Miles
15 miles south of Exeter, 29 miles north-east of Plymouth, 8 miles north-west of Torquay
Roads
A38, A380, A382
Air
Exeter International Airport
Situation
Newton Abbot is a popular market town in South Devon, just west of Dartmoor National Park. The property occupies a prominent corner position fronting both Ashburton Road (A383) and Greenaway Road, in a predominantly residential area just north-west of the town centre.
Tenure
Virtual Freehold. Held for a term of 999 years from 7th December 1995 at a peppercorn rent.
Description
The property comprises a self-contained ground floor corner retail unit with a small service yard area.
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
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 self-contained ground floor corner retail unit with a small service yard area.
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
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
Reversion
Ground
Retail
128.76 sq m
(1,386 sq ft)
T&S STORES LIMITED (1) (t/a One Stop Convenience Store) (2)
25 years from 30/11/1992
£12,750
29/11/2017
Totals
128.76 sq m
(1,386 sq ft)
£12,750
1) T&S Stores Limited is a wholly owned subsidiary of Tesco Plc. For the year ending 28th February 2015, T&S Stores Limited reported a total net worth of £573,589,000. (Source: Experian Group: 18/01/2016) (2) One Stop has been trading as a successful convenience franchise business for over 20 years and currently operates over 750 stores throughout England and Wales. (Source: www.openaonestop.co.uk - 05/01/2016)
Contacts
Seller's Solicitors
DLA Piper LLP Victoria Square House, Victoria Square Birmingham B2 4DL
